Gautam Adani became richest person in Asia, overtakes Mukesh Ambani

Gautam Adani is now the richest person in Asia. He has surpassed Mukesh Ambani to become the richest person on the continent. Gautam Adani who turned the small commodities trading business into a huge business empire now owns $88.5 billion of net worth. As per the report from Bloomberg Billionaires Index. Gautam Adani, the Indian billionaire who turned a small commodities trading business into a conglomerate spanning ports, mines, and green energy, is now Asia’s richest person. Mukesh Ambani has total assets of $87.9 billion is lagging behind him. Notably, Adani is the world’s biggest wealth-gainer in 2022 with a massive jump of $12 billion in his personal assets.

Adani and controversies

Gautam Adani and Narendra Modi

Gautam Adani and Prime Minister Narendra Modi| Image Source: Internet

He has been in various controversies for his business strategies. His coal and electricity business in Australia has even drawn protest from climate activists Greta Thunberg.  Now his company is moving towards renewable energy sources, airports, data centers, and defense contracting. Adani is said to be close to Indian Prime Minister Narendra Modi. Gautam Adani is also a survivor of crises. Around 20 years ago, he was kidnapped for ransom. In the 2008 Mumbai attacks, he was among the hostages at Mumbai’s Taj Mahal Palace hotel during the terror attacks that killed at least 166 people.

Adani’s sustainability claims have also been criticized by various climate activists. His Carmichael Coal Mining project in Australia is focussing on the highly polluting fossil fuel instead of green-energy campaigns. The Adani group was forced to its own money on the Australian project after heavy criticism blocked the door to get financed.

Gautam Adani has also come under attack from Modi’s political opponents for his proximity to the powerful leader, with some even calling it cronyism. Adani has dismissed such criticism as baseless and thrived with his successful strategy of dovetailing his investments with Modi’s priorities.

Share This:

Leave a Comment