Indian Business tycoon Gautam Adani has added more billions to his wealth, beating Jeff Bezos and Elon Musk, who have tussled in 2021 for the title of world’s richest. According to the Bloomberg Billionaires Index, The net worth of Adani has increased by $16.2 billion in 2021 to $50 billion.
The surge in his wealth has made him the year’s biggest wealth gainer. Shares of all Adani group stocks, except one, have rallied at least 50% this year.
Adani’s surged wealth has dwarfed the $8.1 billion added by his 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 increasing his conglomerate in India, adding airports, ports, data centers and coal mines in India, while 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, he added.
Last month, Adani Enterprises Ltd., signed a pact to develop 1 gigawatt of data center capacity in India.
Adani Total Gas Ltd. has advanced 96% this year while the flagship Adani Enterprises has jumped 90%. 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. Adani Transmission Ltd. is up 79%.