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Recently, there has been a massive rise in the net worth of Gautam Adani, the Chairman of the Adani Group and also the second richest person in India. As per the Bloomberg Billionaires Index, Gautam Adani’s net worth increased by USD 4.08 billion, i.e., INR 33,900 crore, in a single day. This is the highest rise in his net worth after the Adani Group controversies. With this, Gautam Adani’s net worth has reached USD 94.2 billion. He has also secured 13th place in the list of the world’s wealthiest individuals in 2024.
Gautam Adani’s Surge in Net Worth:
There has been a massive rise in Adani’s net worth so far. The business tycoon’s wealth has risen by USD 9.90 billion in 2024. This is the highest increase in the wealth of any billionaire in the world this year. It highlights the extraordinary capability of the business tycoon to rise over his competitors and make a remarkable place for himself. Mukesh Ambani, the richest person in Asia and India, is ranked 13th on the list of world billionaires with a net worth of USD 101 billion. His net worth has declined recently by USD 333 million.
The Main Reason Behind the Rise in Wealth:
The main reason behind the recent rise in Adani’s net worth is GQG increasing its stakes in some of the major companies of the Adani Group. The Rajiv Jain-led American investment firm GQG Partners has always strongly believed in the Adani Group. Despite the ongoing Adani Group controversies, Rajiv Jain never lost faith in the Indian conglomerate. The firm increased its stakes in Adani Ports to 3.76% in the December quarter. The stakes in Adani Enterprises increased to 2.95% in December. The stake in Adani Green has risen from 3.55% to 3.68%. GQG also increased its stakes in Adani Power to 4.17% and in Ambuja Cement to 1.83%.
Adani’s Journey Towards Success:
The journey for Gautam Adani has never been an easy one. Time and again, the business tycoon had to encounter many hindrances. This happened especially after the Hindenburg crisis when the Adani Group was blamed for stock manipulation and fraud. Though the business group continued to deny all charges, many accusations were made, and the investors also gradually began to lose trust in the proceedings of the Adani Group. This caused the stock value of the Adani Group to fall considerably.
Even during the crisis, Gautam Adani always maintained a resilient approach. He knew a time would come when the conglomerate could bounce back from the situation, and it did happen. After the Supreme Court dismissed all allegations of the Adani Group, the stock values again began to rise. The investors started gaining faith in the various proceedings of the Adani Group. They once again made some heavy investments in the business group proceedings. This causes the global conglomerate to rise to its state of glory. It once again started conducting all its business operations with full force.
The Adani Group Projects:
Today, Adani projects are almost everywhere. The Adani Group has ventured into nearly all the vital business sectors like ports, airports, roads, railways, data centers, food, etc. The global business has been constantly working towards expanding some of the major ports in India. It has gained control over crucial ports abroad like Sri Lanka and Haifa. The company has been working on integrating technology at some of the most critical airports in the country. This will directly impact trade and commerce. The passenger footfall will also increase. Rumours surrounding Adani Group controversies will also come to a halt.
The Adani Group has also made some heavy investments in the country’s transportation and logistics sectors. This will allow easy transportation of goods and individuals across different Indian states. The conglomerate’s primary focus has always been the renewable energy sector. It has taken up multiple ventures to enhance the use of renewable energy. The Adani Group has built the largest renewable energy park in Gujarat. There are numerous other renewable projects that it is currently operating in India. The business group has also shifted people’s focus to renewable energy by setting up EV charging stations in different locations.
Conclusion
The huge investments made by Rajiv Jain in the Adani Group triggered other investors to make similar investments in the happenings of the conglomerate. This caused the overall business of the Adani Group to rise considerably, and Gautam Adani’s net worth also witnessed a massive surge. Gautam Adani’s net worth will grow as investors invest in the Adani Group’s projects. Very soon, he will end up becoming the wealthiest individual in India.
