Gautam Adani, Sri Lanka wind project, Hindenburg Research
The value of Adani Group companies' shares has significantly decreased in a three-day decline, wiping out over $68 billion of market value I File photo

At $49 billion, Adani added more wealth than Musk, Bezos and Arnault

Gautam Adani, India’s and Asia’s second-richest person, added $49 billion to his wealth last year – more than the net addition of wealth by the top three global billionaires Elon Musk, Jeff Bezos and Bernard Arnault, the 2022 M3M Hurun Global Rich List said on Wednesday (March 15).

Mukesh Ambani, who runs the oil-to-retail conglomerate Reliance Industries, continues to be the richest Indian with a wealth of $103 billion, a 24 per cent rise year on year.

Adani, the head of the ports-to-energy conglomerate Adani Group, is a close second, with his wealth surging 153 per cent to $81 billion.

In the last 10 years, while Ambani’s wealth has grown 400 per cent, Adani has seen a 1,830 per cent increase, the list said.

HCL’s Shiv Nadar is ranked third with USD 28 billion wealth, followed by Serum Institute’s Cyrus Poonawalla (USD 26 billion) and steel magnate Lakshmi N Mittal ($25 billion).

“Gautam Adani, 59, is the biggest gainer in the M3M Hurun Global List 2022 and added USD 49 billion to his wealth last year,” M3M Hurun Global Rich List said in a statement. His net wealth addition is “more than top three global billionaires such as Elon Musk, Jeff Bezos and Bernard Arnault.”

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After listing renewable energy company Adani Green, his wealth increased nearly five times to $81 billion from $17 billion in 2020.

Ambani’s wealth grew by USD 20 billion in 2021, it said.

Nykaa founder Falguni Nayar ($7.6 billion) is the wealthiest new entrant in the Hurun Global Rich List 2022.

The statement said that the 2022 M3M Hurun Global Rich List ranked 3,381 billionaires from 2,557 companies and 69 countries.

Anas Rahman Junaid, MD and Chief Researcher, said India ranks third based on the number of billionaires and the number of billionaires who have added at least a billion-dollar to their wealth.

“Over the last 10 years, Indian billionaires added circa $700 billion to their cumulative wealth – this is equivalent to Switzerland’s GDP and twice the GDP of the UAE!” he said.

India, he said, has 18 per cent of the world’s population and 8 per cent of the world’s ‘known’ billionaires, up from 4.9 per cent five years ago.

India has 215 billionaires compared to 1,133 Chinese billionaires and 716 Americans.

The statement said Adani is the biggest wealth gainer in the 2022 list, followed by Google co-founders Larry Page and Sergey Brin and founder and CEO of luxury goods conglomerate LVMH, Bernard Arnault ($39 billion addition).

Ambani is ranked 8th in terms of wealth addition.

According to the list, Ambani’s wealth was $45 billion five years back and $20.5 billion 10 years ago. Adani was worth $8.8 billion 10 years back and $14 billion five years back.

With a net worth of $23 billion each, Radhakishan Damani of Avenue Supermarts and SP Hinduja of Hinduja entered into the top 100 in 2022 M3M Hurun Global Rich List for the first time.

(With inputs from agencies)

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