", Forbes, Net worth of Gautam Adani from 2013 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1368503/adani-group-net-worth-of-gautam-adani/ (last visited August 22, 2023), Net worth of Gautam Adani from 2013 to 2023 (in billion U.S. dollars) [Graph], Forbes, March 3, 2023. Adani was accused of using a Dubai shell company to divert the funds. The conglomerate, on the same day, also called off a massive $2.5 billion share sale in a move that further raised eyebrows from investors. Forbes estimates that the 59-year-old Adani has a net worth of $123.7 billion, as of Friday's market close . Most market analyses today, he says, are "buy, buy, buy" and it points to a wider problem. As the firm achieved 3,960MW capacity, it became the largest private sector thermal power producer in India. Adani's net worth ballooned 125 per cent to $10.4bn over the course of 2017, according to Bloomberg data, faster than any other Indian tycoon that year. Available: https://www.statista.com/statistics/1368503/adani-group-net-worth-of-gautam-adani/, Net worth of Gautam Adani from 2013 to 2023, Immediate access to statistics, forecasts & reports, Market capitalization of Adani Group FY 2010-2022, Change in Adani Group stocks in 2022, by subsidiary, Leading power generation companies in India 2022, by market capitalization, Leading gas distribution companies in India 2020, by market capitalization, Adani Group's EBIDTA FY 2021-2022, by subsidiary, Adani Group's PAT FY 2021-2022, by subsidiary, Adani Group's price-to-earnings ratio by subsidiary 2022, Adani Group gross debt FY 2021-2022, by subsidiary, Adani Group's current ratio FY 2022, by subsidiary, Shareholding in Adani Group 2022, by type, Adani Group shares held by promoter group by subsidiary 2022, by subsidiary, Mutual fund houses exposure to Adani Group 2022, by size of assets, Gains from Adani Group's shares from January-August 2022, by subsidiary, Adani Group share prices January-February 2023, by subsidiary, Change in Adani Group share prices January-February 2023, by subsidiary, Market cap erosion of the Adani Group January-February 2023, by subsidiary, Change in market cap of the Adani Group January-February 2023, by subsidiary, Change in market capitalization of AMCs exposed to Adani 2023, Value of LIC holdings in Adani stocks January-February 2023, by subsidiary, Value of FII holdings in Adani stocks January-February 2023, by subsidiary, Net worth of Gautam Adani from 2013 to 2023 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports. But Edward Moya, an analyst at brokerage OANDA, told Reuters that the withdrawal of the share sale was "troubling" because it was "supposed to show the company is still believed in by its high net-worth investors". Gautam Adani becomes richest Asian and 10th in world ", Amol Agrawal, who teaches economics at Ahmedabad University in Gujarat, India, says the Adani episode is "a major dent on the image of the group, and reputations are very important here. The tale of Adanis scandal-plagued, wheeling-and-dealing ascent is also the story of Indias post-Cold War economic boom and Prime Minister Narendra Modis rise to power. Gautam Adani's net. If you are an admin, please authenticate by logging in again. #1 India's Richest (2022) Personal Stats Age 61 Source of Wealth commodities, infrastructure, Self Made Residence Ahmedabad, India Citizenship India Marital Status Married Children 2 Did you know. The figures for 2023 refers to real time net worth and as of March 3. In 2014, the then-Prime Minister-elect Modi traveled to New Delhi for his inauguration in Adani's plane. Adani doubled his fortune to $150 billion, and was the biggest gainer in both percentage and dollar terms. On Wednesday, Indias supreme court asked the countrys stock market regulator, the Securities and Exchange Board of India (SEBI), to open an investigation into the Adani Group to look into allegations of stock manipulation and failures to disclose transactions with related parties. About half of the stocks were purchased by US-based GQG . In 1998, it became the top net foreign exchange earner for India Inc.