Gautam Adani In List Of World’s Top 10 Richest, Surpasses Mark Zuckerberg, Mukesh Ambani

Billionaire Gautam Adani surpassed Mukesh Ambani, chairman of Reliance Industries and Mark Zuckerberg, founder of Facebook to become world’s tenth richest person, according to Bloomberg Billionaires Index. Adani with net worth of $88.5 billion surpassed Ambani, whose total net worth was last recorded at $87.9 billion, according to Bloomberg's Billionaire index.

With the latest surge in his net worth, Adani has entered the elite club of world's top 10 richest people. The list is topped by Elon Musk with net worth of $235 billion, Jeff Bezos is second on the list with net worth $183 billion and Bernard Arnault is third on the list with net worth of $168 billion.

Adani also surpassed net worth of Facebook founder Mark Zuckerberg after his worth declined by $40 billion to $85 billion after recent slump in its stock price following quarterly earnings. 

Meanwhile, Gautam Adani-led Adnai Group's edible oil manufacturing company made stock market debut on Tuesday. After making a tepid opening on exchanges, Adani Wilmar shares jumped as much as 13 per cent from day's lowest level to hit high of Rs 249.

"Tepid listing of Adani Wilmar can be attributed to weak market sentiments otherwise fundamental and valuations were good for this IPO. Those who applied for listing gain can maintain a stop loss of 200 while long-term investors should hold it. New investors can also look at buying opportunities at initial weakness," said Santosh Meena, head of research at Swastika Investmart.

Adani Wilmar, the maker of popular edible oil brand Fortune, sold shares in the price band of Rs 218-230 per share during the share sale through initial public offering (IPO) which ended on January 31. Adani Wilmar IPO was subscribed 17.37 times by the last day of subscription, data from stock exchanges showed.

Adani Wilmar shares were in very high demand among the non-institutional investors which include high net worth individuals. The portion reserved for them was subscribed over 50 times.

Retail investors also participated in large numbers in the IPO as portion set aside for them was subscribed 33 times and portion set aside for qualified institutional buyers was subscribed 5.73 times.