Gautam Adani sees biggest wealth increase, beats Musk, Bezos

Last updated on March 25th, 2021 at 09:28 am

Gautam Adani has seen a massive addition to his fortune this year, surpassing the wealth of the world’s richest businessmen, including Jeff Bezos and Elon Musk. According to the Bloomberg Billionaires Index, Adani’s net worth has increased by $16.2 billion in 2021 to $50 billion. With this development, Gautam Adani has become the biggest wealth gainer in the world this year. Reportedly, shares of most of the stocks of the Adani group rallied at least 50% through year.

At the same time, Asia’s richest person and Reliance Industries (RIL) boss Mukesh Ambani also saw his net worth surge by $8.1 billion in 2021.

Last week, Adani Enterprises’ shares touched a 52-week high of Rs 944.75 per share on the Bombay Stock Exchange (BSE) intra-day trade, contributing to the company’s entry into the Rs 1-trillion market capitalisation club. Adani Enterprises is the third company of the Adani Group to have crossed the Rs 1-trillion market capitalisation, after Adani Green Energy (Rs 1.85 trillion market-cap) and Adani Ports and Special Economic Zone (Rs 1.52 trillion market-cap).

Significantly, the Indian business tycoon has been expanding his business across diversified sectors in India including aviation, coal mining and technology.

Last month, Adani Enterprises Ltd. signed a deal to boost 1 gigawatt data center capacity in the country. Furthermore, it also signed a joint agreement with US-based EdgeConneX to develop and operate data centers across India.

“The JV will develop and operate data centres throughout India, leveraging the two partners’ complementary expertise and capabilities,” the Ahmedabad-based company said in its regulatory filing.

Recently, Adani Ports and Special Economic Zone Limited announced that Warburg Pincus’s Windy Lakeside Investment Ltd is going to invest Rs 800 crore for a 0.49 percent stake in the company.

In a December 2020 statement, Gautam Adani had said that Adani Enterprises was able to grow its revenue due to the resilience of India’s economy.

“Adani Enterprises continued its journey towards laying the foundation for several new businesses that the group is venturing into. These include airports, data centre, roads, and water,” the Adani Group Chairman had said.

As of Friday, Adani Enterprises is one of the top-50 most valuable companies in India.

Earlier, Adani Airports won the mandate in the tendering process conducted by the Airports Authority of India (AAI) to revamp and operate six airports, including Jaipur, Ahmedabad, Lucknow, Guwahati, Mangaluru, and Thiruvananthapuram for the next 50 years.