Gautam Adani back among world's top 20 billionaires; net worth reaches $64.2 bn

Adani Group chairman and billionaire Gautam Adani has made it back to the top 20 on world billionaires’ list. Adani has a net worth of $64.2 billion and is on the 18th spot in the Bloomberg Billionaires’ Index. His net worth saw a rise of $4.38 billion as Adani Group stocks logged a rise earlier in the day.  

Adani Group stocks also got a boost on Tuesday when its recent investor GQG Partners raised its stake in the Group by around 10 per cent. GQG Partners brought a stake worth Rs 15,446.35 crore in Adani Enterprises, Adani Ports, Adani Green Energy, and Adani Transmission in March this year. The value of this investment rose to Rs 25,515.50 in Tuesday’s intraday trade, up 65 per cent.  

GQG Partners owner Rajiv Jain called Adani Group stock as ‘the best infrastructure assets available in India’ in an interview with Bloomberg.  

Adani Group market capitalisation  

Earlier this week, Adani Group’s market capitalisation also topped the Rs 10 lakh crore mark after the Justice AM Sapre committee report suggested that it was not possible to conclude there was a regulatory failure on Hindenburg’s price manipulation allegations.  

Adani Group’s m-cap jumped from Rs 68,400 crore to Rs 10,03,861 crore in Monday’s trade versus Rs 9,34,485 crore on Friday’s closing. This is still 48 per cent lower than the Group’s Rs 19.20 lakh crore m-cap on January 24, when the Hindenburg report came out.  

The US-based short seller Hindenburg Research accused Adani Group of indulging in stock manipulation and accounting fraud at its firms. After this report, the group withdrew its follow-on public offer (FPO) worth Rs 20,000 crore and took measures to ease debt-related concerns.  

Gautam Adani vs Mukesh Ambani 

Even though this is a massive jump for Adani, he still remains behind Reliance Industries (RIL) chairman Mukesh Ambani. Mukesh Ambani continues to be the richest Asian and is on the 13th spot in the Bloomberg Billionaires’ Index with a net worth of $84.1 billion.  

Also read: Adani Ports shares drop on profit booking; Here are stock price targets

Also read: Adani Enterprises, Adani Transmission, Adani Green stocks in focus as Rajiv Jain's GQG may buy $1 billion worth shares