Gautam Adani earned Rs 1000 crore per day for a year: A new normal far stretched.

Gautam Adani has become the second richest person in Asia, jumping two ranks higher.

According to the latest IIFL Wealth Hurun India Rich list 2021, Gautam Adani and his family’s wealth soared to Rs 5.05 lakh crore from Rs 1.04 lakh crore in the previous year to be the second richest person in Asia just behind Mukesh Ambani. The chairman of Reliance Industries has topped the list for the 10th year in a row, with an aggregate wealth of Rs 7.18 lakh crore.

But, what has been exceptional, is the growth in wealth for Adani. It has grown by a whopping 261% over last year, nearly quadrupling Adani's wealth. On an average basis, he has earned about Rs 1,002 crore a day for a whole year. That’s massive wealth creation!.

The immediate question arises in everyone’s minds is ‘How’?

Well, the answer lies in the capital appreciation of Adani Group companies. Its companies have flared with flying colours. Almost all of the companies under Adani Group, where Gautam Adani, chairman of Adani Group, holds a substantial controlling stake, have turned to be multibaggers in a year. As of October 12, 2021, the Adani Enterprises has grown by nearly 400%, Adani Total Gas share price has grown by 632%, Adani Transmission by 465%, Adani Green Energy by 71%, Adani Ports by 110%, and Adani Power by about 180%. Such tremendous bullish rallies in all family-owned stocks have led to an enormous rise in the wealth of the designated industrialist, Gautam Adani.

From being a budding entrepreneur from the state of Gujarat, starting with the commodities trading business in 1985, Gautam Adani has expanded his business into renewable energy, aerospace, logistics, agriculture, among other businesses to be the second richest Asian. His association with PM Modi might be a matter of controversy to many, but it is crucial to watch what social, economic and environmental impact this industrialist would make in coming times in India.