[24] The company began coal trading in 1999, followed by a joint venture in edible oil refining in 2000 with the formation of Adani Wilmar. The Indian billionaire, whose business empire was rocked by allegations of fraud by short seller Hindenburg Research, said his company will make more investments in Israel. A spokesperson for GQG did not immediately respond to a request for comment. Asia's richest man hits back at 'con' claims, The school dropout who became Asia's richest man, Ex-Thai PM Thaksin jailed after return from exile, Trump says he will be arrested on Thursday in Georgia, Japan to release Fukushima water in 48 hours, Why bad news is good news for Trump - for now, How the West is losing influence in Africa, Why did England hero Earps go viral? Gautam Adani's group has become the biggest issuer of offshore bonds from India with multiple group companies issuing bonds in the past five years to raise more than $9 billion from foreign. [21] "We believe India is a vibrant democracy and an emerging superpower with an exciting future. 2023 BBC. The promoter Adani Group sold 31 crore equity shares of Adani Power to GQG Partners, translating to an 8.1 percent stake in the company. Adani Group: net worth of Gautam Adani 2023 | Statista Their diversified group sees a future in EVs, as profits power a 24% increase in the family fortune to $5.8 billion. Reuters Last year, Ambani was ahead of Adani's wealth by Rs 2 lakh crore. Adani also surpassed Mark . In addition to its industrial interests, the Adani group owns several sports teams, such as the Gujarat Giants team in the Pro Kabaddi League. Indian data reveals Adani empire's reliance on offshore funding In the last five years, the first-generation entrepreneur's wealth has increased by 1440 per cent. "The stock market and the whole financialization of the world economy has moved in a direction where the only thing you want to do is to make sure that stock markets and whatever companies are trading there are constantly going up. Mails sent to Adani Group and TAQA did not elicit a response till the time of going to press on Thursday. The Adani Group responded by calling the report "a malicious combination of selective misinformation and stale, baseless and discredited allegations", but that wasn't enough to stem investor fears. Now he may be too big to fail", "Adani sees controversies as challenges. Adani: How the billionaire's empire lost $100bn in days - BBC Adani Enterprises Raises $2.5 Billion in Tricky Share Offering - The [103][104], On 23 February 2023, the Adani Group said it is exploring legal options to take "punitive action" against Hindenburg Research for its findings. Now their client is accused of pulling off 'the largest con in corporate history'. PLL has 26% equity in this JV. It commissioned India's largest solar power plant with a capacity 40MW. Several of the group's top executives are members of the Adani family, the report notes, creating an environment ripe for opaque financing decisions. Founded by Gautam Adani in 1988 as a commodity trading business, the Group's businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure. But "the detailed allegations of fraud and market manipulation are pretty horrendous," she says. It sailed through on Tuesday with full subscription but the conglomerate withdrew it the next day, citing market volatility. Bloomberg Billionaires Index - Gautam Adani This was primarily due to the insufficient information provided in the explanations by SEBI. Directly accessible data for 170 industries from 150+ countries Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. [76], On 27 February 2010, Central Bureau of Investigation arrested Rajesh Adani, managing director of Adani Enterprises Ltd., on charges of custom duty evasion amounting to 80 lakh. The 60-year-old tycoon's meteoric rise over the past few years about $100 billion of his previously estimated $120 billion net worth (before the scandal broke) came about in the last three years or so coincided with the election and rise of Indian Prime Minister Narendra Modi. hide caption. Purchased from Quint Digital Media, the owner of. Read more BBC stories about Gautam Adani: Adani calls off share sale after price plunges, Adani shares find investors despite fraud claim, Adani says fraud claim 'calculated attack on India', Fortune of Asia's richest man hit by fraud claims, Asia's richest men battle to dominate 5G in India, The school dropout who became Asia's richest man, Wagner making Africa more free, says Prigozhin, The men who don't want to fight for Ukraine, Baggage mountains fall as airlines improve handling, The red Lahaina house that survived Maui fires, Ukrainian drones downed over Moscow region - Russia, Trudeau slams Facebook over wildfire