INFLATED STOCK PRICES ARE BEHIND GAUTAM ADANI’S MASSIVE WEALTH SPURT
‘DEEPLY OVER-LEVERAGED’ ADANI FIRMS POSE RISK TO CREDITORS
2022-09-19 16:23
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The skyrocketing wealth of Ahmedabad-based business tycoon Gautam Adani in the last three years may be exciting news for shareholders of Adani group companies, but the same can’t be said about lenders to those enterprises as the liabilities don’t match with their real assets. According to the latest Forbes real-time billionaires list, Gautam Adani’s net worth is $148 billion, making him the world’s third richest man after Tesla chief executive Elon Musk ($253 billion) and French business magnate Bernard Arnault ($154.9 billion). Adani entered the global ‘Centibillionaires Club’ — businessmen having a fortune of $100 billion or more — in April, this year.