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Monday, August 8, 2022

This Indian Has Become Asia’s 2nd Richest Person After Beating Chinese Billionaire!

According to the Bloomberg Billionaire Index, as the stock prices of his listed companies soared, Billionaire Gautam Adani has edged past Chinese tycoon Zhong Shanshan to become the second-richest Asian.

Till the month of February, China’s Zhong was the richest Asian which, later was clinched by Mukesh Ambani, who happens to be India’s richest person and chairman of Reliance Industries Ltd.

Adani 2nd Richest in Asia, 14th in The World
Notably, Ambani lost $175.5 million this year while wealth of Adani surged by $32.7 billion and touched $66.5 billion. Ambani, with $76.5 billion, is the 13th richest in the world, followed by Adani at 14th.

Ambani has been the numero uno as far as Asia is concerned for the past two years.

The richest man of China has a net worth of $63.6 billion as his companies Nongfu Spring mineral water and pharma company Wantai Biological Pharmacy Enterprise, which tapped into the demand for Covid-19 test kits.

Share Prices Multifolded
Share prices of Adani Green, Adani Enterprises, Adani Gas and Adani Transmission has soared and is the reason behind Adani’s wealth.

While Adani Enterprises and Adani Transmission shares have surged more than eightfold and sixfold, the shares of Adani Total Gas have jumped about 12-fold in the past year. While Adani Ports more than doubled, Adani Green Energy and Adani Power have gained fourfold and nearly tripled, respectively.

Gautam Adani, who started out as a stockbroker, today owns companies across ports, airports, energy, logistics, labor, agriculture, wealth, financial services, gas distribution and defense, among others.

Adani Green Energy on Wednesday announced that it would receive SB Energy’s 5 gigawatt renewable energy portfolio with an estimated business value of $ 3.5 billion.

The transaction marks the largest acquisition in India’s renewable energy sector, the company said.

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