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app4that t1_issrp2i wrote

Reply to comment by AdmiralKompot in [OC] World's Top 10 Richest in 2022: Gautam Adani Makes Billions, the Rest Loses Them by waynehihihi

Curious if it’s all false then where is his huge wealth gain coming from exactly?

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Additional_Baker t1_isss5m2 wrote

Santa. Lots of mean kids around this year, obviously the coal stocks would skyrocket.

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AdmiralKompot t1_isssp4m wrote

He own a lot of shit, ship ports manufacturing plants all that kinda stuff. His assets are seriously overleveraged.

At one point, he was the second richest pipping Jeff Bezos, but a couple of days later, he dropped to being the 8/9th richest.

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cherryreddit t1_isstoo1 wrote

That's like asking why is there an eclipse when my wife farts. Completely unrelated. The Indian economy as whole is growing compared to the rest of the world, A single billionaire getting more money is not because of russia. Also adani is not a big energy player, who themselves (ambani in this list ) have lost wealth.

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dog_eat_god t1_issuqjz wrote

Shipping is shipping. When you have access to cheap Russian oil it helps the bottom line.

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cherryreddit t1_issvs5f wrote

This is such a brain dead argument, but I will reply you so that others reading in the comment chain don't fall for this.

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Oil prices, even after russian discount are currently higher than pre pandemic levels. Even if it was, decreasing your fuel bills doesn't make a shipping mogul add billions to his wealth.

If access to cheap russian oil is the reason, (which is not the case ) why aren't all shipping companies becoming rich, most of them situated in china and europe. ?

The real reason adani is suddenly so much richer is because he is deeply over leveraged (taking loans) to run his businesses. He has links to current govt leaders and there is (IMO) crony capitalism/corruption involved

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dodococo t1_issskq5 wrote

Stonks! You think he made 60 billion by selling fuel!?

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