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Gautam Adani Now Asia’s Richest Man After Mukesh Ambani

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Mukesh Ambani has maintained the status of the wealthiest Indian since June 2015, further strengthening his position after establishing Reliance Jio, which revolutionized India’s telecommunications industry. .. Friday’s main highlights (November 19, 2021) Adani’s total wealth at the Bloomberg Billionaire Index was 87.4 billion. Last month, RIL’s stock was revised for more than eight days, reaching a record high of Rs 2,751.35 in October, leading to the erosion of Ambani.


Mukesh Ambani, Chairman and General Manager of Reliance Industries, India’s most valuable company, has long maintained the status of the wealthiest Indian. In 2015, Sun Pharma’s top boss, Dilip Shanvian Bani, was temporarily abdicated as the wealthiest Indian. However, Ambani has maintained the status of the wealthiest Indian since June 2015, further strengthening his position after the launch of Reliance Jio, which revolutionized India’s telecommunications industry. increase.


But he now seems to have a challenger. Gautam Adani, chairman of the Adani Group and the second wealthiest Indian, has wealth with Ambani as a stock value for group companies such as Adani Transmission (up 400% last year) and Adani Enterprise (up 333% last year). Rapidly filled the gap. ), Adani Power (170% from November 2020), Adani Port and Special Economic Zone (93% last year), etc. As of Friday(November 19, 2021), the Bloomberg Millionaires Index estimates that Adan’s total wealth is US $ 87.4 billion to US $ 7 billion and Mukesh Ambani’s total wealth is US $ 94.5 billion. Last month, RIL’s share price was revised for more than eight days, reaching a record high of Rs 2,751.35 in October, eroding Ambani’s fate.


Ambani is currently the 12th wealthiest in the world and Adani is 13th in Bloomberg’s ranking of the world’s top billionaires. Over the past year, Ambani’s net worth has increased by approximately $ 18 billion and Gortam Madani has increased by approximately $ 54 billion. In
, can Adani fill the 8% wealth gap and abdicate Ambani as the wealthiest Indian?

Analysts say the odds are low. In the short term, analysts believe that RIL shares will not fall below the level of Rs 2,400. This is only 3% down from the previous closing price of Rs 2,473. The long-term outlook for Reliance Industries also looks good. The two major growth engines, Reliance Geoplatform and Reliance Retail, are growing organically and inorganically. Reliance Retail, India’s largest organized retailer, is rushing to acquire as Jio continues to expand its customer base with new product launches.

The JioPhone Next smartphone, co-developed by Reliance Industries and Google, has received encouraging reactions from retailers and consumers, according to a report from The Economic Times. With the introduction of JioPhone Next, the company aims to have a user base of 500 million. As of September 30, 2021, the company has a user base of 429.5 million. 4,444 analysts say the true value of Reliance Jio and Reliance Retail will be unleashed when a company launches an initial public offering scheduled within the next four years.

During last year’s pandemic, both Reliance Industries subsidiaries raised a cumulative 20,000 rupees from institutional investors such as Google and Facebook. At that time, Jio Platforms was 4.36 rupees and Reliance Retail was 4.6 rupees. According to various brokers, these ratings will almost double over the next four years, significantly increasing Ambani’s net worth.
Even if adani overtakes Ambani as the wealthiest millionaire in the near future, he is unlikely to stay there unless the true value of Reliance Jio and Reliance Retail has been unleashed.

The content in the above article is researched , published and managed by Content Team at Dealicopter. Please mail to content@dealicopter.com for any queries.

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Ref:-

https://www.timesnownews.com/business-economy/companies/article/will-gautam-adani-overtake-mukesh-ambani-to-become-the-wealthiest-indian/833548

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