Home Business Indian business tycoon Gautam Adani beats Bezos, becomes biggest wealth gainer

Indian business tycoon Gautam Adani beats Bezos, becomes biggest wealth gainer

Gautam Adani beats Jeff Bezos and Elon Musk and his net worth has hiked from $16.2 billion to $50 billion in 2021, his ports-to-power conglomerate

Mumbai, March 13, 2021: One of India’s leading business tycoon Gautam Adani has added more billions to his wealth, leaving behind some of the world’s richest business tycoons like Elon Musk and Jeff Bezos. According to the Bloomberg Billionaires Index, Gautam Adani’s net worth has hiked from $16.2 billion to $50 billion in 2021. Thus Adani beats Bezos and Musk and has become the biggest wealth gainer. Around his ports-to-power conglomerate, Adani has succeeded in adding this year on the back of investor excitement.

Adani-beats-Bezos-Utkal-Today
Image: Twitter

Adani beats Bezos

After Adani beats Bezos, except for one, all shares of Adani group 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 Adani, who has lured investment from Total SA to Warburg Pincus.

Google Co-founder Larry Page is ranked second in terms of the highest gain in wealth with a growth of $14.3 billion, while Amazon Inc Founder Jeff Bezos is the richest person on the planet with a net worth of $183 billion, followed by Elon Musk with a net worth of $180 billion.

Moreover, Reliance Industries Chairman Mukesh Ambani is the 10th richest person in the world with a net worth of $84.8 billion.

So far in 2021, he has added $8.05 billion of wealth.

Image: Twitter

Adani beats Bezos, rapidly expanding conglomerate  

Though Adani beats Bezos, he is a self-made billionaire, who seldom speaks in the public.

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.

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

Shares increase four hold

Amidst the pandemic, shares of several Adani companies have surged over the past one-year, adding to its Chairman’s wealth.

Adani Enterprises’ shares have increased over four-fold in the past one year and the stock price of Adani Ports and Special Economic Zone has more than double during the period.

Last month, Adani Enterprises Ltd. signed a pact to develop one gigawatt of data center capacity in India.

This year, Adani Total Gas Ltd. has jumped 96% 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.

Also Read: Tata Technologies terminates 800 people, complaint filed

Written by: ANWESHA MISHRA

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