The highest-earning person in the country during the epidemic is Gautam Adani. He has beaten many veterans in terms of daily earnings. This includes many other top businessmen including Reliance Group owner Mukesh Ambani and Microsoft’s owner Bill Gates. According to the Bloomberg Billionaires Index in 2020, Gautam Adani has so far earned 456 crore rupees per day. Elon Musk tops the list. Musk earned 2.12 thousand crores daily.
Elon Musk at the forefront
According to the index, Elon Musk’s assets increased by Rs 69 lakh crore from January 2020 to November 21. At the same time, Gautam Adani’s net worth increased by Rs 1.48 lakh crore. The wealth of Mukesh Ambani and Bill Gates has also increased by 1 to 1.07 lakh crores. Mukesh Ambani has ranked 11th in the list of world’s richest with a total net worth of 5.35 lakh crore net worth, which was fourth on August 8. On the other hand, Gautam Adani is ranked 40th in the index.
Increase in net worth is the
greater share of promoters in companies, while participation in profits is also higher. This also increases the net worth of the promoters i.e. the owner from the company’s profits. In this context, companies of Gautam Adani have made great profits.
Why Adani ‘s rise in net worth?
- Adani Group has 6 companies listed in the market. Barring Adani Green and Adani Transmission, the other four reported strong profits in the second quarter. This includes Adani Gas, Adani Enterprises, Adani Port and Adani Power.
- Shares of the group companies have registered a spectacular growth since January. Adani Green’s stock has gained up to 550%. Shares of Adani Gas and Adani Enterprises also saw impressive gains.
- According to Forbes, the Adani Group has revenues of $ 13 billion, which comes from defense, power generation and transmission, edible oil and real estate.
Why backward Ambani?
- RIL’s profit during the September quarter decreased by 15% over the previous year.
- On 16 September, RIL’s stock was trading at Rs 2,324.55, slipping 18% to close at 1,899.50 on 20 November.
- In 45 days, the market cap of Reliance Group in the NSE has also come down from Rs 15.68 lakh crore to Rs 2.97 lakh crore to Rs 12.71 lakh crore.
- According to Forbes, Reliance Industries has revenues of $ 88 billion. The company’s core businesses are petrochemical, oil and gas, telecom and retail.
Adani says in front of the country’s richest Ambani –
Mukesh Ambani’s total net worth is Rs 5.35 lakh crore according to the latest data from the Bloomberg Billionaires Index. Mukesh is the richest person in Asia and the 11th richest person in the world. At the same time, Gautam Adani’s net worth is Rs 2.32 lakh crore. Ranked 40th in the list of world’s richest.
Market cap of companies
- 6 companies are listed on the stock market under Reliance Group. This includes Reliance Industries, DEN Network, Hathway Cable, Network 18 Media Network, RIL Industrial Infra, Hathway Bhawani Cable. The market cap of only Reliance Industries in the BSE is Rs 12.84 lakh crore.
- RIL comprises other major businesses including Oil, Retail, Geo and Petrochemical.
- A total of 6 companies of Adani Group are listed on the stock market. The Adani Group’s total market cap in the BSE is Rs 3.89 lakh crore. Adani Green has a market cap of Rs 1.77 lakh crore.
Other major businesses
- Reliance Group’s core business is in the energy sector. In 2016, the company entered the telecom sector. It is currently the market leader with 35% share. Apart from this, RIL is also expanding the business rapidly in retail. Under this, it has acquired the retail business of Future Group for 24 thousand crores, which has been approved by CCI recently.
- Gautam Adani is called Port Tycoon. Adani operates Gujarat’s largest and busiest Mundra port in the country. Also, Adani’s business is spread in the area of coal mining and other natural resources. The group also has a large stake in gas and power distribution, thermal power, real estate, grocery, airport and edible oil segments. Adani owns a 74% stake in the country’s busiest Mumbai airport.
Adani Group’s focus
- The Adani Group will invest Rs 70,000 crore in the next 20 years for a data center in Visakhapatnam city in Andhra Pradesh.
- Adani Enterprises will invest Rs 50,000 crore in the next 5 years to expand the airport business.
- After nearly a decade, in 2019, the Adani Group won in Australia’s $ 16 billion coal project case. It is estimated to produce around 60 million tonnes of coal annually.
- The Adani Group is working on the acquisition of Trivandrum International Airport in Kerala. It is currently held up due to a dispute with the state government.
- Adani Green Energy has announced a 6 billion dollar (44.50 thousand crore rupees) power project in June this year.
Reliance Group’s focus
- Reliance Industries Limited (RIL) will invest US $ 50 million or about Rs 372 crore in Breakthrough Energy Ventures Limited II LP (BEV). RIL has said that an agreement has been reached between the two companies regarding this investment. Breakthrough Energy Group is led by Microsoft founder Bill Gates.
- Recently the Competition Commission of India (CCI) has approved the deals of Reliance and Future Group. Under this, Reliance will acquire the retail, wholesale, logistics and warehousing businesses of Future Group.
- Between September 25 and November 9, RIL has raised more than Rs 47 thousand crore by selling 10% stake in the retail venture.