With a net worth of USD 88.5 billion, Gautam Adani is now Asia’s richest person!

In just a year, Adani amassed fortune gains of USD 12 billion!

Gautam Adani, the 59-year-old business mogul whose business interests span across resources, logistics, energy, agriculture, defence and aerospace, amongst others, has now become Asia’s richest person. In this race to the top, he has overtaken Mukesh Ambani, the chairman, managing director, and largest shareholder of Reliance Industries Ltd.

As per the Bloomberg Billionaires Index, Adani’s net worth now stands at USD 88.5 billion, higher than Mukesh Ambani’s net worth of USD 87.9 billion. In just one year, Adani amassed fortune gains of USD 12 billion!

The journey to the top

Keeping up with the efforts 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 sworn to invest a total of USD 70 billion by the year 2030 to make Adani Group the largest producer of renewable energy. 

In the next 3 years, by 2025, he plans to increase the capacity of his renewable energy by 8-fold. This move is aligned with India’s commitment to the UN-Energy Compact, after which, the government announced ambitious targets of reaching 450 GW of renewable capacity by 2030. 

Moreover, in just 3 years, Adani got hold of seven airports and nearly 25% of India’s air traffic. 

Looking at the performance of the Adani led businesses, many of them have given investors exceptional gains. Shares of Adani Green and Adani Total Gas Ltd have jumped by more than 1000% on the bourses. Similarly, shares of Adani Enterprises have rallied by more than 730% as compared to gains of 40% made by the broad market index S&P BSE Sensex. 

All these achievements are no mean feats. Who could have known that the son of a small textile merchant would one day become Asia’s richest person!