image credits: the quint
Gautam Adani’s and his group of enterprises’ rise has been rapid in recent years. The Ahmedabad-based group has risen from obscurity to become one of India’s wealthiest family-owned firms, surpassing the Tatas, Birlas, and Wadias, among others.
In terms of wealth, only Mukesh Ambani surpasses Gautam Adani. Ambani has a fortune of $77 billion, while Adani has a fortune of $69 billion. In fact, Adani has added 75 crore every hour to his wealth since the beginning of 2021, surpassing Jeff Bezos and French luxury tycoon Bernard Arnault, who was briefly the world’s richest person.
The group’s concentration on infrastructure investments is the tale behind Gautam Adani’s quick rise in fortune and profile. The Adani group has completed acquisitions of 50,000 crore in the last two years, with 25,000 crore coming in the previous year alone.
Even while the globe – especially India – struggled to cope with the COVID-19 pandemic, Adani group companies in the power, ports, gas distribution, and power transmission sectors have experienced a multi-fold growth in market capitalization – some of these have seen share prices rise by nearly 11 times.
Last year, the six Adani Group companies had a combined market capitalization of Rs.1.64 lakh crore. This has now risen to over 8.5 lakh crore, representing a 420 percent growth.
Here’s a quick rundown of how the six Adani group firms that are publicly traded have done in the last 12 months: A $10,000 investment in the six publicly traded Adani group companies would now be worth $52,000, a 420 percent gain in just 12 months.