The Indian tycoon, whose empire includes ports, mines and green energy, is the latest whose fortune reached more than the $US100 billion mark. Up almost $US24 billion this year, he’s the world’s biggest gainer and joins nine other members of the elite group with a fortune now worth $US105 billion.
He’s also exploring potential partnerships in Saudi Arabia, including the possibility of buying a stake in the world’s largest oil exporter, people with knowledge of the matter said. His focus on expanding in areas that Indian Prime Minister Narendra Modi deems crucial to nation-building and meeting the country’s long-term economic goals is paying off: Some Adani Group stocks have surged more than 1000 per cent since 2020.While 2021 was a good year for the rich, with the world’s 500 wealthiest people adding more than $US1 trillion to their combined fortunes, Adani, 59, stood out. His net worth soared by $US42.7 billion, one of the biggest gains.
Mr Adani and Mr Ambani, 64, the chairman of oil-and-petrochemicals giant Reliance Industries, reached the pinnacle of a wealth ranking that’s dominated by people who largely made their fortunes in the US technology sector. Like Mr Adani, Mr Ambani was able to pivot his conglomerate to new industries - e-commerce and tech - getting billions of dollars in investments from backers including Facebook and Google.
Wealth creation has accelerated in recent years. In 2017, Amazon.com’s Jeff Bezos was the first to hit the $US100 billion milestone since Microsoft Corp co-founder Bill Gates back in 1999. Tesla’s Elon Musk, now the world’s richest person with a fortune of $US288 billion, joined the group in 2020.
Oxygen thieves
Thank you Moodi for that!