I'd never heard of Adani group until last week. Skyrocketed from nowhere through pandemic and Gautam Adani is now #2 richest person in the world??? 👀
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Seems like a fragile temp thing, since it's a commodities and infrastructure empire that seems to be bullish based on being close to Modi admin political agenda. Kinda like Dhirubai Ambani during Indira admin.
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Feels like the age of post-tech wealth is here though. Commodities, renewables... all the messy, gritty shit that will be increasingly important as the world gets hotter and more violent.
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Indian-style conglomerates are in this no-man's land between being willing to do the low-margin but crucial large-scale manufacturing work that their Japanese, Koreans, Chinese, and now Vietnamese counterparts have done, and being able to do high-value R&D like the west.
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Ambani has a Reliable and long lasting Cash cow that is their Petrochemical business. Tata have a very long legacy but it's more Bureaucratic power than actual ownership which is very little. Ratan Tata is worth just 1 billion. Rest are surviving because of their legacy
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