Indian tycoon Gautam Adani has added more billions to his wealth than any one else in the world this year on the back of investor excitement around his ports-to-power plants conglomerate.
The net worth of Adani, a first-generation entrepreneur, has jumped $16.2 billion in 2021 to $50 billion, according to the Bloomberg Billionaires Index.
This jump has made him the year’s biggest wealth gainer, beating even Jeff Bezos and Elon Musk, who have tussled in 2021 for the title of world’s richest. Shares of all Adani group stocks, except one, have rallied at least 50 per cent this year.
“Adani has been consistently expanding its business in areas that are resilient to market cycles,” said Sunil Chandiramani, founder and chief executive officer at Nyka Advisory Services. “Now with the entry in data centers business, the group has also indicated its appetite for venturing into technology.”
Adani Enterprises Ltd. signed a pact last month to develop 1 gigawatt of data center capacity in India.
Adani Power and Adani Ports and Special Economic Zones have gained more than 52 per cent this year. Adani Green Energy, after rising over 500 per cent last year, is up 12 per cent so far.
