The Indian tycoon, whose empire includes ports, mines, and green energy, is the latest whose fortune reached the $100 billion mark. Up almost $24 billion this year, he’s the world’s biggest gainer and joins nine other members of the elite group.
Fellow countryman Mukesh Ambani, whose net worth first topped that benchmark in October. It has now dropped slightly below it to $99 billion, according to the Bloomberg Billionaires Index.
It may be noted that eight out of the top 10 on the index are individuals from the United States barring two. Frenchman Bernard Arnault features third and India’s Mukesh Ambani takes up the tenth spot with a net worth of $98.2 billion.
However, according to Forbes’ Real-Time Billionaires List, the net worth of India’s richest two people Mukesh Ambani and Gautam Adani has crossed the $100 billion mark. The difference between their wealth has reduced to only $300 million, as per the Forbes list. The net worth of Adani stands at $101.8 billion as of April 1, whereas Ambani’s net worth is at $100.5 billion.
As per the Bloomberg index, the world’s richest person, Elon Musk, who has a net worth of $271 billion, made $1.14 billion. Jeff Bezos, who trails Musk on the list, lost $4.30 billion this year so far. Bill Gates, the co-founder of Microsoft lost $4.48 billion.
Mr. Adani, the second-richest man in Asia, saw his net worth growing faster than successful investor Warren Buffet. Whose net worth grew by $18.7 billion in the last quarter of FY22, which is $2.4 billion less than Adani’s.
Adani’s wealth has risen despite tensions brewing in Europe and prospects of high inflation, reducing investors’ risk appetite. Backed by his relentless rise, the Gujarat-born industrialist is now placed 11th in the index with a net worth of $97.6 billion. His net worth has surged by about 27.50 per cent in 2022.
About Adani
Adani founded the Adani Group, India’s largest port operator. Ahmedabad, the India-based infrastructure group also happens to produce and trade thermal coal, making it one of the largest coal traders and producers in the country.
A company listed on the stock exchange, Adani Enterprises, reported revenue of $5.3 billion in the year to March 31, 2021.
After dropping out of college as a teenager, Andani moved to Mumbai, where he worked in the diamond trade before returning to Gujarat.
As a boy, he worked for his brother’s plastics company, importing polyvinyl chloride. As a commodity importer and exporter, Adani Enterprises was the group’s flagship company when it was established in 1988.
Bandits held Andani hostage in 1997, according to the Mundra Port website. In addition, the website reveals that Adani was held hostage at the Taj hotel 11 years after the terrorist attack on Mumbai.
Adani’s ascent has been nothing short of spectacular. The college dropout who first made a fortune in the coal industry has amassed almost all of his wealth in the past two years, thanks to a shift to green energy and infrastructure that landed him investments from companies including France’s Total SE and Warburg Pincus.
He’s also exploring potential partnerships in Saudi Arabia, including the possibility of buying a stake in the world’s largest oil exporter, people with knowledge of the matter said.