news ban. Our quiz, Why Jasprit Bumrah is so important for Indian cricket, The race to unravel the mysteries of Moon's south pole, Solving the air-con conundrum. Reuters Deepthi Nair Feb 14, 2023 Listen In English Listen in Arabic Powered by automated translation On Tuesday, Indian newspaper Mint reported that the Adani Group was planning an independent audit of its eight listed firms. Adani and Wilmar's stakes together account for nearly 88% of the company's shares a net loss of Rs 790 million in the quarter ending June 30th 2023. Shares of Adani Enterprises, the flagship company of his ports-to-energy conglomerate, were due to go on sale on 25 January in India's largest ever secondary share offering. Read more. In response to activist pressure some international banks refused to finance it,[57] and in November 2018, Adani Australia announced that the Carmichael project would be 100% financed by Adani Group resources. A timeline of how Adanis publicly listed companiesand net worthlost billions in a stock market rout triggered by damning allegations from Hindenburg Research. The report accused Adani of pulling "the largest con in corporate history"[16][82] and "brazen stock manipulation and accounting fraud scheme over the course of decades". Shares of all Adani Group stocks witnessed a rally on Monday which led to a strong jump in the net worth of Gautam Adani. India's Gautam Adani Passes Warren Buffett To Become World - Forbes When the Adani Enterprises share sale began on 25 January, it received a muted response. In April, Adani Enterprises secured approval from the Government of Gujarat to begin work on building a solar power equipment plant. The UAE government wants to increase the share of clean energy to 30% by 2030 and NWTN is "involved in the plan to achieve net-zero emissions by 2050," the company said in a press release. He's been accused of "pulling the largest con in corporate history" by a U.S.-based short seller, a research firm that bets against Adani's stock prices. Forbes. Gautam Adani is chairman of the $21 billion (revenue) Adani Group with interests in ports, airports, power generation and transmission, green energy, edible oils, cement and real estate, among others. [13] More than 60 percent of the Adani Group's revenue is derived from coal-related businesses. Factbox: Who is Indian billionaire Gautam Adani? | Reuters Like Adani, hes also a billionaire. ), We believe earnings drive stock prices, the market offers very limited opportunities to create an information advantage, and investors are disproportionately focused on the short term, Jain said in a July 2022 interview with Toronto-based Bridgehouse Asset Managers. 38 on the list of Indias 100 richest. The billionaire's. Our quiz, Why Jasprit Bumrah is so important for Indian cricket, The race to unravel the mysteries of Moon's south pole, Solving the air-con conundrum. Currently, you are using a shared account. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). [69], The Modi government extended an extraordinary favour to Gautam Adani in order to promote his coal business. Gautam Adani is clinging to the title of Asia's richest person after $75 billion stock wipeout boots him from the world's top 10 BY Nicholas Gordon January 31, 2023, 2:03 AM PST Gautam Adani's. You only have access to basic statistics. Its annual capacity would be 10Mt of thermal coal. Indian billionaire Gautam Adani is now world's second richest [100][101] S&P Dow Jones Indices removed Adani Enterprises from its sustainability index. Hindenburg claims it has evidence of "brazen accounting fraud, stock manipulation and money laundering at Adani." It began construction at Mundra in 1995. An eye-popping 38% of recent homebuyers under age 30 used either a cash gift from a family member or an inheritance in order to afford their down payment. Presently, his total net worth stands at USD 57.1 billion. Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. In the review report on Adani Ports, Deloitte mentioned a net balance of 3,871 crore recoverable from a contractor that provided EPC services, which the company believed was not a related party. While RIL has a market capitalisation of Rs 17.7 lakh crore, TCS is valued at Rs 11. Story first published: Monday, August 21, 2023, 16:41 [IST] It was re-launched for a second time to groom athletes for 2020 Tokyo Olympics, 2022 Asian Games and Commonwealth Games. Indian billionaire Gautam Adani saw more than $20bn (16bn) wiped off his fortune on Friday, after investors fled his companies for a second day prompted by fraud claims made by a US investment. 