December 9, 2022

This story is a part of Forbes’ protection of India’s Richest 2021. See the total record right here.

Gautam Adani, chairman of Adani Group, noticed his internet price almost triple to $74.8 billion since final yr’s record. Shares of his six listed corporations climbed between 73% and 630% over the previous yr—outperforming India’s benchmark index’s 52% acquire—amid the group’s bold strikes. Already India’s largest non-public port operator, the Ahmedabad-based group took management of Mumbai airport, the nation’s second-largest, after upping its possession to 74% earlier this yr. This acquisition adopted Adani’s successful bids in 2019 to develop and function six airports throughout India for the subsequent 50 years.

Adani can also be in search of to record Adani Wilmar, a three way partnership with Singaporean agribusiness billionaire Kuok Khoon Hong’s Wilmar Worldwide. However the IPO has but to be accredited by India’s market regulator. Following Mukesh Ambani’s $10 billion guess on renewable vitality tasks, Adani lately disclosed plans to speculate $20 billion over the subsequent decade in inexperienced vitality.

A primary-generation entrepreneur from the western Indian state of Gujarat, Adani began a commodities buying and selling enterprise within the Nineteen Eighties, increasing to vitality, ports, airports, transportation, protection, property and finance over the subsequent 4 many years. The Adani Group was not proof against the pandemic—consolidated income of the group’s listed corporations was $13.5 billion within the fiscal yr to March, down 3% from a yr earlier.

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