December 2, 2022

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Awesome Business

An Indian is leading the world’s billionaire list in terms of wealth creation in 2022

2 min read

Gujarat’s very own Gautam Adani, the chairman and founder of the Indian multinational conglomerate Adani Group, outdid all the world’s top billionaires in terms of wealth creation in 2022 far. All thanks to the ongoing rally in the group’s stocks.

With a rise of $59.1 billion year-to-date (YTD) in total net worth, the entrepreneur is the third richest individual in the world. His total net worth stood at $136 billion on November 11, 2022, according to the Bloomberg Billionaire index.

On a year-to-date basis, shares of Adani Power have surged 261 per cent to Rs 360.10 from Rs 99.75 on December 31, 2021. It was followed by Adani Enterprises (up 135 per cent), Adani Total Gas (up 122 per cent), Adani Transmission (up 90 per cent), Adani Green Energy (up 65 per cent) and Adani Ports and Special Economic Zone (up 22 per cent). Adani Wilmar, which got listed on bourses in February 2022, has also rallied 193 so far against its issue price of Rs 230.

Also read: Adani Enterprises, other 4 BSE 500 multibaggers report over 100% rise in Q2 net profit; should you buy?

Other world’s billionaire

Founder of Susquehanna International Group Jeff Yass, who is the world’s 31st richest individual, witnessed a rise of $29.6 billion in his total net worth in the ongoing calendar year, according to publicly available data. The world’s 20th richest Zhang Yiming and the world’s 95th richest Rodolphe Saade & family also see a rise of $10.4 billion and $4.49 billion, respectively, in their respective total net worth in 2022.

On the other hand, the world’s richest individual Elon Musk’s total net worth tanked $86.60 billion to $184 billion on a year-to-date basis. The sharp fall came amid the selloff in Musk-owned Tesla shares. The share price of Tesla tanked over 52 per cent YTD.

With a total net worth of $153 billion, the chairman of LVMH Moet Hennessy Louis Vuitton Bernard Arnault is the second richest individual globally. His net worth also plunged $24.8 billion in the ongoing calendar year-to-date. Among the other major top guns, Jeff Bezos, Bill Gates and Warren Buffett also witnessed a fall of $72.70 billion, $26.30 billion and $3.03 billion in their respective total net worth in 2022 so far.

Besides Gautam Adani, India’s other businessmen such as the founder of Sun Pharmaceutical Industries’ Dilip Shangvi, chairman of telecom major Bharti Airtel. Sunil Mittal and founder and former chief executive officer of Eicher Motors, Vikram Lal also witnessed a growth of somewhere between $1 billion-$1.50 billion in their total net worth, the data showed.

Other major industrialists including Reliance Industries chairman and managing director Mukesh Ambani, HCL Technologies’ Shiv Nadar and Wipro’s Azim Premji see a fall of $1 billion, $7.63 billion and $17.30 billion in their respective total net worth in the ongoing calendar year.

Overall, the ongoing year stood highly tumultuous for the global business environment due to the ongoing geopolitical crisis between Ukraine and Russia and rising inflation which led to hikes in interest rates.

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