Meet the man who earned Rs 3000 crore monthly via shares of India's ex-richest man

One of the biggest success stories in the Indian stock market recently is that of GQG Partners. The investment firm is run by Rajiv Jain, an Indian who immigrated to the United States of America. He bought shares of four companies of an Indian conglomerate in March. Less than three months after that, he has earned nearly 1.1 billion dollars (around Rs 9000 crore). Who is Rajiv Jain? How did he earn so much money in so little time?

Jain had invested over Rs 15446 crore in Gautam Adani's four companies -- Adani Enterprises, Adani Green Energy, Adani Ports and SEZ and Adani Transmission -- on March 2 this year. On May 22, the value of the company's shares was Rs 23,129 crore, a 50 percent jump on the principal investment. 

When he bought the shares, the Adani Group was firefighting a bunch of allegations levelled by American short-seller Hindenburg. The US firm had alleged stock manipulation and financial misappropriation on the part of the Adani Group. The explosive report was dismissed by the Group. However, by that time, the Adani Group's share values and Gautam Adani's net worth had plummeted. An SC-appointed panel, however, declared it found no conclusive proof of wrongdoing by the conglomerate.

He had earlier invested 1.87 billion dollars in the company. He increased his company's exposure in the Indian company to 2.4 billion dollars.

Rajiv Jain recently said in an interview that over the next five years, his company would like to become one of the largest investors in Adani Group. The company pegs the value of its holdings in Adani Group at 3.5 billion dollars. This means a profit of 1.1 billion dollars.

Who is Rajiv Jain?

Rajiv Jain was born and raised in India. In the 1990s, he moved to the United States to pursue an MBA at the University of Miami. Four years later he joined a Swiss investment firm called Vontobel Asset Management. He soon became the star manager of the company. He rose to the coveted rank of Chief Investment Officer at Vontobel. He managed assets worth 50 billion dollars.

In 2016, he ended his over two decades long association with Vontobel and launched his own company. The company got listed on the Australian Securities Exchange in 2021. 

His firm, GQG Partners, mostly invests in emerging markets. After the 2021 IPO, the company had generated around 1.18 billion dollars.

According to reports, Rajiv Jain bought his first stock when he was in Class 10.

He is a native of Rajasthan. He owns around 70 percent of the company. His stakes were worth 2 billion dollars before he invested in the Adani Group.

He is 55 years of age. He is a macro investor. He invests in companies that either have monopolies or massive market shares in any particular sector. Over 50 percent of his holdings are invested in Brazil and India, two of the fastest growing economies in the world.

His company holds stocks worth 13 billion dollars in India and plans to buy more. It holds stocks in ITC, Sun Pharma, SBI, ICICI and HDFC.