Gautam Adani is now richer than Mukesh Ambani and Mark Zuckerberg $31 billion

Published: February 5, 2022
Updated: March 3, 2022
Gautam Adani is now richer than Mukesh Ambani
Gautam Adani is now richer than Mukesh Ambani and Mark Zuckerberg

Gautam Adani is now richer than Mukesh Ambani and Mark Zuckerberg

Since Meta platforms Inc’s stock plunged around 26 percent, Mark Zuckerberg experienced a loss of as much as $31 billion. This followed a massive disappointing earning forecast and resulted in the alteration of the billionaire index. Also, this erased nearly $251 billion from the entire market value. 

Also, the loss of shares invited the loss of daily users for the first time on Facebook. It experienced a high downfall of about 5 lakh users daily, especially in the last quarter of 2021. Research suggests that the company’s growth stagnated for the first time as per the latest earning reports. 

According to various reports, this is the biggest ever single-day market value wipeout, which altered the billionaire index incredibly. It brought down founder and Chief Executive officer Mark Zuckerberg’s net worth to $85 billion. He earlier owned about 12.8% of Meta Inc stocks which was earlier widely known as Facebook. 

As per various other reports, the overall stock value of Meta crashed by about 200 billion USD, which resulted in tremendous loss. In the fourth quarter, Meta reported a massive turnover of 33.67 billion dollars but was only able to profit $10.3 billion in their net profit. 

This was compared and contrasted with its previous year’s profit, which was 8% less than what was in 2021. Due to this considerable downfall, Zuckerberg has now reached the twelfth position on Forbes’ list of real-time billionaires below Mukesh Ambani and Gautam Adani. 

According to the billionaire index, Mukesh Ambani, the owner of India’s largest conglomerate Reliance Industries, has a net worth of about $91 billion and was known as Asia’s richest person. At the same time, Gautam Adani was only worth $88.8 billion. The former commodity trader-turned-infrastructure giant experienced a soar of $44.3 billion in 2021 with certain efficient developments in India’s infrastructure sector. 

He entered areas such as green energy to increase his overall net worth. Since the Adani shares peaked, Gautam Adani quickly beat Mukesh Amani and became Asia’s richest person. Not only this, but the sudden fall of Reliance industries shares also increasingly contributed to Gautam’s success. 

Moreover, the ongoing rise in market capitalization of various Adani enterprises and transmissions became one of the primary reasons for the increased net worth of Adani’s group. On this Wednesday, billionaire Gautam Adani surpassed Mukesh Ambani and became India’s and Asia’s Richest Person.

In the previous year, 2021, Adani had added $55 billion to his entire wealth, whereas Mukesh Ambani only added $14.3 billion. 

Apart from these accomplishments, COVID-19 continues to spread at a high rate. Reports suggest that the country’s wealthiest people doubled their fortune during these challenging times. However, poverty keeps on getting worse.

The total net worth of an individual has also become a significant mark on how well the business has performed during that time. Billionaires like Adani and Ambani exhibit the growing need for their industries, and it will undoubtedly be exciting to witness what these hold for the future!

Visit –  The International Magazine

Related Posts