Gautam Adani's wealth surpasses $70 billion as market and group shares rise in anticipation of BJP winning in 2024.

Gautam Adani’s net worth has surpassed $70 billion, indicating a remarkable recent wealth growth. Several things can be blamed for this, such as:

Growing stock prices: In recent months, there has been a notable increase in the value of shares of Adani Group companies, mainly Adani Enterprises and Adani Ports. This is partially attributable to the optimistic market mood that is supported by projections of India’s robust economic growth.

Bharatiya Janata Party (BJP) victory predicted: The BJP is predicted by many to win the forthcoming general elections in 2024. Investors believe Adani’s enterprises could profit from policies enacted by a government run by the BJP because of his close ties to the party. His stock prices have increased as a result of this perception.

As of September 2023, a source projects Gautam Adani’s net worth to be approximately $55.2 billion. Although it has varied in the past, it is unclear if his net worth has lately topped $70 billion.

It is also true that Gautam Adani is among the wealthiest individuals on the planet, and in recent years, his net worth has grown significantly. His net worth rose by $64.8 billion in the last year alone, according to a source, making him the third richest person in the planet.

Growth and diversification: The Adani Group has purposefully expanded its holdings beyond its conventional coal-fired power plants and harbor operations. It has dabbled in new markets, including data centers, airports, green infrastructure, and renewable energy. A broader spectrum of investors has been drawn in by this diversification, which has also lessened dependence on any one sector.

Focus on infrastructure: The fundamental competencies of Adani Group are well-aligned with the Indian government’s sustained emphasis on infrastructure development. As a result, there is now more hope for the group’s future and its capacity to land significant infrastructure contracts.

It’s crucial to remember that it would be oversimplifying to attribute Adani’s whole wealth boom to hopes for a BJP victory. His financial success has been influenced by the aforementioned interrelated elements.

Nonetheless, it is indisputable that the favourable impression of the political environment under a BJP government has played a role in the good attitude surrounding the Adani Group enterprises. This has definitely contributed to his recent rise in wealth.

Adani Group It is also true that the Adani Group, which Gautam Adani founded, has been performing well in the stock market. According to a source, the value of Adani Group’s shares went up by as much as 1500% between 2019 and 2022. However, it is not clear if the rise in share prices is directly related to the anticipation of BJP winning in 2024.

What is the Adani Group?

Adani alone added $4.41 billion to his wealth on Monday, as he is now wealthier than American billionaires Rob and Alice Walton, Julia Flesher Koch & family and Michael Dell.

With this, Adani, 61, is now the 16 richest person on this planet, as per Bloomberg Billionaire index. He stood at 22d in the billionaires list a few days ago. At his peak, Adani enjoyed a fortune of $150 billion.

Adani alone added $4.41 billion to his wealth on Monday, as he is now wealthier than American billionaires Rob and Alice Walton, Julia Flesher Koch & family and Michael Dell.

Jim Walton at $70.5 billion stands just above Adani at 15th spot. Adani’s wealth likely swelled on Tuesday morning, as group shares added over Rs 90,000 crore in market capitalisation (m-cap) intraday, taking the group m-cap to near Rs 13 lakh crore mark.

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