March 13, 2021 12:03 PM
Gautam Adani; Adani Group is Making Rapid Strides in Wealth Creation
Gautam Adani, chairman of the Adani Group, is making rapid strides in wealth creation. In 2021, he will be one of the richest people in the world. According to the Bloomberg Billionaires Index, Gautam Adani’s assets grew by $ 1620 crore to $ 5000 crore (approximately Rs 3.65 lakh crore).
Elon Musk, head of Tesla, claims to have amassed wealth faster than Jeff Bozes, founder of Amazon. According to the Bloomberg Billionaires Index, the wealth of Mukesh Ambani, Asia’s richest man, has grown by only $ 810 billion this year.
Shares Soared:
Adani Group; With the exception of one of the Adani Group companies, the share prices of all other companies have risen by at least 50 per cent this year. Adani Total Gas Ltd. share price has almost doubled this year. Shares of Adani Enterprises rose 90% and Adani Transmission rose 79%. Shares of Adani Power, Adani Ports and SEZs rose more than 50 per cent.
This allowed Adani’s personal wealth to grow significantly. It is a well known fact that in recent times Gautam Adani has been rapidly expanding his business empire. Ports, airports, data centers, mines, conventional energy sources, etc. are moving forward with new projects and acquisitions of other companies.
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It is learned that in addition to securing the Mumbai International Airport project from GVK Group, the Adani Group has also secured contracts from the government to expand and operate some airports in the country. Krishnapatnam port in Andhra Pradesh was bought from Navayuga Group a year ago and recently Gangavaram port in Visakhapatnam was also transferred to Adani’s account.
Adani Group has announced that it is acquiring a 30 per cent stake in the port. Adani seems to have made it clear that he is not only interested in infrastructure projects but also in technology-based businesses by setting up data centers. Adani Enterprises has recently entered into agreements to set up 1 GW capacity data centers in the country.
