With $12 billion increase in just three days, billionaire Gautam Adani added more billions to his wealth since Friday than anyone else in the world. The stellar rally in group stocks on improved investor sentiment also added nearly rupees two lakh crore to the group’s market capitalisation in three sessions through Tuesday, taking Adani’s net worth to $64.2 billion from $52.4 billion over the same period.
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The surge in wealth dwarfs the $6.3 billion added by the second richest person in the world, Elon Musk and about $ 9 billion drop witnessed by the richest man -- Bernard Arnault during the same period.
| Net worth ($ bn) | ||||
| Billionaire | Rank | As on May 18, 2023 | Current | 3-day chg |
| Gautam Adani | 18 | 52.4 | 64.17 | 11.8 |
| Elon Musk | 2 | 173.8 | 180.15 | 6.3 |
| Zhong Shanshan | 19 | 61.5 | 62.42 | 0.9 |
| Mukesh Ambani | 13 | 83.62 | 84.11 | 0.5 |
| Mark Zuckerberg | 10 | 90.27 | 90.25 | 0 |
| Sergey Brin | 9 | 105.53 | 105.47 | -0.1 |
| Larry Page | 7 | 111.19 | 111.12 | -0.1 |
| Amancio Ortega | 14 | 68.54 | 68.1 | -0.4 |
| Jim Walton | 15 | 68.27 | 67.72 | -0.6 |
| Bill Gates | 4 | 125.86 | 125.29 | -0.6 |
| Jacqueline Badger Mars | 20 | 62.76 | 62.01 | -0.7 |
| Francoise Bettencourt Meyers | 12 | 89.76 | 88.93 | -0.8 |
| Steve Ballmer | 8 | 110.86 | 109.84 | -1 |
| Alice Walton | 17 | 66.46 | 64.87 | -1.6 |
| Rob Walton | 16 | 67.71 | 65.93 | -1.8 |
| Larry Ellison | 6 | 113.97 | 111.28 | -2.7 |
| Warren Buffett | 5 | 115.92 | 113 | -2.9 |
| Jeff Bezos | 3 | 141.97 | 138.8 | -3.2 |
| Carlos Slim | 11 | 92.95 | 89.16 | -3.8 |
| Bernard Arnault | 1 | 200.47 | 191.59 | -8.9 |
Source: Bloomberg | ||||
The latest rally in group shares also helped him to be back on the top 20 on world’s billionaire’s list. According to Bloomberg Billionaires Index, the fortune of Gautam Adani had slipped to as low as $37.7 billion in February end, following the Hindenburg Research’s report.
Also read: Long-term bets! Sanjiv Bhasin is bullish on these Adani group stocks. Here's why
The massive erosion in group’s share prices also had pulled his rank on the list of world’s wealthiest people to below 20.
Interestingly, with a net worth of about $150 billion, Adani was the second richest person in the world in September 2022. However, he lost three-fourths of his fortune since then with the net worth plunging to $ 37.7 billion by the end of February.
The latest rally in group stocks was triggered following the Supreme Court appointed committed found no conclusive evidence of regulatory failures or price manipulation at the conglomerate.
Moreover, media reports suggesting the group’s recent investor GQG Partners raising stake in group companies also weighed investor sentiment.
Also read: Goldman Sachs slashes Adani Group stakes from its ESG funds
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