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HomeIndiaGautam Adani's wealth has surged more than that of Elon Musk &...

Gautam Adani’s wealth has surged more than that of Elon Musk & Jeff Bezos this year

The net worth of Adani has jumped $16.2 billion in 2021 to $50 billion. Shares of all Adani group stocks, except one, have rallied at least 50% this year.

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Mumbai: Indian tycoon Gautam Adani has added more billions to his wealth than any one else in the world this year on the back of investor excitement around his ports-to-power plants conglomerate.

The net worth of Adani, a first-generation entrepreneur who rarely speaks publicly, has jumped $16.2 billion in 2021 to $50 billion, according to the Bloomberg Billionaires Index. This has made him the year’s biggest wealth gainer, beating even Jeff Bezos and Elon Musk, who have tussled in 2021 for the title of world’s richest. Shares of all Adani group stocks, except one, have rallied at least 50% this year.

The surge in wealth dwarfs the $8.1 billion added by Adani’s compatriot and the richest person in Asia, Mukesh Ambani. It also underscores the rising heft of the self-made billionaire, who has lured investment from Total SA to Warburg Pincus. Adani has been rapidly expanding his conglomerate, adding ports, airports, data centers and coal mines in India, while doggedly proceeding with his controversial Carmichael coal project in Australia.

“Adani has been consistently expanding its business in areas that are resilient to market cycles,” said Sunil Chandiramani, founder and chief executive officer at Nyka Advisory Services. “Now with the entry in data centers business, the group has also indicated its appetite for venturing into technology.”

Adani Enterprises Ltd. signed a pact last month to develop 1 gigawatt of data center capacity in India.

Adani Total Gas Ltd. has jumped 96% this year while the flagship Adani Enterprises has advanced 90%. Adani Transmission Ltd. is up 79%. Adani Power Ltd. and Adani Ports and Special Economic Zones Ltd. have gained more than 52% this year. Adani Green Energy Ltd., after rising over 500% last year, is up 12% so far. –Bloomberg 


Also read: India adds 40 billionaires to Hurun Global rich list, Mukesh Ambani among world’s top 10


 

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6 COMMENTS

  1. Guys he is not good guy my baba company nrc pvt Ltd mohone kalyan he is not paying single mony ..all workers last 11 years to fight against ..

  2. Rahul Gandhi is asking question. How Adani’s wealth grow when others were going down. Same question can be asked about Nehru family.

    1. From where did Motilal Nehru got his wealth?
    2. How many cases he won? How much was he paid
    3. Dis Nehru earned any income from Law practice?
    4. How much asset Nehru family had in 1947?
    5. How much it grew from 1947 to 2014? What business they did which help them earned so much wealth.

    People living in glass house don’t throw stones at others, if they don’t want to come out clean.

  3. We can look forward to more Adeni bashing by the media. We will also shortly hear the socialist relics demanding imposition of exemplary tax on him to take away this wealth.

    • No doubt it is courtesy Modi. Can the Pradhan Sevak now respond to how a selected group of individuals including the Ambanis and Adanis has been able to rake in crores and crores of rupees at the cost of poor people in this dire time of the COVID pandemic and untold misery for millions of Indians? First and foremost, the prime minister and his cronies do not possess any guts to answer the most basic questions put forward by the Indian people. Where, on the one hand, individuals, such as Adani and Ambani, are reaping the benefits of what they sowed in promoting Modi as the PM of India, as has been proven by the increases in their net worth even in these harsh times, the gullible bhakts bowing down before their messiah are in the process of getting their heads chopped off because of an abject form of apathy being followed by their so-called well-wishers. I pray to God that they regain their senses in time and come out in support of all that is secular and democratic in our country. However, I fear that it is already too late to express this sentiment.

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