#Gautam Adani net worth

[financia012]

Resilience in the Face of Adversity: Gautam Adani’s Take on US Indictments

Introduction Gautam Adani, one of the world’s leading business magnates, has often found himself at the center of controversies. Recently, his enterprise faced scrutiny with allegations stemming from the United States. Demonstrating steadfast resilience, Adani assured his stakeholders that such challenges only serve to strengthen the group’s foundations and determination to excel. A Strong…

[buindia]

Gautam Adani Richest Person in India; Here’s How

Gautam Adani richest person in India with an impressive net worth of Rs 12 lakh 23 thousand crores. Know more about him and his company.

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[aisleopedia]

Adani group stocks surf on Modi wave! Rs 1.4 lakh crore market cap added as exit polls predict NDA win

Adani Group Stock Prices today: On Monday, the shares of Gautam Adani's multi-billion dollar conglomerate experienced a significant rally, with gains reaching up to 16%. This surge followed the unanimous predictions by exit polls that Prime Minister Narendra Modi will secure a record victory in the Lok Sabha election results on Tuesday. Read More..

[rightnewshindi]

अडानी ग्रुप के चेयरमैन गौतम अडानी को नेटवर्थ में आई भारी गिरावट, एक दिन में डूबे करोड़ों रुपए

अडानी ग्रुप के चेयरमैन गौतम अडानी को नेटवर्थ में आई भारी गिरावट, एक दिन में डूबे करोड़ों रुपए

Delhi News: भारत की दूसरी सबसे अमीर व्यक्ति गौतम अडानी की नेटवर्क में मंगलवार को बड़ी गिरावट देखने को मिली है। ब्लूमबर्ग बिलियनेयर्स इंडेक्स के मुताबिक अडानी ग्रुप के चेयरमैन गौतम अडानी की नेटवर्थ में मंगलवार को भारी गिरावट हुई है। अडानी ग्रुप के चेयरमैन की नेटवर्थ मंगलवार को 2.04 अरब डॉलर नीचे गिर गई है। अडानी ग्रुप के लिए ये बड़ा झटका है। बता दें कि डॉलर की इस राशि को रुपये में बदलने पर 16,900…

[telugutimesdigimedia]

Shock for Gautham Adani.. in 24 hours

Billionaire, founder of Adani Group, Gautam Adani has fallen to the fourth position from the list of world's richest people. In the latest Bloomberg Billionaires Index, Adani has moved from the third position on the list to the fourth position. In the last 24 hours, Adani's net worth has fallen to $872 million. Adani lost $683 million in wealth since January 24, 2022 last year.

[livemintvideos]

Mukesh Ambani and Gautam Adani, two of India's biggest businessmen, are about to invest roughly $70 billion each by the end of this decade to make green hydrogen affordable, including renewable energy plants, large-scale photovoltaic cell manufacturing, electrolyzers, storage, and transportation facilities, and other components of the hydrogen ecosystem. The government declared it would cover the cost of renewable energy used to create hydrogen at a location other than the source of the power.

[sageglobalresponse]

Full list of Forbes’ 25 world billionaires in 2023

American business magazine, Forbes, in its 2023 list of 25 richest people in the world, featured Bernard Arnault on the No. 1 spot, followed by Twitter Chief Executive Officer, Elon Musk.

In its previous list in 2022, Musk was on the No. 1 spot.

Forbes described the drop of Musk from the top spot as ” this year’s second-biggest loser”, adding that “Elon Musk, had it worse.”

For Jeff Bezos, fortune knocked him from number. 2 in the world in 2022 to No. 3 this year as Amazon shares crashed by 38 per cent.

So This Happened (202) Reviews Lagos Bizman’s Arraignment Over Wife’s Death, Others | Punch

Musk lost his title of the world’s richest person after his pricey purchase of Twitter, which he funded in part by the sale of Tesla shares, helping to spook investors. Musk, who is worth $39 billion less than a year ago, is now No. 2.

For Jeff Bezos, fortune knocked him from number. 2 in the world in 2022 to No. 3 this year as Amazon shares crashed by 38 per cent.

