December 5, 2022

EUNews24

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Gautam Adani made Rs.1,612 crore per day to double wealth in 1 year

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NEW DELHI: Creating wealth at an unprecedented speed of Rs 1,612 crore per day, billionaire Gautam Adani has more than doubled his wealth in the last one year to beat Amazon Founder Jeff Bezos as the world’s second-richest man, according to IIFL Wealth Hurun India Rich List 2022 released on Wednesday.

Riding on the surge in share prices of Adani Group stocks, the Ahmedabad-based businessman’s wealth grew 116 per cent in the last one year and in absolute terms, he added Rs 5,88,500 crore.

The 60-year-old Adani’s total fortune is estimated to be at Rs 10,94,400 crore.

In the last five years, the first generation entrepreneur’s wealth, fuelled by acquisitions and organic growth, has increased by an astounding 1,440 per cent. The combined market value of the Adani group’s seven publicly traded companies, all of which carry the industrialist’s name, has increased significantly in the past few years.

“From an Indian wealth creation perspective, 2022 will be remember.

The cumulative wealth growth of the IIFL Wealth Hurun India Rich List 2022 excluding Adani is only 2.67 per cent, compared to the overall 9 per cent.

For the first time in ten years, the 65-year-old Ambani lost the top ranking despite his wealth increasing by 11 per cent in the last one year. The report pegged his wealth at Rs 7,94,700 crore and has increased by 115 per cent in the last five years.

Vaccine maker Cyrus S Poonawalla and family moved up the ladder to the third spot in the rich list after their wealth increased by 25 per cent year-on-year.

Poonawalla’s wealth is estimated at Rs 2,05,400 crore. Next on the top 10 rich list in chronological order are HCL Founder Shiv Nadar’s family (Rs 1,85,800 crore), DMart Founder RadhakishanDamani (Rs 175,100 crore), Vinod Shantilal Adani (Rs 169,000 crore), SP

Hinduja NSE 0.23 % (Rs 165,000 crore), LN Mittal (Rs 151,800 crore), DilipSanghvi (Rs 133,500 crore) and Uday Kotak (Rs. 119,400 crore).

On the back of strengthening US dollar, the number of dollar billionaires in India has come down by 16 to 221, shows the report.

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