60 years. Adani Wilmar raised about Rs 36 billion ($435 million) through IPO in 2022. Highlights. Outside of his investments, Jain has also backed Democrats in the U.S. Forbes found that Jain contributed $81,600 to Democratic presidential and congressional candidates between 2012 and 2016, according to Federal Election Commission records. [39], On 22 December 2017, the Adani Group acquired the power arm of Reliance Infrastructure for 18,800 crore (US$2.89 billion). As soon as this statistic is updated, you will immediately be notified via e-mail. The BBC is not responsible for the content of external sites. In September, Adani Green Energy (Tamil Nadu), the renewable wing of the Adani Group, began operations in Kamuthi in Ramanathapuram, Tamil Nadu with a capacity of 648MW at an estimated cost of 4,550 crore (equivalent to 65billion or US$820million in 2023). Gautam Adani falls to 24th place in billionaires' list - The National In, Forbes. [55] This mine is one of many coal mines in Queensland, Australia. "[61] Although, under section 489 of Australia's Environmental Protection and Biodiversity Conservation Act 1999, presenting inaccurate or deceptive information could potentially constitute an offense, the federal government has opted not to pursue any legal action against Adani. Adani offloads 8% stake in power co for Rs 8,700 crore [Online]. Ratings agency Moody's unit ICRA has said it was monitoring the impact of recent developments on Adani Group stocks. [25], Adani handled 4Mt of cargo at Mundra in 2002, becoming the largest private port in India. "But there is no smoke without fire.". Shares of Adani Group's listed companies surged on Friday after its promoters sold stakes worth Rs 15,446 crore to a US-based global equity-investment company, GQG Partners, in a block deal.. How this billionaire lost half his net worth in a matter of weeks - Vox Gautam Adani, billionaire and chairman of Adani Group, speaks during an event at Israel's Port of Haifa, on Tuesday. Gautam Adani - Forbes Adani wants to be the world's largest producer of green energy and has said he will invest upto $70 billion on renewable energy projects. The Adani Group has denied any wrongdoing. The BBC is not responsible for the content of external sites. ", "Adani Power commissions 4th unit of Tiroda power plant in Gujarat", "Adani Power becomes India's largest private power producer", "Adani Ports acquires Dhamra Port on east coast of India for Rs 5,500 crore", "Adani acquires Dhamra Port for Rs 5,500 crore", "Adani Ports acquires Dhamra Port for Rs.5,500 cr", "Adani Ports buys Dhamra Port from Tata Steel, L&T for Rs 5,500 crore", "Adani to set up country's largest solar park of 10,000MW in Rajasthan", "Adani in Pact with Kerala for Vizhinjam Port", "Reliance Infrastructure sells Mumbai power business to Adani Transmission for Rs18,800 crore", "Total buys 37.4 per cent stake in Adani Gas for Rs 6,155 crore", "Adani Green Energy surges after signing deal with Total for $510 million", "Adani takes over MIAL, Navi Mumbai airports after a 2-year tussle with GVK", "Adani Group completes acquisition of 23.5% stake in Mumbai Airport; to hike ownership to 74%", "Adani Green buys SB Energy from Softbank and Bharti; firm valued at $3.5 bn", "Adani Group becomes India's 2nd largest cement maker with $10.5 billion acquisition of Ambuja-ACC", "Three Adani Group companies receive $2 billion from Abu Dhabi's IHC", "Abu Dhabi's IHC invests 15,400 crore in three Adani firms", "French energy giant TotalEnergies to invest $12.5 bn in Adani Group's new firm", "India's Adani boosts cement heft with $295 million deal for Sanghi", "Adani Group approves MoU to buy remaining stake in Quintillion Business Media", "Description of the mine project" by the Adani, PDF, 110 pages, "Carmichael Mine | Bravus Mining & Resources", "Carmichael mine: environmental impact will be unknown for years", "Adani's Carmichael mine, rail project to be financed through group's resources", "Boss of Adani's Australian arm linked to mining pollution in Zambia", "Adani 'made mistake' in failing to disclose CEO ran polluting mine", "Adani to face no action over Australian CEO's link to Zambia mine pollution", "ACF challenges Morrison Government decision to not apply water trigger to