Gautam Adani, the third richest person in the world and the richest person in Asia, is thinking about opening a family office abroad to handle his soaring wealth, according to a story published on Thursday by Bloomberg, which cited people familiar with the conversations.
Details about The family office of Gautam Adani might open in Dubai or New York
According to a Bloomberg article, the head of the ports-to-power Adani Group conglomerate is considering Dubai or New York as the location for the office that would manage the Adani family’s private money.
The decision was made in the midst of Adani’s personal wealth increasing by $59 billion this year, per the Bloomberg Billionaire Index.
If Adani follows through on this plan, he will join a group of extremely wealthy people who have family offices, such as hedge fund billionaire Ray Dalio and Google co-founder Sergey Brin, whose combined net worth was estimated by the Bloomberg Billionaire index to be $136 billion on November 11, 2022. Mukesh Ambani, the chairman of RIL, is reportedly setting up a family office in Singapore, according to a Bloomberg article from last month.
Vinod Adani, Adani’s older brother, resides in Dubai.
Shares of Adani Power have increased 261% so far this year. Adani Enterprises (up 135%), Adani Total Gas (122%), Adani Transmission (up 90%), Adani Green Energy (up 65%), and Adani Ports and Special Economic Zone (up 135%) came in second and third, respectively (up 22 percent). Adani Wilmar, which debuted on the exchanges in February 2022, has similarly risen 193 percent so far compared to its Rs 230 issue price.
