Amazon stock is down around 16% since January. This translates into a drop in Bezos’s fortune, which has shrunk by $42.8 billion this year.
Adani’s Meteoric Rise Conversely, Adani is experiencing a meteoric rise. His fortune has increased by $72.4 billion since January.
His countryman, Mukesh Ambani, ranked eighth richest person in the world with an estimated fortune of $91 billion, is the other top 10 billionaire to have seen his fortune increase (+$1.02 billion) this year. Ambani is chairman and managing director of the Reliance Industries conglomerate.
At the beginning of the year, Adani became the richest person in Asia, ahead of Ambani.
The rest of the top 10 is in the red.
The fortune of Musk, the richest man in the world, has shrunk by $6.07 billion to $264 billion.
Bernard Arnault, chairman and CEO of LVMH, (LVMUY lost $39.4 billion to $139 billion.
Bill Gates’s fortune is down $25.3 billion to $113 billion.
Warren Buffett របស់ (BRK.A (BRK.B is down $12.4 billion to $96.6 billion.
អក្ខរក្រម (Google Co-Founder Larry Page has saw his fortune drop by $33.5 billion to $94.9 billion. Sergey Brin, the other co-founder of Alphabet, lost $32.7 billion to $90.8 billion.
Larry Ellison (ORCL saw his fortune drop $16.8 billion to $90.3 billion.
Since becoming the third richest man in the world in August, Adani has seen his fortune increase by $12 billion, while Bezos’s has lost $3 billion.
The rise of Adani began during the covid-19 pandemic. In March 2020, his net wealth was valued over $6 billion. Since then, his fortune has increased by a factor of almost 25.
Given that increase, it’s also not out of the question that by year’s end, Adani could overtake Musk as the richest person.
A Conglomerate Built with Debt Adani, 60, is not well-known in the West.
Born in 1962 in Ahmedabad in western India, Adani comes from a modest family of seven children whose father was a small textile merchant.
A self-made executive, Adani started working at age 16 at the diamond dealer Mahendra Brothers, where he was responsible for sorting precious stones.
In 1988 he founded a commodity trading firm that would become the Adani conglomerate.
He has grown the group by acquiring companies with debt. Adani group has become the most valuable company in India. The company holds mines, ports and power plants; it owns a dozen commercial ports and is present in coal, electricity and renewable energy. It also has diversified into airports, data centers and defense.
Adani group also recently entered the cement sector by buying assets of cement manufacturer Holcim (HCMLY នៅក្នុងប្រទេសឥណ្ឌា ហើយក៏កំពុងស្វែងរកការបង្កើតរោងចក្រអាលុយមីញ៉ូមផងដែរ។
Adani Enterprises is the flagship of his empire. In 2021, its turnover was $5.3 billion.
On Aug. 23, the CreditSights subsidiary of Fitch Ratings warned that the conglomerate was “deeply overleveraged” and may “in the worst-case scenario” spiral into a debt trap.
ប៉ុន្តែពីរសប្តាហ៍ក្រោយមកក្រុមហ៊ុនផ្តល់ចំណាត់ថ្នាក់ឥណទានបាននិយាយថាខ្លួនបានរកឃើញថាខ្លួនបានបង្កើត "កំហុសក្នុងការគណនា" នៅក្នុងក្រុមហ៊ុនចំនួនពីរនៃក្រុមហ៊ុន Adani Group ។ វាបានកែរបាយការណ៍របស់ខ្លួន ហើយបានលុបពាក្យដែលមានន័យថា «លើសកម្រិតយ៉ាងខ្លាំង»។
CreditSights បានសន្និដ្ឋានថា "ទស្សនៈរបស់ CreditSights មិនបានផ្លាស់ប្តូរពីរបាយការណ៍ដើមរបស់វាទេ ហើយយើងនៅតែរក្សាថាអានុភាពរបស់ក្រុមត្រូវបានកើនឡើង" CreditSights បានសន្និដ្ឋាន។