Also, among the top 25, two billionaires — Zhang Yiming, Changpeng Zhao lost their spots and were unable to make it on the list for this year.

Yiming, the founder of Tik Tok-parent Bytedance, dropped one place, from No. 25 to No. 26, as his embattled company has taken a haircut from investors while Zhao, Binance founder, known as CZ, fell from No. 19 last year all the way to No. 167 amid the crypto winter.

Below are the list of Forbes 25 richest people in the world in 2023 with their net worth

1. Bernard Arnault & family

(Net worth: $211 Billion | Source of Wealth: LVMH | Age: 74 | Citizenship: France)

2. Elon Musk

(Net worth: $180 Billion | Source of Wealth: Tesla, SpaceX | Age: 51 | Citizenship: U.S.)

3. Jeff Bezos

(Net worth: $114 Billion | Source of Wealth: Amazon | Age: 59 | Citizenship: U.S.)

4. Larry Ellison

(Net worth: $107 Billion | Source of Wealth: Oracle | Age: 78 | Citizenship: U.S.)

5. Warren Buffett

(Net worth: $106 Billion | Source of Wealth: Berkshire Hathaway | Age: 92 | Citizenship: U.S.)

6. Bill Gates

(Net worth: $104 Billion | Source of Wealth: Microsoft | Age: 67 | Citizenship: U.S.)

7. Michael Bloomberg

(Net worth: $94.5 Billion | Source of Wealth: Bloomberg LP | Age:81

8. Carlos Slim Helú & family

(Net worth: $93 Billion | Source of Wealth: Telecom | Age: 83 | Citizenship: Mexico)

9. Mukesh Ambani

(Net worth: $83.4 Billion | Source of Wealth: Diversified| Age: 65 | Citizenship: India)

10. Steve Ballmer

(Net worth: $80.7 Billion | Source of Wealth: Microsoft | Age: 67 | Citizenship: U.S.)

11. Françoise Bettencourt Meyers & family

(Net worth: $80.5 Billion | Source of Wealth: L’Oréal | Age: 69 | Citizenship: France)

12. Larry Page

(Net worth: $79.2 Billion | Source of Wealth: Google | Age: 50 | Citizenship: U.S.)

13. Amancio Ortega

(Net worth: $77.3 Billion | Source of Wealth: Zara | Age: 87 | Citizenship: Spain)

14. Sergey Brin

(Net worth: $76 Billion | Source of Wealth: Google | Age: 49 | Citizenship: U.S.)

15. Zhong Shanshan

(Net worth: $68 Billion | Source of Wealth: Beverages, pharmaceuticals | Age: 68 | Citizenship: China)

16. Mark Zuckerberg

(Net worth: $64.4 Billion | Source of Wealth: Facebook | Age: 38 | Citizenship: U.S.)

17. Charles Koch

(Net worth: $59 Billion | Source of Wealth: Koch Industries | Age: 87 | Citizenship: U.S.)

18. Julia Koch & family

(Net worth: $59 Billion | Source of Wealth: Koch Industries | Age: 60 | Citizenship: U.S.)

19. Jim Walton

(Net worth: $58.8 Billion | Source of Wealth: Walmart | Age: 74 | Citizenship: U.S.)

20. Rob Walton

(Net worth: $57.6 Billion | Source of Wealth: Walmart | Age: 78 | Citizenship: U.S.)

21. Alice Walton

(Net worth: $56.7 Billion | Source of Wealth: Walmart | Age: 73 | Citizenship: U.S.)

22. David Thomson & family

(Net worth: $54.4 Billion | Source of Wealth: Media | Age: 65 | Citizenship: Canada)

23. Michael Dell

(Net worth: $50.1 Billion | Source of Wealth: Dell Technologies | Age: 58 | Citizenship: U.S.)

24. Gautam Adani

(Net worth: $47.2 Billion | Source of Wealth: Infrastructure, commodities | Age: 60 | Citizenship: India)

25. Phil Knight & family

(Net worth: $45.1 Billion | Source of Wealth: Nike | Age: 85 | Citizenship: U.S.)

