Gautam Adani, the low-key Indian tycoon and founder of Indian conglomerate Adani Group
Bloomberg reports that according to the Bloomberg Billionaires Index, Indian tycoon Adani’s net worth will increase by $16.2 billion to $50 billion in 2021, surpassing the $8.1 billion increase of Asia’s richest man, Mukesh Ambani; all of Adani Group’s stocks have increased in price this year. All the stocks of Adani Group, only one of them has not increased by (at least) 50% this year.
According to the report, Adani Group’s business spans ports, power plants, airports, data centers and coal mines, and has attracted investments from Total SA and Warburg Pincus. Adani also insists on promoting the Carmichael mine project near Australia’s Great Barrier Reef, but the Australian Conservation Foundation says mining there threatens to produce 705 million tons of climate pollutants a year.
Adani Total Gas, an affiliate of the Adani Group, has reportedly risen 96 percent this year, Adani Enterprises 90 percent, Adani Transmission Ltd. 79 percent, while Adani Power Ltd. and Adani Ports and Special Economic Zones Ltd. Economic Zones Ltd. have both risen more than 52% this year. (Adani Green Energy Ltd.) rose more than 500% last year, but so far this year has risen only 12%.
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