It’s not just coal that lifted Gautum Adani’s wealth by $52 billion this year, he is adding green energy, airports, data centres, digital services and media.
Adani, who built his empire on agri-trading, coal and ports, has been moving up a wealth ranking traditionally dominated by US tech entrepreneurs. He’s been rapidly diversifying into green energy, airports, data centres, digital services and media, aligning his strategy with Indian Prime Minister Narendra Modi’s nation-building agenda. Firms in his eponymous group have attracted global investors including France’s TotalEnergies and Warburg Pincus, boosting their shares.
The first-generation entrepreneur and college dropout who started off with an agri-trading firm in the late 1980s has amassed almost all of his wealth in the past two years as his push to diversify intensified.
His ascent coincided with a philanthropic boost by some of the world’s richest people. Gates said earlier this month that he’s sending $US20 billion to his foundation, which would more than cover the $US15 billion he and his ex-wife promised in 2021. Last year’s pledge was accounted for in the wealth index when he made the announcement, and $US5 billion more was added to that liability for the new promise, dropping Gates’s net worth to just below Adani’s.
Warren Buffett, who’s fallen to No. 7 on the ranking, has donated more than $35 billion to the charity, including $US3.1 billion in June alone. Adani has also increased his charitable giving. In June, to mark his 60th birthday, he pledged to donate $US7.7 billion to a variety of social causes.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The perks of doing a property deal in Melbourne’s mid-winterThis winter vendors are mindful that more interest rates are on the horizon and their property will face more competition from other sellers in the busier spring market, and are hoping to make the most of selling sooner. | heagney_melissa
Read more »
Tennis's Big Four unite for Laver Cup in 'unique' momentNovak Djokovic will compete for Team Europe at this year's Laver Cup, joining the rest of men's tennis's big four, Rafael Nadal, Roger Federer and Andy Murray on Team Europe.
Read more »
Knife-wielding man tells US congressman 'you're done' before attempting to stab Republican politicianUnited States Congressman Lee Zeldin says he is OK after allegedly being attacked during a campaign speech in upstate New York by a 43-year-old man reportedly wielding a knife.
Read more »
What will happen to the asylum seekers who Australia refused to let in?Australian taxpayers are still funding accommodation, food and expenses for about 100 asylum seekers in Papua New Guinea despite declaring an end to off-shore processing there. But they won't be resettled in Australia:
Read more »
Man charged with murder after missing woman's remains foundA 37-year-old man has been charged with murder after a body, believed to be of missing mum Shereen Kumar, was found dumped in bushland in Sydney's north-west.
Read more »
Pakistani man seeks family of granduncle who ‘accidentally’ came to Australia 120 years agoEven after decades of gathering clues, Islamabad-based lawyer Mumtaz Malik hasn’t given up hope of tracking down a missing branch of his family tree in Australia. Via SBSUrdu Read the full story here: family story life help clues
Read more »