Indian business tycoon Gautam Adani, who is India’s second richest has now become Asia’s second-richest too. Adani, the chief of infrastructure-to-renewable energy conglomerate has surpassed China’s billionaire Zong Shanshan, as per the Bloomberg Index. The current net worth of Adani Group is $66.5 billion, while Shanshan’s is $63.3 billion.
Gautam Adani is now at the 14th spot on the index. Above Adani, Reliance Industries chairman Mukesh Ambani is in the 13th spot with a net worth of $76.5 billion. Ambani overtook Zhong Shanshan, the head of China-based beverages-to-pharma conglomerate, in February and had become the richest Asian.
Adani’s net worth has climbed by $32.7 billion in the past year, Ambani has lost $175.5 million. At a time, Shanshan stood sixth on the list of the world’s richest man, but, his net worth has dropped for the past few months.
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Adani started his career as a commodity trader and now has multiple businesses spanning across sectors such as energy, ports, airports, logistics, agriculture, real estate, financial services, FMCG, gas distribution and defense, etc.
Over the last one year, Adani Total Gas share has raised to 1145% along with Adani enterprises to 827%, Adani Transmission 617%, Adani Green Energy 433% and Adani Power to 189%.
Meanwhile, over this one year, the Adani group has also been involved in the controversy because of a buyout of a coal mine in Queensland in Australia. The group has also signed a large number of deals in India.
Within two years, the Adani group has gained control of seven airports. The conglomerate has taken over the Mumbai International Airport and the controlling stake in the upcoming Navi Mumbai International Airport.
It has also made a rapid rise in renewable energy capacity addition.