Covid pandemic has devastated the economy of the entire world. During the peak of the pandemic, all the major economies came to a grinding halt and severe lockdowns were imposed. It was believed that the crises will result in the rich getting richer and the poor getting poorer. In reality, the Richie Rich of the world too has faced the brunt of this once-in-a-century pandemic. The SBI Ecowrap report has categorically stated that Income inequality has been on a continuous decline in India since the Financial Year 2017.
Wealth of top 10 richest person eroded except one Indian
According to Bloomberg Billionaires Index, within the first six months of 2022, the top 500 richest individuals of the world have lost a combined fortune of 1.4 trillion US Dollars (110 Lakh crore dollar), except one Indian Industrialist. If you are thinking of Mukesh Ambani, then sorry my friends, you are wrong. Gautam Adani is the only one in the top 10 richest persons of the world whose wealth has been on continuous rise during and after the Covid crisis.
| Name | Gain/loss in last 6 months | Net Wealth |
| Elon Musk | Lost Rs 4.73 Lakh crore | Rs 16.58 lakh crore |
| Jeff Bezos | Lost Rs 4.68 lakh crore | Rs 10.50 lakh crore |
| Bernard Arnault | Lost Rs 3.98 lakh crore | Rs 10.11 lakh crore |
| Bill Gates | Lost Rs 1.81 lakh crore | Rs 9.08 Lakh crore |
| Larry Page | Lost Rs 2.31 lakh crore | Rs 7.84 Lakh crore |
| Gautam Adani | Gain Rs 1.76 lakh crore | Rs 7.80 Lakh crore |
| Warren Buffett | Lost Rs 98.69 thousand crore | Rs 7.61 Lakh crore |
| Sergey Brin | Lost Rs 2.24 Lakh crore | Rs 7.53 Lakh crore |
| Steve Ballmer | Lost Rs 1.08 Lakh crore | Rs 7.26 Lakh crore |
| Larry Ellison | Lost Rs 1.57 Lakh crore | Rs 6.88 Lakh crore |
The wealth of the Chinese giant, Changpeng Zhao has eroded the most. He is the founder and CEO of Binance, the world’s largest crypto currency exchange. According to the Bloomberg report, the net wealth of Zhao has reduced by a whopping Rs 6.26 Lakh crores. In India, Former Reliance Chairman Mukesh Ambani saw a dip of Rs 28.89 thousand crore in the same period taking his net wealth to Rs 5.08 Lakh crores.
Read More: Gautam Adani will soon leave Mukesh Ambani miles behind
What encompasses Adani group?
Adani group has seven listed companies with a total net worth of 153 billion dollars. It has invested in diverse fields, which are or will be the game changers for the economy and reap multifold benefits. Adani Enterprises is India’s largest coal trader, largest coal mining contractor as well as largest private airport operator. Adani Green Energy is one of the largest solar power developers in the world. It is focused on the green energy demands – Wind and Solar, of India.
Adani Ports and Special Economic Zones is the largest private port operator in India. Adani Power is the largest private sector power generation company in India. Adani Transmission is the largest private sector transmission and distribution company in India. Adani Total Gas is the largest city gas operator in the country. Adani Wilmar is the largest edible oil brand in the country.
The Adani Infrastructure Empire is also present in solar manufacturing, logistics, industrial land, defence and aerospace, fruits, data centres, road and rail, real estate and lending.
So why is Gautam Adani an exception?
Gautam Adani has been a pragmatic investor, who has been crystal gazing at the future correctly. Knowing that green Hydrogen can be the future of energy, his group has invested heavily in its research. It won’t be a surprise if his risk pays off and he becomes the giant in that field as well.
Read More: Brace yourselves for the world’s largest green hydrogen ecosystem, brought to you by Adani
Further, he has broken the earlier psychology of thinking in silos and expertising in one arm of production or distribution. His new acquisitions reflect his successful strategy of ‘Self-seller, self consumer’. For example, the acquisition of cement giant ACC complemented the Adani Infrastructure and broke the shackles of thinking in silos.
Read More: Business 101: Adani’s self-seller self-consumer model is simply phenomenal
It is not that the success of Gautam Adani has come at the cost of others. The saying that if rich becomes richer than poor will become poorer has changed during the Covid time. Many reports have suggested that the government’s welfare schemes helped the poor and the deprived community, and saved them from going below the poverty line. The credit for the surge in his wealth goes to his pragmatic, holistic business strategy coupled with a healthy appetite for risk, and ability to bet on future technology.
Additionally, Gautam Adani played a very important role in saving many lives at the peak time of the second wave of Covid-19. Along with other Industrialists, he brought the needy oxygen tanks at that time. So, for any budding Industrialists, Gautam Adani has scripted new strategies of business and has proven that first generation entrepreneurs can be the richest, bypassing the successful industrialists of India who had already inherited fortunes from their forefathers.
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