Saturday, January 28, 2023
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Adani moves closer to Bezos in net worth

After becoming Asia’s richest person, Adani Group chief Gautam Adani had earlier surpassed the net worth of Warren Buffett and Bill Gates and is now on his way to become the richest person in the world. His wealth is less than that of Amazon founder Jeff Bezos and electric car maker Tesla owner Elon Musk.

This success of Adani is astonishing. Last year, the wealth of many of the world’s rich had decreased drastically but Adani’s net worth has almost doubled. According to the Bloomberg Billionaires Index, Adani’s wealth has increased by $ 64.8 billion to more than $141 billion and has become the third richest person in the world. The main reason for their increase in wealth is the rise in the prices of oil and natural gas. Share prices of some of the Adani Group companies have more than doubled this year grow up Huh. Shares of Adani Green Energy and Adani Total Gas are trading at more than 750 times profit. Adani Enterprises and Adani Transmission are valued at over 400 times.

Musk’s Tesla and Bezos’s Amazon have a price-to-earnings ratio of around 100. The shares of Reliance Industries Chairman Mukesh Ambani’s company are trading at about 28 times. Adani is taking forward his group in accordance with Prime Minister Narendra Modi’s long-term goals of economic growth of the country. In terms of the stock market, these efforts of Adani seem to be successful. Share prices of some of his companies have risen by over 1,000 per cent in the past two years, while the Sensex has gained nearly 44 per cent in this period.

Reliance Jio Infocomm, the telecom company of Reliance Group, has announced the launch of 5G connectivity in major cities from October. These cities include Delhi, Mumbai, Chennai and Kolkata. The company’s plan is to cover every district of the country by the end of next year. coverage to deliver. Along with this, Jio has also started a service called Air Fiber. This will provide support for 5G hotspot and users will get wireless broadband connectivity on this high-speed network.

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