[mariacallous]

In January, after New York-based short seller Hindenburg Research released a report accusing Adani Group of accounting fraud and stock manipulation, the Indian conglomerate defended itself by appealing to nationalism. “This is … a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,” the group said in a 413-page response refuting the allegations.

It is no surprise that Adani Group tied itself to India’s “growth story.” The industrial empire of Gautam Adani, the group’s founder, has been key to Prime Minister Narendra Modi’s vision for India, which centers on big infrastructure projects as drivers of growth. In turn, Adani’s support for Modi’s nation-building plans, from airports to green hydrogen plants, has propelled his conglomerate’s meteoric rise. From 2014 to December 2022, Adani Group’s market capitalization soared from $6.5 billion to more than $223 billion.

Hindenburg’s report triggered a sudden reversal, however. The value of Adani Group’s publicly traded stocks soon fell by more than half—a rout that has continued a month after the report’s release. Modi has chosen to remain quiet about the affair, even as it has raised serious questions about India’s economy.

If Adani Group seeks refuge from criticism by tying its success to that of India’s, then the converse must also be reckoned with: The collapse of its shares represents a stress test for India’s growth project. It has cast doubt on whether Modi’s strategy of propping up a few favored corporate titans can translate into lasting results on the ground. And, beyond that, whether Modi’s India can deliver on hopes that it could become a driver of global economic growth, as China was for the past three decades.

Modi’s rise has long been intertwined with that of Adani’s. As chief minister of Gujarat from 2001 to 2014, Modi made his name through his so-called Gujarat model of development, with its large infrastructure projects, such as dams, extensive highways, and solar power plants. Adani was critical not just to constructing many of these projects but also to bringing big business around to the idea of Modi as a potential prime minister. After Modi was elected in 2014, he flew from Gujarat to his new home of New Delhi in Adani’s private jet.

As Modi became India’s most popular leader since the republic’s first prime minister, Jawaharlal Nehru, Adani’s business interests expanded. His conglomerate partnered with the government on critical infrastructure projects within India and, increasingly, abroad. Since Modi entered office, Adani’s net worth increased by more than 5,000 percent to $150 billion in September 2022, making him Asia’s richest man before the scandal. His wealth came largely on the back of winning government contracts; expanding into strategic sectors, such as clean energy and defense; and building critical infrastructure projects. For instance, Adani Group secured seven out of the eight airports that the Indian government leased out to private companies. These kinds of contracts, in turn, led to more interest in Adani Group stock from investors.

The government has undoubtedly placed its trust in Adani, but the Hindenburg report could be a stumbling block in Modi’s plans to ensure that India remains the world’s fastest-growing major economy. After the brutal stock rout, the group called off a $2.5 billion share sale and had to delay its expansion plans. A margin call followed, leading Adani to prepay a $1.1 billion loan. Meanwhile, French energy giant TotalEnergies has put on hold a $4 billion investment in an Adani Group green hydrogen project.

Over his tenure, Modi has been unwilling or unable to push through structural reform that would allow more companies to enter new sectors without significant risk-taking. He therefore has no option but to depend on national champions, such as Adani. But even among Indian billionaires, Adani is unique. Very few businesspeople enjoy the government’s confidence, can navigate dizzying state regulation, and, most of all, are willing to risk enormous amounts of capital.

In 2015, Credit Suisse published its House of Debt report, which examined the precarious debt levels of 10 prominent Indian business groups with a significant presence in various infrastructure sectors. Out of the 10 groups, many have ended up in bankruptcy courts in recent years, while others have pursued debt consolidation plans. Only one group—the Adani conglomerate—has continued to borrow and invest at a breathtaking pace.

The Economist has estimated that the combined revenues of companies controlled by Adani and fellow tycoon Mukesh Ambani, chair of India’s Reliance Industries, are equivalent to 4 percent of India’s GDP. Firms controlled by the pair also account for nearly a quarter of the capital spending of all publicly traded non-financial firms.

