The value of Gautam Adani’s holdings in Adani Group companies soared $112 billion in the past two years, the highest among all billionaires in the world. His wealth has jumped 365% in the previous two years from $30.7 billion to $142.7 billion, pushing up his rank in the global billionaires’ list from 40th to the 3rd spot during this period.
So far in 2022, the value of his companies’ holdings has gone up by $66.2 billion, surpassing the market capitalization of blue chips such as the
, , , , and Life Insurance Corporation.
This calendar year, only the two Indians — Gautam Adani and Mukesh Ambani — among the top 10 billionaires in the world have gained wealth of $66.2 billion and $4 billion, respectively, while the others have seen their wealth erode amid the stock market sell-off.
The rally in Adani Group shares has also helped the Indian stock market. About 79% of the country’s total market-cap gain so far this year was contributed by the seven listed firms of the Adani Group. The market capitalisation of all the listed companies on BSE has risen by Rs 12.74 lakh crore in 2022, whereas the seven listed Adani companies have gained Rs 10.05 lakh crore in market cap during this period. Stocks such as , , , , and have lost more than `8 lakh crore in market cap this year. While the Nifty index has gained just 1% in 2022, Adani Group’s seven listed stocks have gained on an average 127%. has surged 313%.