Year End Specials: Super rich get richer in 2017
2017 was a bumper year for Indian billionaires, with Gautam Adani, Mukesh Ambani, and Sunil Mittal seeing a sharp increase in their wealth despite a slowing economy.The wealth, or net worth, of Adani, chairman of the Adani Group, grew nearly 120 per cent during this period, the steepest among the billionaires. His group picked up assets in the power transmission sector in India in 2017, but struggled with funding options for its mega coal mine development project in Australia.The data is based on Bloomberg Billionaires Index and takes into account the closing share prices of December 28. The share prices of the Adani Group companies have risen strongly, with Adani Transmission rising 294 per cent, Adani Enterprises 117 per cent, and Adani Ports 51 per cent. Adani Power, which is currently in talks to sell its majority stake in loss-making Mundra power project to the Gujarat government, also jumped 36 per cent in 2017. Adani's net worth stood at $10.2 billion. In terms of absolute ...