Gautam Adani Becomes Second Richest Person in Asia After Massive Surge in His Wealth, Replaces China's Zhong Shanshan
Adani Group Chairman Gautam Adani has become Asia's second richest man after massive surge in his wealth this year.
New Delhi, May 21: Adani Group Chairman Gautam Adani has become Asia's second richest man after massive surge in his wealth this year. According to the Bloomberg Billionaire Index, Gautam Adani replaced China’s Zhong Shanshan as second richest Asian with total net worth $66.5 billion as of May 20. Reliance Group chairman Mukesh Ambani is the richest man in Asia. Adani Green Energy to Acquire SB Energy's 5 GW India Renewable Power Portfolio.
Adani’s wealth has surged by $32.7 billion this year, while Shanshan's wealth dropped by$14.6 billion, a report by Bloomberg said. Adani's fortune has increased over $32 billion in 2021 so far, the third highest wealth surge this year. He is currently the 14th richest man in the world, behind Mukesh Ambani who is on 13th position. Adani Transmission Net Jumps Four-fold to Rs 256.55 Crore in March Quarter.
The rise in Adani's wealth is attributed to soaring prices of share prices of Adani Green, Adani Enterprises, Adani Gas and Adani Transmission. There has been nearly 12-fold rise in share prices of Adani Total Gas in the past year. Adani Enterprises and Adani Transmission shares have surged more than eightfold and six-fold, respectively.
Adani, who started as a commodity trader, today owns some of the biggest and most important infrastructure projects in the country. His companies have been on an acquisition spree. Adani Green Energy Limited (AGEL) on Wednesday signed the share purchase agreements for the acquisition of 100 per cent interest in SB Energy India from SBG (80 per cent) and Bharti Group (20 per cent).
This is one of the largest acquisition in the renewable energy sector in India. With this acquisition, AGEL will achieve total renewable capacity of 24.3 GW (1) and operating renewable capacity of 4.9 GW. Adani Ports has been acquiring ports on the eastern and western shores of the country.
(The above story first appeared on LatestLY on May 21, 2021 08:38 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).