In February, Gautam Adani passed his fellow Indian citizen Mukesh Ambani to take the title of the richest man in Asia. Due to a $49 billion increase in personal wealth this year, he has surpassed both Warren Buffett and Bill Gates in terms of wealth. Adani is growing his infrastructure company with a net worth of $125.5 billion right now, overtaking Jeff Bezos in the process.
A brief about Indian Billionaire Gautam Adani Becomes the Busiest Dealmaker Globally
This year, he has been Asia’s busiest dealmaker, buying assets including the $10 billion India operations of Swiss cement giant Holcim Ltd. Seen as close to Prime Minister Narendra Modi, he made a hostile bid for NDTV, one of India’s few media outlets ready to challenge the government. This organization has raised new worries about journalistic liberties in the country. In papers, Adani Enterprises Ltd. stated that it wanted to boost NDTV’s operations and “empower Indian citizens.”
Adani, a first-generation entrepreneur who dropped out of college, began as a diamond merchant in Mumbai before building his wealth in ports and mining, with his controversial involvement in Australia’s Carmichael coal mine making him a target of environmentalists. Because so much is at stake, Adani’s latest shift, a commitment to invest $70 billion in green energy, is being scrutinized just as he tries to establish himself more solidly on the world scene.
His large wagers on cement and renewable energy, as well as airports and an expanded mining sector, have all been financed with massive amounts of debt. In a September assessment, the rating organization Fitch Group Inc. noted Adani’s “elevated” leverage.