Their wealth and personal worth may have more zeroes than most of us can comprehend, but we love to know all about the rich, richer and richest. We have watched the rise and fall of Elon Musk and Jeff Bezos with some interest. However the guy who’s having a really, really good year is India’s Gautam Adani. In 2021, he has grown richer faster than both Musk and Bezos.
Gautam Adani has seen his wealth grow faster this year than most others; even Elon Musk and Jeff Bezos.
This has to do with positive investor sentiment; most of the Adani Group stocks have rallied by about 50% this year.
Perhaps there are some tips in there for investors as well.
Many have welcomed the news. The rich getting richer is meant to have a positive impact on the poor by generating employment opportunity and spurring spending believe many.
Others believe that so-called trickledown economics is hogwash; just a way to explain great wealth in a poor nation.
The tweeple had some fun imagining the disappointment of the two other really rich guys.
Much of Adani’s business is centred around reselling agricultural produce and mining. For several years now, the company’s activities in Australia have continued to attract widespread protests.
India is a crushingly unequal society. While we are home to some who are almost obscenely rich, a huge percentage of our population lives in dire poverty.
It seems to be a global phenomenon that while most struggled with unemployment or income contraction during the pandemic, many of the rich have managed to get richer.
The current government’s push for privitisation and disinvestment in PSUs is seen as being favourable for a few rich individuals but not necessarily for the poor.
There is also the charge that a few Indian businesspeople have been favoured by overlooking environmental issues, clearing tribal lands for mining and so on.
The tanking of GDP, high inflation and record-level unemployment are seen as the ineptitude of the current dispensation and their refusal to consult with experts before making decisions.
Given all Adani’s history of closeness to the powers that be, people are not surprised at the circumstances of his meteoric rise.
Few are surprised that Gautam Adani is getting rich even faster than Jeff Bezos and Elon Musk.
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