Indian Tycoon Gautam Adani Beats Musk, Bezos, Experiences Biggest Wealth Surge

The Indian tycoon Gautam Adani added billions to his wealth than anyone else in the world this year on the back of investor excitement around his ports-to-power plants conglomerate.

The surge in wealth dwarfs the $8.1 billion added by Adani’s compatriot and the richest person in Asia, Mukesh Amabi, reports a wire agency. It also underscores the rising heft of the self-made billionaire, who has lured investment from Total SA to Warburg Pincus.

Adani has been rapidly expanding his conglomerate, adding ports, data centres and coal mines in India, while doggedly proceeding with his controversial Carmichael coal project in Australia.

“Adani has been consistently expanding its business in areas that are resilient to market cycle,” said Sunil Chandiramani, founder and CEO at Nyka Advisory Services. “Now with the entry in data centers business, the group has also indicated its appetite for venturing into technology”.

Adani Enterprises signed a pact last month to develop one gigawatt of data center capacity in India.

Adani Total Gas has jumped 96 percent this year while the flagship Adani Enterprises has advanced 90 percent. Adani Transmission is up 79 percent. Adani Power and Adani Ports and Special Economic Zones have gained more than 52 percent this year. Adani Green Energy, after rising over 500 percent last year, is up 12 percent so far.