Move over, Mukesh Ambani: here’s how Indian billionaire Gautam Adani, Asia’s new second-richest man, spends his wealth – from luxury cars to private jets

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Gautam Adani, Asia’s second-richest man after a spectacular rise in 2021. Photo: @gautam.adani/Instagram

Gautam Adani has come a long way since his humble beginnings as a dropout from a bachelor’s degree in commerce at Gujarat University, Ahmedabad. Now at the helm of the Adani Group – which is involved in numerous industries including power generation, oil, real estate and infrastructure – Adani has overtaken Chinese bottled water tycoon Zhong Shanshan to become the second-richest man in Asia.

Forbes reports that his wealth grew to US$66.2 billion due to the rapid rise in share prices of companies under the Adani Group. Bloomberg even reported that Adani beat fellow billionaire Elon Musk for the biggest growth in wealth in 2021.

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So how does Asia’s new second-richest man enjoy his billions?

His home is worth around US$5.5 million

© Provided by South China Morning Post Gautam Adani, recently crowned Asia’s second-richest person. Photo: @moneycontrolcom/Twitter

In early 2020, Adani acquired Aditya Estates for a reported 40 crore rupees – around US$5.5 million. The property, which is located in Lutyens’ Delhi, the most expensive residential area in New Delhi, covers 1.4 hectares (3.4 acres) of land and includes a bungalow that is 25,000 square feet in area.

According to GQ India, the home has seven bedrooms, six living and dining rooms, and 7,000 sq ft of land for staff quarters. The estate also includes sprawling gardens, through which Adani likes to spend his time taking leisurely strolls.

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He’s got three private jets and three helicopters

© Provided by South China Morning Post One of Gautam Adani’s three private jets. Photo: @aircraftography/Instagram

Adani has a clear interest in aviation. In 2020, the Adani Group acquired a controlling stake of 74 per cent in Mumbai Airport, becoming India’s largest private airport developer.

This interest in air travel is evident in his personal life as he likes to fly in style, having three private planes: a Bombardier Challenger 600 (worth US$700,000-US$900,000, according to evojets.com), an Embraer Legacy 650 (worth US$15-19 million), and a Hawker 800 (worth US$2 million).

But the billionaire and his family also evade traffic with his three helicopters. In 2011, The Times of India stated that he bought an Augusta Westland AW139 15-seater helicopter worth 12 crore rupees (now US$1.65 million).

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He collects luxury cars

© Provided by South China Morning Post Gautam Adani, recently crowned Asia’s second richest person. Photo: @gautam_adani/Twitter

While he started off commuting on his grey Bajaj Super scooter in the 1980s, Adani quickly learned to travel in style and has amassed an enviable luxury car collection. This includes a BMW 7 Series limousine, a Rolls-Royce Ghost and a red Ferrari California, which people close to him say is his favourite.

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He actively gives to charity and helps out people in need

© Provided by South China Morning Post Gautam Adani, recently crowned Asia’s second-richest person. Photo: @gautam_adani/Twitter

In 1996, Adani co-founded the Adani Foundation with his wife, Priti, who serves as the chairperson of the foundation. Together, they have contributed to the welfare of communities across India with projects in education, health, community infrastructure and sustainable livelihood.

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In 2020, The Economic Times reported that Adani donated 100 crore rupees (now US$13.7 million) to the PM Cares Fund to help battle Covid-19. The Times of India also reported that the Adani Group helped arrange for four ISO cryogenic tanks with 80 tonnes of liquid oxygen and 5,000 medical grade oxygen cylinders from Saudi Arabia to help those afflicted with the virus.

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This article originally appeared on the South China Morning Post (www.scmp.com), the leading news media reporting on China and Asia.

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