Bloomberg announced that Gautam Adani has become the third richest man in the world with a personal fortune of $143,08 million dollars, behind only Elon Musk, with $247,08 million and Jeff Bezos with $152,000 millions.
Few had heard of Gautam Adani, but now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the third person richest in the world.
This is the first Asian person to enter the top three sites of the Bloomberg Billionaires Index. With a fortune of $100, million dollars, Adani has left Frenchman Bernard Arnault behind ($137,000 million) and Bill Gates himself, holder of $137,000 millions.
Adani is a businessman from 60 years and lately he has been expanding his conglomerate from coal to ports, betting on everything from data centers to cement, media and alumina. His business group owns India’s largest private sector airport and port operator, urban gas distributor and coal miner.
He also owns the Carmichael mine in Australia, a target of environmentalists and a reason for which he promised to invest $25, million in green energy to become the largest producer of renewable energy in the world.
His empire has expanded to become one of the largest in the world, with huge profits that have fueled rapid growth. Adani’s deals have been predominantly debt-funded and his empire is “deeply over-leveraged,” according to CreditSights.
There is no shortage of legislators and market observers expressing concern about the opaque shareholder structures and lack of analyst coverage in Adani Group companies. All in all, Andani’s shares have skyrocketed, some of them more than 1,000% since 2020, with valuations exceeding 700 times earnings. Shares of Adani Enterprises Ltd., the group’s flagship, rose 1.7% on Tuesday to close at an all-time high.
Adani has added $08,900 millions to your fortune only in 2022, 5 times more than any other person. He first overtook Ambani as the richest Asian in February, became a hundred billionaire in April, and overtook Microsoft Corp.’s Bill Gates as the world’s fourth-richest person last month.
Millionaire Adani is also known for his charitable donations. In June he pledged to donate $7,700 million to social causes to commemorate his 60 anniversary.
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