Adani is a first-generation entrepreneur and is considered as one of the Indian Tycoons. He was born on 24 June 1962 and is an industrialist who is the founder and chairman of Adani Group. Adani group is a multinational corporation that is involved in a lot of businesses.
Adani Group is mostly involved in port development and operations in India and is located in Ahmedabad, Gujarat, India. The Group operates mines in India, Australia, and Indonesia. It supplies coal to countries in Southeast Asia, China, and Bangladesh.
Adani Group has made the largest investment in Australia surpassing any other Indian Company. It has also invested in Carmichael Coal Mine in the Galilee Basin, Queensland. In June 2019, Adani got permission to start work on the Australian coal mine after a 9-year wait.
Adani is the second richest person in India after Mukesh Ambani and in 2019 India Today ranked Adani as the third most powerful person in India.
Sudden surge in Gautam Adani's Net worth
In 2021 Gautam Adani has added billions to his wealth. He added the most amount of money compared to anyone else in the world. The net worth of Adani jumped to $50 billion as he added an amount of $17 billion to it in 2021 according to the Bloomberg Billionaires List.
All the stocks of Adani Group which are publicly traded have increased more than 50% in 2021. This increase in his net worth has made him the world’s richest wealth gainer in 2021. He has gained more wealth than Elon Musk and Jeff Bezos who have been got the world’s richest titles.
Reliance Industries Chairman Mukesh Ambani has added 8.1 billion wealth during the year which is comparatively lesser than Adani’s. Mukesh Ambani is the richest person in India and Asia. When looking at the wealth addition in 2020 Adani still added more wealth compared to Ambani.
Reasons for a surge in Gautam Adani's Net worth
Adani group is a diversified company that has its presence in multiple businesses. Some of their businesses include renewable sources of energy or green energy, gas distribution, airports, ports and terminals, power transmission, and so on.
One of the major reasons for Adani’s surge in his net worth is the rise of his stock prices. The company has around 6 companies that are listed on the stock exchange. As of 2 March 2021, the market capitalization of the Adani group was $80 billion.
Some of Adani’s publicly traded companies have provided a return of more than 90% this year. Adani Total Gas Ltd had provided a return of over 96% this year. The flagship Adani enterprises have provided a return of 90%. Adani Green Ltd had provided 500% returns in the previous year and this year it is up 12%.
Adani Transmission has provided a return of 79%, Adani Ports, Adani Power Ltd, and Special Economic Zones Ltd have provided a return of around 52% this year.
Adani has a 66% stake in Adani Ports and Special Economic Zones Ltd. 75% stake in Adani Enterprises Ltd, 75% stake in Adani enterprises Ltd and 73% stake in Adani Power Ltd. This huge rally in the stocks have increased his net worth.
Expansion of Gautam Adani's Business
Adani is continuously expanding his corporation which is mostly made up of a number of diverse and unrelated businesses. It has been rapidly expanding its corporation by adding ports, airports, coal mines, and data centres in India.
Adani Ltd had plans to develop 1 Gigawatt of data centres in India and has signed a pact for it last year. The company had formed a 50:50 joint venture to provide data centre solutions in India. The joint venture was with global data centre operator Edge Connex which was during February 2021.
Sunil Chandiramani the founder and CEO of Nyka Advisory Services, said that Adani has been continuously expanding its business in areas from which he can quickly recover from market cycles.
He also added that now since the company has entered into providing data centres and businesses related to it, the group has shown their appetite in venturing into technology.
Who is Richer Adani or Ambani?
Adani is the second richest person in India after Mukesh Ambani.
How did Adani become rich?
1988, Gautam Adani set up his trading company Adani Enterprises Limited. In the 1990s, he started operating Mundra Port, off the coast of the Arabian Sea. From there on, Adani expanded his business into the electricity, gas, real estate sectors.
What is Gautam Adani's Net worth?
As of 2020 Gautam Adani's Net worth is $25.2 Billion. and as of 2021, his net worth is $50 Billion.
Some of the biggest Wealth Gainers other than Adani during the year 2021 are Larry Page who has added $14.3 billion in net worth with a total net worth of $97 billion.
Sergey Bin who has added $13.8 billion in net worth with a total net worth of $94 Billion. Warren Buffet has also added $12.1 billion in net worth with a total net worth of $100 billion.
Larry Page is in the second position after Adani followed by Sergey Bin and Warren Buffet. Mukesh Ambani has added $8.1 billion and is in the 13th position with a total net worth of $85 billion.