Gautam Adani, the second richest man in India, has seen his wealth grow by over 500% in the last year. As per Forbes’ real time data on billionaires, Adani’s wealth has now crossed $60 billion. In fact, Adani beat the world’s richest men Jeff Bezos and Elon Musk in terms of wealth amassed in 2021.
The billionaire runs the conglomerate Adani Group, which has six listed companies with a combined worth of over $80 billion.
The surge in his wealth comes from the market rally in the stocks of his companies in the last few months.
Here’s how the share price of the listed entities of the Adani group have grown in the last six months (since October, 2020).
|Company||Share price jump since Oct, 2020|
|Adani Ports and Special Economic Zone||118.1%|
|Adani Green Energy||47.4%|
2020 turned out to be a great year for Adani with most of his businesses witnessing their profits go up.
Adani’s ports business has been one of the most successful ventures, which has also seen rapid expansion in the last year. With the acquisition of several new ports in the country, the Adani subsidiary company saw its market share in container volumes go up from 5% to 41% in the last financial year. Overall, the company has a market share of 25%, witnessing a growth of 4% in FY21.
Courtesy – https://www.businessinsider.in/