While many analysts fret over whether Adani Group is too big to fail, the more pertinent question is whether Adani has been too integral to the Indian economic project to fail.

Modi now faces a difficult dilemma. On the one hand, he relies heavily on large infrastructure development delivered by India’s billionaires. For example, Adani plans to develop massive renewable energy projects—and without them, India would find it challenging to fulfill its commitment to meet 50 percent of its energy requirements with renewables by 2030.

On the other hand, if Modi continues to protect Adani—as India’s opposition has alleged—by not addressing Hindenburg’s allegations, he runs the risk of undermining the credibility of India’s corporate governance and, by extension, its growth narrative.

Although India’s financial regulatory institutions are far from perfect, India has an established history of investigating and punishing financial fraud. The Adani Group scandal, however, has cast doubt on the ability of these institutions—such as the Securities and Exchange Board of India (SEBI), the country’s capital markets regulator—to operate independently.

It’s worth asking whether the Adani saga could have been anticipated, investigated, and defused long before Hindenburg came along if watchdogs had done their job.

Consider, for instance, a puzzling question that Hindenburg has sought to address: What explains the mind-boggling rise in the price of many Adani Group stocks? The price-to-earnings ratio of Adani Enterprises, the conglomerate’s flagship entity, went from 37.6 to 343.9 in just two years. But as experts have pointed out, growth of that nature is typically seen in companies in the technology sector, not brick-and-mortar industries.

There could be innocuous explanations, but the fact that the company’s board of directors didn’t examine the issue publicly opened the door for worrying allegations put forth by Hindenburg. In particular, the short seller has alleged that Adani Group’s stocks are being inflated by the conglomerate itself through secretive offshore entities.

This brings us to the question of what India’s stock market and banking regulators were doing. Long before Hindenburg came along, news outlets had pointed to the existence of three Mauritius-based funds that appeared to only invest in Adani Group companies and whose ultimate ownership was opaque. Why weren’t these funds forced to furnish details of their ownership structure at any point in the last few years and nip allegations of “round-tripping” in the bud?

In addition, SEBI continued to sign off on the conglomerate’s fundraising proposals even though the Indian government disclosed in Parliament in 2021 that SEBI had begun a probe to investigate some Adani Group companies over “non-compliance of rules.” It’s unclear what the scope of the SEBI investigation was and whether it has concluded.

For years, India’s beleaguered political opposition has accused regulatory authorities of corruption and raised allegations of crony capitalism, specifically pointing to Adani. But given the opposition’s lack of specific allegations made against SEBI, it seems more likely that the economy and stock market’s overseers are simply indifferent and plagued by inertia. Regardless, these accusations, and the Adani Group controversy, have not hurt Modi’s popularity, thanks in part to his administration’s tight control over the mainstream media.

Yet there may be consequences that stem from outside of India’s borders. It’s possible that global investors will become less bullish on India if they think that Indian business empires won’t be able to build necessary infrastructure or be reined in by domestic regulatory systems. Overseas partnerships and joint ventures could face headwinds as well, just as the Adani-TotalEnergies partnership has.

A fair, independent, and transparent probe into the allegations against Adani Group could ease these fears. Modi has so far ignored demands for one made by opposition political parties. But continuing to do so could very well be damaging to the long-term economic interests of India, and the world, even if it does not hurt Modi politically in the short term.

[businessviewpointmag]

Gautam Adani Indicted in US Over Alleged Bribery and Fraud Scheme

https://businessviewpointmagazine.com/wp-content/uploads/2024/11/BVP-21-11-2024-1-Gautam-Adani-Indicted-in-US-Over-Alleged-Bribery-and-Fraud-Scheme-Source-businesstoday.in_.jpg

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Source: businesstoday.in

Allegations of Bribery in Solar Contracts

Billionaire Gautam Adani, the chairman of India’s Adani Group, has been indicted in New York for his alleged role in a $265 million bribery scheme tied to solar energy contracts. U.S. prosecutors revealed that Adani, alongside seven other individuals, including his nephew Sagar Adani, allegedly paid bribes to Indian government officials to secure solar supply deals. These contracts were projected to generate $2 billion in profit over two decades.

