Help The Kashmir Monitor sustain so that we continue to be editorially independent. Remember, your contributions, however small they may be, matter to us.

Gautam Adani beats Elon Musk, Jeff Bezos with biggest increase in net worth

Capture 15


Industrialist Gautam Adani has seen a massive surge in his fortune in 2021, gaining more wealth than the world’s richest people Jeff Bezos and Elon Musk.

Adani’s net worth grew by $16.2 billion in 2021 to $50 billion, according to the Bloomberg Billionaires Index. The report did not specify the surge in the net worths of Bezos and Musk.

 

The net worth of Reliance Industries (RIL) Chairman Mukesh Ambani, Asia’s richest person, has risen by $8.1 billion in 2021 so far.

Shares of all listed entities of Adani’s conglomerate, except one, have rallied at least 50 percent this year, with some rallying more than 90 percent, the report said. Some of the listed entities of the conglomerate include Adani Enterprises, Adani Ports & SEZ, and Adani Power.

“Adani has been consistently expanding its business in areas that are resilient to market cycles,” Sunil Chandiramani, founder and chief executive officer at Nyka Advisory Services told Bloomberg.

“Now with the entry in data centers business, the group has also indicated its appetite for venturing into technology,” Chandiramani said.