By Our Special Correspondent
According to the IIFL Wealth Huron India Rich List 2022, takeover tycoon and world's second richest man, 60-year-old Gautam Adani is naturally worth Rs. He tops the list of India's richest people with a wealth of 10, 94,400 crores.
Adani is second after Tesla CEO Elon Musk with a net worth of Rs 12.37 lakh crore. 7,94,700 crore is the first time Adani has bagged the honor since Mukesh Ambani, chairman of Reliance Industries Ltd, has taken over the position. Adani topped the list by adding Rs.1, 600 crore per day over last year.
Last year, Ambani was ahead of Adani's wealth by Rs 2 lakh crore. But now Adani is ahead of Ambani by Rs.3 lakh crore. Adani's wealth has more than doubled (116 per cent) over the past year and in absolute terms, he is worth Rs. 5, 88,500 crore added.
The wealth of first generation entrepreneurs has increased by 1440 percent in the last five years. The combined market value of the Adani Group's seven publicly traded companies, which bear the tycoon's name, has grown significantly over the past few years.
The mining-to-energy conglomerate has pledged to invest $70 billion in green energy and become the world's largest producer of renewable.
"From an Indian wealth creation perspective, 2022 will be remembered for Adani's meteoric rise. From coal to port to energy conglomerate, it has aggressively expanded its commodity trading company, the only Indian to build not one, but seven companies with a market cap of one lakh crore.
The IIFL Wealth Huron India Rich List grew only 2.67 per cent in 2022 compared to 9 per cent for the whole excluding Adani,” IIFL Wealth Hurun India said.
"In 2012, Adani's wealth was not a sixth of Ambani's and no one could have imagined that he would overtake Ambani as India's richest man in 10 years. This is a reflection of the dynamism and structural transformation of the Indian economy.
The success of a first-generation entrepreneur like Adani exemplifies the potential for growth in an economy that is witnessing economies of scale in many unexploited sectors and a paradigm shift in new wealth generation,” the statement added.
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