Mumbai, 16th September 2022: Gautam Adani has become the second richest person in the world. Gautam Adani has overtaken Bernard Arnault to achieve this position in the Forbes Real Time Billionaire Index. However, he is still in third place on the Bloomberg Billionaire Index.
According to the Forbes Real Time Billionaires Index, as of this afternoon, Adani’s wealth had increased by $ 5.5 billion. He is now the world’s second billionaire with $155.7 billion. The first position is occupied by Elon Musk, with a net worth of $ 273.5 billion. After Adani, Bernard Arnault is at number three with a net worth of $ 155.2 billion.
According to a March 2022 stock exchange filing, Adani holds a 75% stake in Adani Enterprises, Adani Power and Adani Transmission. He owns about 37% of Adani Total Gas, 65% of Adani Ports and Special Economic Zones and 61% of Adani Green Energy. All these companies are publicly traded and based in Ahmedabad.
According to Bloomberg, Adani is the largest port operator, thermal coal producer and coal trader in India.
Gautam Adani was born in Gujarat. He moved to Mumbai as a teenager after leaving college and worked in the diamond business before returning to his home state.
He started his global business with the import of Polyvinyl Chloride (PVC) for his brother’s plastics business. In 1988, he established Adani Enterprises, the group’s flagship company for the import and export of goods.
Adani Enterprises took approval from the Gujarat government in 1994 to set up a port facility at Mundra Port to handle its cargo. Seeing the potential in the project, Adani decided to convert it into a commercial port. He built rail and road connectivity by personally negotiating with over 500 landlords across India to build the largest port in India.