Business mogul Gautam Adani, owner of Adani Enterprises, with the net addition of $49 billion, according to the 2022 Hurun Global Rich List released on Wednesday. The Adani Group chairman has added Rs 6,000 crore every week in the over the last year, Hurun India said in a press release. As per the list, Adani’s wealth jumped 153 per cent over the past year.
Improving as many as 86 ranks over the last five years, Gautam Adani has become the richest energy entrepreneur in 2022 M3M Hurun Global Rich List, the press release noted.
“Gautam Adani is the biggest gainer in the M3M Hurun Global List 2022 and added $49 billion to his wealth last year. After the listing of the renewable energy company Adani Green, Gautam Adani’s Wealth increased nearly five times to $81 billion from $17 billion in 2020,” it noted.
“Through Adani New Industries, the Adani group plan to undertake green hydrogen projects, generation of low carbon electricity and the manufacture of wind turbines, solar modules and batteries,” the press note added.
Adani has emerged amongst the biggest wealth gainers, by absolute value, in the world. With a wealth gain of $49 billion, Gautam Adani has occupied the top spot of global wealth gainers in 2022 M3M Hurun Global Rich List. This is more than the net addition of wealth by top three global billionaires such as Elon Musk, Jeff Bezos, and Bernard Arnault.
The Adani Group’s success can also be attributed to a few mergers. Adani Green Energy acquired SB Energy India at an enterprise valuation of Rs 26,000 crore. This transaction is India’s largest renewables M&A deal, as per Hurun India.
The Adani Group last year also invested an undisclosed amount in Cleartrip Pvt Ltd for a minority stake with a view to providing consumers seamless travel experience through a wide range of products and service offerings. In a statement, the Adani Group said “it is investing in Cleartrip Private Limited, an online travel aggregator (OTA) and part of the Flipkart Group, India’s homegrown consumer internet ecosystem.”
Since 2018 number of billionaires residing in India nearly doubled in line with the performance of the broader market index, which increased more than 80% during the last year. This trend demonstrates that much of the wealth created in the last decade was by resident Indians.
“Hurun India is pleased to associate with M3M Group for the Global Rich List. One of the fastest growing real-estate developers in India, M3M (and its peers) have a significant role in nation building through urbanisation,” said Anas Rahman Junaid, MD and chief researcher at Hurun India.
Hurun India Rich List is a ranking of individuals with a net worth of over Rs 1,000 crore and has grown to become the most comprehensive rich list from India. Over the last decade, the list grew from 100 individuals from 10 cities to 1,007 richest Indians, from 76 cities.