The indictment disclosed that conspirators used code names such as “Numero Uno” and “The Big Man” for Gautam Adani, while Sagar Adani allegedly tracked bribery details using his phone. The charges also encompass violations of the U.S. Foreign Corrupt Practices Act, an anti-bribery law, which prohibits corrupt practices in international dealings.

Among the accused are executives from Adani Green Energy, including Vneet Jaain, and former senior officials from Azure Power Global. Prosecutors allege that the defendants engaged in fraudulent practices to raise over $3 billion through loans and bonds, concealing the corruption from lenders and investors. Arrest warrants for Gautam Adani and Sagar Adani have been issued, with U.S. prosecutors set to transfer these warrants to foreign law enforcement agencies.

Responses and Legal Repercussions

The Adani Group has yet to respond to the allegations, with no immediate comment from India’s embassy in Washington or legal representatives for the accused. In addition to the criminal charges, the U.S. Securities and Exchange Commission (SEC) has filed related civil charges against Gautam Adani, Sagar Adani, and another co-defendant, Cyril Cabanes, a dual French-Australian citizen.

The charges have cast a spotlight on the Adani Group, which has faced scrutiny before. In January 2023, U.S.-based Hindenburg Research accused the conglomerate of using offshore tax havens improperly, a claim the Adani Group denied. This earlier controversy led to a $150 billion decline in the company’s market valuation.

Economic Impact and Recent Developments

Gautam Adani, 62, is the second-richest person in India and ranks as the world’s 22nd wealthiest individual, with a net worth of $69.8 billion, according to Forbes. Despite the allegations, Adani recently announced plans to invest $10 billion in U.S. energy projects, which he claimed would create 15,000 jobs. This announcement came amid his efforts to strengthen ties with the U.S. and during a congratulatory message to President-elect Donald Trump in 2016.

Just hours before the charges were revealed, Adani successfully raised $600 million through the sale of “green” bonds, a move that further highlights the financial stakes involved. The unfolding legal battle threatens to impact not only Adani’s personal fortune but also the reputation and operations of his sprawling business empire, which spans energy, logistics, and infrastructure.

The case serves as a critical test of international anti-corruption laws and raises questions about corporate governance and transparency in major global conglomerates

[nsfwhiphop]

Dialogue between Zoe, Rosario, and Crown Prince Angelo: (@zoesaldana and (@rosariodawson): Zoe: "Wait, did I hear that correctly? You’ve never met Gautam Adani or Elon Musk?" Crown Prince Angelo: "Yes, you heard it right. I’ve never met them, and I don’t plan on meeting them. I stay away from them to avoid media scrutiny." Rosario: "Wow, I didn’t know that! You really avoid everyone. You’re like, seriously anti-social. It’s a whole lifestyle." Crown Prince Angelo: "Yeah, I steer clear of billionaires and Hollywood celebrities. I’m not interested. Instead, I sit down with world leaders and bankers who control trillions in Asia. My influence in Asia is massive, I’m huge in Asia, and there are countless banks there with trillions of dollars ready to back my agenda. I don’t need anyone else." Zoe: "Wait a minute… So, while we're chasing after billionaires with $200 billion net worth, you're out here targeting banks that control trillions of dollars?" Crown Prince Angelo: "Exactly. It’s a different game. I’m not interested in small change. I’m after the big players who shape the future, not the ones who just want to show off their wealth."

[voiceofentrepreneurlife]

Meet the Billionaire Richer Than Ambani and Adani

Jensen Huang, the self-made billionaire and founder of Nvidia, one of the world’s most valuable companies with a $3.6 trillion net worth, ranks 11th among the world’s richest individuals, surpassing Mukesh Ambani and Gautam Adani.

