India's Richest

A FORTUNE INDIA-WATERFIELD ADVISORS STUDY OF DOLLAR BILLIONAIRES IN THE COUNTRY

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ADANI'S GREEN POWER

The world's third-richest person is planning to invest $70 billion in green businesses, the largest such commitment in the world by any corporate.

By P.B.Jayakumar

GAUTAM ADANI

Wealth: ₹10.30 lakh crore

THE YEAR 2020 was a turning point for Gautam Adani, chairman of the ₹2.3 lakh crore Adani Group, as market capitalisation of his listed companies started skyrocketing. That may look like a coincidence but Adani and his close circle consider 20 as his lucky number—20 is the sum of his birth date; registration numbers of his cars add up to 20; even the postal code of Shantigram in Ahmedabad where he lives and works adds up to 20.

Luck or no luck, in August-end, he overtook French business magnate Bernard Arnault to become the third-richest person in the world. Adani’s wealth from listed companies is estimated at ₹10,29,984 crore or $129.16 billion as on August 16 (based on December 2021 shareholding), according to Fortune India Research data. This excludes listed cement makers ACC and Ambuja Cement that the group acquired from Holcim in May in a $10.5 billion (₹81,000 crore) deal. Assuming promoter holdings of 63.2% and 54.53%,respectively, his wealth will swell to ₹11,02,870 or $138.30 billion. The wealth was $4.9 billion (₹32,000-34,000 crore) in March 2020.