Elon Musk loses Top Gainer position of 2021 to Indian Businessman Gautam Adani
Gautam Adani, an Indian tycoon has added more billions to his wealth this year than anyone else in the world on the back of investor excitement around his ports-to-power plants conglomerate.
A first-generation entrepreneur, who rarely speaks publicly, Adani’s net worth, has jumped from $16.2 billion in 2021 to $50 billion, according to the Bloomberg Billionaires Index. This has made him beat even Elon Musk, who has tussled with Jeff Bezos in 2021 for the title of world’s richest and become the year’s biggest wealth gainer. Except for one share of all Adani group stocks have rallied at least 50% this year.
The rise in wealth dwarfs the $8.1 billion added by the richest person in Asia and Adani’s compatriot, Mukesh Ambani. It also emphasizes the rising heft of the self-made billionaire, who has attracted investment from Total SA to Warburg Pincus. Adani has been expanding his conglomerate rapidly by adding ports, airports, data centers, and coal mines in India, while doggedly continuing 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.”
Last month, Adani Enterprises Ltd. signed an agreement to develop 1 gigawatt of data center capacity in India.
Adani Total Gas Ltd. has jumped almost 97% this year while the flagship Adani Enterprises has advanced 87%. Adani Transmission Ltd. is up 77%. Adani Power Ltd. and Adani Ports and Special Economic Zone Ltd. have gained more than 50% this year. Adani Green Energy Ltd., after rising over 500% last year, has climbed 10% so far.
