How Gautam Adani has become so rich in this Pandemic

Pandemics are the worst case scenario in the world and they bring challenges to human existence. The recent Coronavirus pandemic has shown a dark side to us when the lockdown was imposed. We seem to lose so many things, including our general life life.

There are people who have lost their jobs and income sources due to lockdown. They are now struggling to keep their stomach full with a piece of bread. Although people are struggling in this pandemic situation, there are some numbers who have gained more than they used to have before.

The second richest person of India. Gautam Shantilal Adani is reported to have added more billions of dollars to his wealth. Gautam Adani is the founder and chairman of the Adani Group who is the second richest person in India after Mukesh Ambani.

According to the Bloomberg Billionaires Index, Adani has an increment of $16.2 billion in his net worth which has become $50 billion now in 2021. He is now ranked second in India in terms of wealth whereas 26 is ranked in the world. Adani founded the Adani Group in 1988. He has many records of achievements on his list.

Gautam Adani Success Story

 Coming to some early events of Adani,He is a dropout from third year of bachelor of commerce degree from Gujarat University at Ahmedabad. He worked for Mahindra brothers as a diamond sorter after coming to Mumbai in 1978.

He worked there for 2-3 years and then went on to establish his own empire. He established his own diamond brokerage firm at Zaveri Bazar, Mumbai. Gautam Adani founded Adani Exports Ltd in 1988 which is now known as Adani Enterprises Ltd.

The managerial outsourcing of the Mundra Port, which was announced by the Government of Gujarat in 1994 was given to Adani as a contract. Adani founded Adani Power Ltd in 1996 which is a power business arm of the Adani group.

Adani power is the largest private thermal power producer in the country with a capacity of 4620 MW. Adani won the world’s largest solar bid by the solar energy Corporation of India worth $6 billion in May 2020.

According to a report by Forbes, his family’s net worth was estimated to be around $50 billion in March 2021. He was also ranked as the third most powerful person in India by India Today. Gautam Adani has not only added billions of dollars to his net worth during the pandemic but has also given 100 crore rupees to the PM Cares fund to fight the deadly Coronavirus. He also contributed 5 crore rupees to the Gujarat CM relief fund and 1 crore to the Maharashtra CM relief fund.

Adani group is rapidly expanding its existence in diversified sectors like airports business and data centres and this is the reason that he has shown increment to his wealth up to $16 billion in the pandemic condition. Most recently, reports suggest, Adani ports and special economic zone Ltd announced that Windy Lakeside Investment Ltd, a unit of Warburg Pincus, will invest 800 crore rupees for a 0.49% stake in the company.

Adani Group also has its share in various stock markets which show immense growth value in the past one year when the pandemic was at its peak. This growth has given a bonus to the Chairman’s wealth. Although Jeff Bezos and Elon Musk are the world’s richest person [following reciprocal in terms of wealth] yet they have less statistics of growing billions of dollars specifically in pandemic conditions.

However, these two people have shown growth of billions of dollars throughout the year, yet if we talk about a specific pandemic time, Adani’s ranking is above in terms of adding more billions of dollars to his net worth.

Jeff Bezos is the richest person in the world having $183 billion net worth whereas Elon Musk is $3 billion lesser than him as per reports had gone before this January 31. Although Jeff Bezos is the richest person in the world, making billions of dollars each and every aspect of his life yet compared to Adani’s statistics of adding billions of dollars to the net worth in the pandemic condition is interesting.

The statistics show the growth of $16.2 billion to the net worth of Adani in the past pandemic condition according to the report of Bloomberg Billionaires Index.

This growth is much more than the billion dollars to India’s richest person Mukesh Ambani’s net worth (comparison is only for the growth of billions of dollars in the lockdown specifically). Although Mukesh Ambani has around $84 billion net worth, he has less bonus to his net worth in comparison to Adani.

Adani is now on $50 billion including $16 million in pandemic conditions and he is ranking on the second richest person in India. The best part about Adani is that although he has added growth to his net worth, he has yet to contribute to the funds which are being raised to fight against coronavirus.

Coming to be the second richest person in the world, he is still below in statistics for this latest pandemic situation (again, the comparison is only for the growth of billions of dollars in lockdown specifically).

Here is a bonus point according to some of the official websites as they update the world’s richest person day by day according to the increasing dollars in the net worth. Hence there is always competition between Jeff Bezos and Elon Musk in being the first and highest in wealth. The graph of being the richest person in the world is not certain as some day Jeff Bezos, CEO of Amazon, is considered as the richest person in the world whereas in some other day, Elon musk, CEO of Tesla ranked above.

Elon Musk who is officially the second richest person is having a net worth of $183 billion as per the reports. However statistics show the graph from $151 to $197 billion till March 2021. Adani has the growth of $16 billion estimated as an increment to his net worth (again, comparison is only for the growth of billion dollars in the lockdown specifically).

Due to these statistics, Adani Group’s chairman is ranking the second richest person in India after Mukesh Ambani.

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