Adani pipeline", "Adani Mining changes name to Bravus in Australia", "Media freedom fears in India after Modi ally Adani buys 29% stake in NDTV", "For India, the Adani Group is growing too big to fail", "CAG slams Modi regime for financial irregularities", "Gautam Adani: The school dropout's high-risk journey to become Asia's richest man", "Modi govt allowed Adani coal deals it knew were 'inappropriate', "Explained: Fitch says Adani is 'over leveraged' what does over leveraging mean in business? With a capital of 5 lakhs, the company was established as a partnership firm with the flagship company Adani Enterprises, previously Adani Exports. Within the next decade, the economy will add a trillion dollars to its GDP every 18 months, he says at AGM of Adani Enterprises. [128][129], Adani Group has naming rights on Hegvold Stadium (now known as Adani Arena) in Rockhampton[130] and the pavilion end of the Narendra Modi Stadium in Ahmedabad.[131]. On Wednesday, Adani Enterprises said it would. Analyst Ambareesh Baliga told Reuters after the share sale that the group had been unable to fulfil its aim to "broadbase the shareholding". Gautam Adani: Asia's ex-richest man lost nearly $50 billion in just "There are so many stock market analysts [in India], why is it that they were not seeing what these guys are seeing?" [96] On 1 February, Adani cancelled its planned $2.5 billion (Rs 20,000 crore) Follow-on Public Offer (FPO) citing market volatility, and announced that it would return the FPO money to investors. I cover the world's richest people and how they made their billions. They have also asked for an investigation into Hindenburg's allegations. India on track to becoming a $25 trillion-$30 trillion economy by 2050, says Gautam Adani. [46], In May 2022, UAE-based conglomerate International Holding Company (IHC), headed by Syed Basar Shueb, invested US$2 billion in three Adani Group companies, namely Adani Green Energy, Adani Transmission and Adani Enterprises. On 13 February 2023, India's markets regulator, the SEBI, confirmed that it is investigating allegations made by Hindenburg Research against companies owned by Gautam Adani. Here are some facts about Gautam Adani, a first-generation tycoon, and his rags-to-riches story. [31] Adani Power's total installed capacity then stood at 9,280MW. Adani is India's biggest airport operator and also controls Mundra Port, India's largest, in his home state of Gujarat. Net worth of Gautam Adani from 2013 to 2023 (in billion U.S. dollars) Premium Statistic Gautam Adani's ranking on Forbes billionaires list 2018-2023 However, a Hindenburg statement asserted that it stands by its report that alleged "brazen" market manipulation and accounting fraud by the Adani Group. Gautam Adanis secretive older brother Vinod is worth nearly $10 billion, a fortune that Forbes recently uncovered while investigating a maze of shell companies. India's main opposition party has demanded an investigation. Vinod Adani, the longtime Indian expat, is at the heart of the Adani Groups global web of subsidiaries and offshore shareholders. Those include Mukesh Ambani's Reliance conglomerate and the State Bank of India, as well as housing finance provider Housing Development Finance Corp, ICICI Bank and Kolkata-based conglomerate ITC. Gautam Adani has won a vote of confidence from a $400 million investment by International Holding Co. (IHC)an Abu Dhabi-based conglomerate controlled by a key member of the United Arab Emirates royal familyinto Adani Enterprises. According to a collaborative report from Environmental Justice Australia, Jeyakumar Janakaraj held significant positions at a mining company that faced criminal charges related to the contamination of the Kafue River in Zambia. Ambani's net worth stands at $83 billion, making him the world's ninth-richest person, while Adani's wealth is estimated at about $75 billion, according to Forbes. In his statement to India's exchanges, Mr Adani said, "Our balance sheet is very healthy with strong cashflows and secure assets, and we have an impeccable track record of servicing our debt.". Self-made billionaire Gautam Adani 's net worth plummeted on Wednesday, with the Adani Group chairman shedding $5.51 billion from his personal fortune after US investor Hindenburg Research accused companies owned by the Indian tycoon of "brazen" market manipulation and accounting fraud.

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