Gautam Adani Becomes 14th Richest Person In The World, Second Richest In Asia
Billionaire Gautam Adani, founder and promoter of Adani Group, became the world's 14th richest person and second richest in Asia after he replaced Chinese billionaire Zhong Shanshan on the Bloomberg Billionaire's index. Mr Adani, with net worth of $67.8 billion is the country's second richest after Mukesh Ambani, Chairman and Managing Director of Reliance Industries who has net worth of $76.3 billion, according to Bloomberg Billionaires index. Year to date, Mr Adani's net worth has soared by 100 per cent or $33.8 billion.
Mr Adani founded Adani Ports and Special Economic Zone (APSEZ), which is the country's largest private port operator. Adani Enterprises, the group's listed trading house, reported revenue of $6.1 billion in the year to March 31, 2020, according to Bloomberg.
In a move to strengthen its ports business, Adani Ports recently acquired private ports on the eastern coast of the country. Adani Ports acquired Krishnapatnam Port and Gangavaram Port in Andhra Pradesh.
Port-to-energy conglomerate Adani Ports and Special Economic Zones or APSEZ reported a 285 per cent growth - a quadruple jump in net profit at Rs 1,287.81 crore in the January-March quarter of the financial year 2020-21, compared to Rs 334.39 in the corresponding quarter last year.
Recently, Adani Group's renewable energy company Adani Green Energy announced that it would buy SoftBank Group Corp-backed SB Energy Holdings for an enterprise value of $3.5 billion. It would buy the 80 per cent stake held by SoftBank Group Capital and the rest owned by Indian conglomerate Bharti Global in a cash deal, the company said in a filing to the stock exchanges.
Jeff Bezos, founder of Amazon, 00is currently the richest person in the world with net worth of $189 billion. He is followed by Elon Musk, founder of Tesla and SpaceX who has net worth of $163 billion, according to Bloomberg.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
