With a wealth of Rs 10.94 lakh crore, Gautam Adani added more than Rs 1,600 crore to his earnings per day in the last 1 year to become world’s second richest person, according to IIFL Wealth Hurun India Rich List 2022.
Adani’s net worth is now Rs 3 lakh crore more than that of Mukesh Ambani (Rs 7.94 lakh crore) who added Rs 210 crore every day last year.
“In 2012, Adani’s wealth was hardly one-sixth of Ambani’s wealth and no one could imagine that he would overtake Ambani to become the richest man in India in 10 years,” said Anas Rahman Junaid, MD and chief researcher at Hurun India.
In the last five years, the first-generation entrepreneur’s wealth has increased by 1440 per cent. The combined market value of Adani group’s 7 publicly traded firms, all of which carry the industrialist’s name, has increased significantly in the past few years. With Adani owning up to 75 per cent stake in some of his firms, he benefited most from the sharp buying seen across Adani listed stocks. For the first time in 10 years, Ambani of Reliance Industries has lost the top ranking despite his wealth increasing by 11 per cent in an eventful year, which saw many headwinds including the Russia-Ukraine war. His wealth is pegged at Rs 7,94,700 crore and has increased by 115 per cent in the last 5 years.
The total wealth of these two billionaires is about 50 per cent more than the combined wealth of the next 8 billionaires in the top top 10 list, signifying the two A’s (Adani and Ambani) diversification in new businesses and solid grip in power corridors over other names in the list. Also, Gautam Adani’s elder brother Vinod Shantilal Adani, who is based out of Dubai, is now the richest NRI (non-resident Indian), overtaking the famous Hindujas.