Rajiv Jain, an India-American investor and founder of GQG Partners, made headlines with a remarkable increase in wealth, amassing over ₹17,000 crore within nine months after his firm invested in Adani Group.
Jain’s strategic investment in March significantly bolstered Adani Group, reviving its market value by billions of dollars following a substantial downturn triggered by a report from an American conglomerate. At its lowest point, Adani Group had lost nearly two-thirds of its market value, plummeting to $150 billion.
Jain’s pivotal backing restored investor confidence, leading to a remarkable resurgence in the conglomerate’s fortunes. Calculations by BQ Prime show that Jain’s investment, initially ₹20,360 crore, skyrocketed to ₹37,459 crore by December 5, an 84% increase, resulting in an impressive profit of over ₹17,671 crore.
The positive momentum was further fueled by recent developments: Adani’s green energy unit securing a $1.4 billion loan and a Bloomberg News report dismissing short-seller Hindenburg Research’s allegations, influencing a $553 million loan for Adani Ports and Special Economic Zone Ltd.’s Sri Lanka project.
Additionally, sentiments among Adani investors were lifted by the Supreme Court’s acknowledgment that media reports against the group should not be taken as definitive truth.
Rajiv Jain, based in Fort Lauderdale, United States, founded GQG Partners in 2016 and took the company public on the Australian Stock Exchange in October 2021. Born in India, Jain moved to the US in the 1990s to pursue an MBA in Miami.
Personal Stats
| Age | 55 |
| Source of Wealth | Finance, Self Made |
| Self-Made Score | 8 |
| Philanthropy Score | 1 |
| Citizenship | United States |
| Education | Master of Business Administration, University of Miami; Bachelor of Arts/Science, University of Panjab |
According to Forbes Lists
#366 – Forbes 400 (2023)
#1516 – Billionaires (2023)