Meet Rajiv Jain, billionaire CEO who helped Adani with Rs 15,556 crore, his net worth is equally impressive

Adani Group has been under duress for well over a month. A report by short-sellers Hindenburg said Adani Group was inflating its share values. The next 37 days saw a bloodbath for the Adani Group shares on the stock markets. On Wednesday, however, the promoters of the Adani Group sold 21 crore shares of four of its companies at a whopping price of Rs 15,556 crore. Despite the Supreme Court forming a committee to probe the allegations, Adani shares ended the day on a high note. Adani Enterprises share rose by a whopping 18 percent, lending a new lease of life to the flagging Adani businesses. An Indian-American named Rajeev Jain played a huge role in this. Here’s what happened.

On Friday, the Adani Group sold shares of four companies to GQG Partners via secondary block trade transactions. GQG is an investment firm that primarily works in the emerging markets. It is an asset management firm, headquartered in Florida. The company also has offices in London, Seattle and Sydney. The company is completely owned by its own employees. This company had bought an IPO in 2021 and generated 1.187 billion dollars. The man behind this company is Rajiv Jain. 

Who is Rajiv Jain?

GQG Partners was formed in 2016 by Rajiv Jain. He is the chairman and the CEO of the company. He is of Indian origin. He bought his first stock when he was in high school. He started managing people’s money when he was just 22 years of age. Before starting his own company, he worked for Vontobel Asset Management in June 2016. He was the co-chief executive officer, chief investment officer and head of equities. 

He was born in India. He did his MBA from Miami. He says his motto is to safeguard assets in difficult markets and invest them in emerging markets. They invest in companies that will give bumper returns in just five years.

He now wants to concentrate on the energy sector as the world is moving away from a fossil-fuel based economy and gravitating towards the Net Zero economy. Since the Adani Group has been investing in renewable energy and green hydrogen, Jain backed the group. The group wants to invest 75 billion dollars into this sector. 

GQG did bumper business on Adani shares in just 2 days. They scored a profit of Rs 470 per share on the flagship Adani Enterprises share.

Their interest in the Adani business also improved the buyer’s sentiments. It is likely to help the group. 

Jain did his schooling and graduation in Rajasthan. He moved to America for further studies.

He owns around 70 percent of the company. His stake is worth 2 billion dollars.