Industrialist Gautam Adani’s wealth has increased the most in the world so far in 2021, Bloomberg reported on Friday.
Adani, who is currently the 26th richest person in the world, according to the Bloomberg Billionaires Index, has added $16.2 billion (nearly Rs 1.18 lakh crore) to his wealth this year. His total net worth on Friday stood at $50 billion (approximately Rs 3.6 lakh crore).
To put Adani’s gains into perspective, the world’s richest person, Amazon owner Jeff Bezos, has lost $7.59 billion (around Rs 5,600 crore), while the second richest person Tesla and SpaceX chief Elon Musk, has added $10.3 billion (nearly Rs 7,500 crore) to his wealth this year.
India’s richest person and the world’s 10th richest individual, Mukesh Ambani, has gotten wealthier by $8.05 billion (approximately Rs 5,900 crore).
Adani Green Energy Ltd and Adani Ports account for more than half ($27 billion) of his total wealth, Bloomberg data showed. However, apart from ports and airports, he has also been adding data centres and coal mines to his business at a rapid pace in India, according to the report.
Last year, Adani bid for as many as 12 of the 19 coal mines that went under the hammer in their first commercial auction in India. Shares of all Adani Group stocks, except one, have rallied at least 50% this year, according to Bloomberg.
“Adani has been consistently expanding its business in areas that are resilient to market cycles,” Sunil Chandiramani, founder and Chief Executive Officer at Nyka Advisory Services, told Bloomberg. “Now with the entry in data centers business, the group has also indicated its appetite for venturing into technology.”
(Corrections and clarifications: There were some errors in the USD to INR conversions in this report. The mistakes have been rectified.)