As per the Bloomberg Billionaires Index, Gautam Adani has a net worth of $121 billion and Elon Musk net worth is at $137 billion. Where Elon Musk lost $133 billion this year, on the other hand Adani's net worth gained $44 billion in last one year. If Musk's net worth continue to fall, he might just give way to Gautam Adani to takeover the second spot.
As per Financial Express report, the Indian business tycoon might just take in five weeks or 35 days, to become surpass Musk and become the second richest man in the world.
Earlier on 13 December, Musk lost his status as the world’s richest person to luxury tycoon Bernard Arnault. As per the recent report, Musk has accomplished a first of his own by being the first person in history to have their net worth reduced by $200 billion.
As rivals catch up, Tesla's leadership in electric vehicles, the basis of its high valuation, is in peril. In addition to apparently decreasing output at its Shanghai plant, it is also giving US customers an unusual $7,500 discount to take delivery of its two highest-volume models before the end of the year.
According to the Bloomberg Billionaires Index, Musk has seen his worth drop to $137 billion as a result of the recent decline in Tesla stock, which included an 11 percent decline on December 27. His wealth peaked on November 4, 2021, at $340 billion, and he held the title of world's richest man until French entrepreneur Bernard Arnault who founded LVMH, passed him in December.
Musk's fortune is primarily comprised of Tesla stock and options. The automaker’s spiraling shares pose a particular risk for Musk, 51, who leveraged more of his position to finance his acquisition of Twitter in October. After soaring on Wall Street in 2020 and 2021, Tesla shares plummeted 65 percent in 2022.
On the other hand, Gautam Adani is the first person from Asia who ranked so high on the Bloomberg's wealth index. He topped the list of people whose wealth witnessed the maximum rise globally during this year. In the 'Sixth Bloomberg 50' report, which looks at those in business, politics, science and technology, finance and entertainment whose accomplishments deserve recognition said Adani, who is already the third richest person in the world.
The $49 billion surge in his personal wealth this year has put him ahead of Bill Gates and Warren Buffett as well on the third richest spot. He's been the busiest dealmaker this year, with acquisition of Swiss cement manufacturer Holcim Ltd, Indian operations for $10 billion, and takeover of NDTV media group are some of the key business decisions taken into account for preparing the report. Besides, the Adani Group also announced earmarking $70 billion into green energy. Adani Green Energy Limited (AGEL) has already become the world's largest solar energy producer and is fast developing capabilities into other forms of renewable energy generation.
The report had also stated that, "The Indian tycoon's wealth has surged more than anyone else's this year, making him the world's third-richest person behind Bernard Arnault and Elon Musk."
A first-generation entrepreneur who dropped out of college, Adani, started as a diamond trader in Mumbai and made most of his fortune in ports, renewable energy and logistics.
The Bloomberg report has taken into account the USD 49 billion surge in Adani's wealth, which had helped put him ahead of billionaires like Bill Gates and Warren Buffet.
Adani Green Energy Limited (AGEL) has already become the world's largest solar energy producer and is fast developing capabilities into other forms of renewable energy generation.
While Adani has become the leading Indian conglomerate with the highest market cap, he is also leading from the front in philanthropic activities.
Recently, Adani Enterprises approved plans to raise $2.45 billion through a follow-on public offer -- set to be India's biggest ever, subject to regulatory approval. His big bets - in cement and renewable energy, as well as airports and an expanded mining operation - have been funded by huge levels of debt.
Earlier in November, the billionaire had also claimed that India will become the world's third-largest economy by the end of 2030. He added that the country will become 2nd largest economy by 2050. Gautam Adani said that the next three decades would propel India to the forefront of entrepreneurship. "I expect the number of startups will lead to VC funding in India. India has already seen an acceleration in VC funding to $50 billion in just eight years," he added.
Meanwhile, Gautam Adani owns 75 percent stakes in Adani Enterprises, Adani Power and Adani Transmissions, according to March 2022 stock exchange filings. He also owns about 37 percent of Adani Total Gas, 65% of Adani Ports & Special Economic Zone and 61 percent of Adani Green Energy.
(With inputs from agencies)
