Adani now world’s third richest, surpasses Bill Gates
TEN NEWS NETWORK
New Delhi, 30th August, 2022: With a net worth of $137.4 billion, Adani Group chairman Gautam Adani has surpassed Microsoft co-founder Bill Gates and LVMH co-founder Bernard Arnault to become t world’s third richest person and became the first Indian; Asian to do so.
Adani currently ranks third in the Bloomberg Billionaires Index, below Elon Musk and Jeff Bezos. Bernard Arnault is a French business entrepreneur, investor, and art collector who is the world’s fourth richest person. He is the co-founder, chairman, and CEO of the world’s largest luxury goods firm, LVMH Mot Hennessy – Louis Vuitton SE.
With the latest increase in net worth, Adani has become the first Indian and Asian to enter the top three of the aforementioned index. Reliance Chairman Mukesh Ambani and China’s Jack Ma were both unable to accomplish this.
According to the Bloomberg Billionaires Index, Adani only recently surpassed Bill Gates to become the world’s fourth-richest person, with a net worth of $113 billion, overtaking the Microsoft co-founder by $230 million at the time.
Adani’s rating in the index has risen as a result of the significant increase in his riches this year. While the net worth of the top ten billionaires has decreased YTD, Adani’s fortune has increased by $60.9 billion, five times that of anyone else. Meanwhile, Reliance Industries chairman Mukesh Ambani ranks 11th with a worth of $91.9 billion.
The recent spike in Adani Group equities is one of the causes for Adani’s ascension. Despite some lawmakers and market observers raising concerns about Adani Group firms’ opaque ownership arrangements and lack of analyst coverage, the shares have risen. Since 2020, certain Adani group firm shares have risen more than 1,000%, with prices reaching 750 times earnings.
According to Bloomberg, another reason Adani was able to surpass some of the world’s wealthiest US billionaires was because several of them recently increased their donations.