Starting as a dishwasher at Denny’s after graduating from Aloha High School near Portland, Huang earned a master’s degree in electrical engineering from Stanford University before working at LSI Logic and AMD. In 1993, he co-founded Nvidia with friends Chris Malachowsky and Curtis Priem. His hard work and leadership have brought him a net worth of $111 billion, solidifying his place among the wealthiest.

In a recent interview, Huang shared his love story with his wife, Lori Huang, whom he met as a 17-year-old freshman at Oregon State University. At a Hong Kong University of Science and Technology event, the 61-year-old revealed his clever pickup line to win her over: “I walked up to her and said, ‘Do you want to see my homework? If you do homework with me every Sunday, I promise you’ll get straight As.’”

At the time, Lori was 19, and Huang admitted that he looked like a child, using homework as an excuse to spend time with her. Their weekly Sunday dates eventually led to their marriage five years later. The couple now has two children, Madison and Spencer, who are involved with Nvidia.

Also Read - https://voiceofentrepreneur.life/meet-the-businessman-wealthier-than-mukesh-ambani-and-gautam-adani-who-charmed-his-wife-with-a-simple-pickup-line/

[amarsikkha]

Top 10 Richest Person in India

India is home to a diverse and rapidly growing economy, which has given rise to numerous billionaires. In this article, we will explore the top 10 richest individuals in India, their sources of wealth, and their contributions to the economy. Understanding these magnates not only provides insight into India’s economic landscape but also highlights the entrepreneurial spirit driving the nation forward.

1. Mukesh Ambani

Net Worth: Approximately $100 billion (as of 2023) Source of Wealth: Reliance Industries

Mukesh Ambani is the Chairman and Managing Director of Reliance Industries Limited (RIL), a conglomerate with interests in petrochemicals, telecommunications, and retail. Under his leadership, RIL has expanded its reach globally, making significant investments in digital services through Jio Platforms. Ambani's innovative strategies have positioned him as one of the most influential business leaders in the world.

Contributions to Economy

Ambani’s initiatives, especially in telecommunications, have revolutionized how millions of Indians access the internet, fostering a digital economy that supports various sectors, from education to e-commerce.

2. Gautam Adani

Net Worth: Approximately $75 billion Source of Wealth: Adani Group

Gautam Adani, the founder and chairman of the Adani Group, has interests ranging from energy to logistics and agriculture. His rise to wealth has been meteoric, largely driven by India's infrastructure boom and the need for renewable energy solutions. The Adani Group is a key player in coal mining, solar power, and port operations, which are vital for India's economic growth.

Contributions to Economy

Adani’s commitment to renewable energy has made him a significant contributor to India’s sustainability goals. His investments in solar energy projects are positioning India as a leader in renewable energy production.

[starbiopic]

Nvidia's CEO Jensen Huang Surpasses Gautam Adani, Net Worth Reaches $106 Billion

In a remarkable rise, Nvidia’s CEO Jensen Huang has overtaken Gautam Adani to claim the 14th spot on the world’s richest people list. The development came after Prime Minister Narendra Modi’s meeting with top industry leaders during his recent US visit, which included a meeting with Huang. Nvidia, a leading global company specializing in AI chips, saw its stock price jump by 4% on Tuesday. This…

[drishtidarshan]

World's First Trillionaire Elon Musk followed by Gautam Adani in 2028: Report

According to a recent report by Informa Connect Academy, Elon Musk is on track to become the world’s first trillionaire by 2027. This achievement is due to his remarkable wealth growth, which has grown at an average annual rate of 110%. Musk is currently the richest person in the world, with a net worth of $237 billion, as reported by the Bloomberg Billionaires Index.  Elon Musk’s move towards…

[mybharatguru]

Adani is the country's first billionaire, surpassing Mukesh Ambani.

Adani has overtaken Mukesh Ambani to become the top billionaire in the country. Adani topped the Hurun India Rich List for 2024, overtaking Mukesh Ambani who was at the top. Gautam Adani, who holds the status of the country’s richest man, has a net worth of Rs 11.6 lakh crore. This is 29 percent more than last year. This list says that there are a total of 334 millionaires in the country.…