On the back of investor excitement around his ports-to-power plants conglomerate, Indian tycoon Gautam Adani has added more billions to his wealth than any one else in the world this year.
According to the report by Bloomberg, on the back of investor excitement around his ports-to-power plants conglomerate, Indian tycoon Gautam Adani has added more billions to his wealth than any one else in the world this year.
A first-generation entrepreneur who rarely speaks publicly, the net worth of Adani jumped $16.2 billion in 2021 to $50 billion, according to the Bloomberg Billionaires Index. Due to this development, Adani has beaten even Jeff Bezos and Elon Musk, who have tussled in 2021 for the title of world’s richest, to become the year’s biggest wealth gainer. Shares of all Adani group stocks, except one, have rallied at least 50% this year.
The surge has also overtaken the $8.1 billion added by Adani’s compatriot and the richest person in Asia, Mukesh Ambani. After getting investment from Total SA to Warburg Pincus, this development goes to underscore the rising heft of the self-made billionaire. Rapidly expanding his conglomerate, Adani has added ports, airports, data centers and coal mines in India, while doggedly proceeded with his controversial Carmichael coal project in Australia.
Adani Enterprises Ltd. has signed a pact last month clearing it’s way to develop 1 gigawatt of data center capacity in India.
During this year, Adani Total Gas Ltd. has jumped 96% while the flagship Adani Enterprises has advanced 90%. While Adani Power Ltd. and Adani Ports and Special Economic Zones Ltd. have gained more than 52% this year, Adani Transmission Ltd. is up 79%. Adani Green Energy Ltd., after rising over 500% last year, is up 12% so far.
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