Gautam Adani becomes the richest person in Asia with gains of USD 12 billion in a year!

According to the Bloomberg Billionaires Index, Adani’s net worth now stands at USD 88.5 billion, as compared to the USD 87.9 billion net worth of Mukesh Ambani.

Gautam Adani, the 59-year-old business mogul, has become the richest person in Asia after massing a wealth of USD 12 billion in the last one year! In this race to the top, he has surpassed Mukesh Ambani, the chairman, managing director, and largest shareholder of Reliance Industries Ltd.  

Adani’s business interests span across resources, logistics, energy, agriculture, defence and aerospace, amongst others. Many of the Adani led businesses have given investors phenomenal returns in the last year. In the last one year, shares of Adani Enterprises have rallied by more than 100 per cent, whereas, the shares of Adani Total gas have gained by more than 300 per cent in the same period.  

Amongst other astonishing achievements, in just three years, Adani got hold of seven airports and nearly 25 per cent of India’s air traffic. 

Moreover, to reduce dependency on conventional sources of energy, the industrialist had turned his attention towards new areas of business, such as renewables, in which he pledged to invest a total of USD 70 billion by the year 2030 to make Adani Group the largest producer of renewable energy. This is reflected in the share price movement of Adani Green, which, since Jan 2020, have advanced by 870 per cent. 

From being the son of a small textile merchant to becoming Asia’s richest person, the achievements of Gautam Adani are no mean feat!