Billionaire Gautam Adani briefly surpassed French business magnate Bernard Arnault to become the world’s second richest person on Friday. According to the Forbes Real-Time Billionaires List, the net worth of Adani and his family has risen to $155.4 billion, surpassing LVMH Moët Hennessy – Louis Vuitton SE, Co-Founder, Chairman, CEO Arnault. Adani is now behind Tesla chief Elon Musk, who has a net worth of $273.5 billion. The Forbes list now has two Indians in the top 10, with Mukesh Ambani at the 8th position with a net worth of $92.2 billion. Amazon founder Jeff Bezos is at number three with a net worth of $149.7 billion, followed by Microsoft founder Bill Gates ($105.3 billion), Larry Ellison ($98.3 billion) and Wall Street investor Warren Buffett ($96.5 billion).
Last month, Adani became the third richest person in the world, surpassing Gates. The jump in Adani’s ranking in Forbes is the result of a huge jump in his fortunes this year due to the rise in the shares of the Adani Group. Barring Adani and Musk, all other billionaires in the top 10 saw their net worth drop on Friday. Adani’s net worth rose by nearly $5 billion today, while Analault’s net worth declined by 1.97% to $3.1 billion. The major reason for Adani’s climb to the top is the surge in Adani Group shares in recent times. Adani Enterprises, Adani Port and Adani Transmission were some of the Adani Group stocks that hit their record highs on the BSE in early deals on Friday, boosting the group chairman’s real-time net worth.
Despite some lawmakers and market watchers expressing concern over opaque shareholder structures and the lack of analyst coverage across the group companies, shares of the Adani Group have risen. Shares of some Adani Group company have gained more than 1,000% since 2020. According to a Bloomberg report, another reason why Adani has been able to outpace some of the world’s richest American billionaires this year is partly because some of America’s richest people have boosted recently. His charity. In July, Bill Gates said he was transferring $20 billion to the Bill & Melinda Gates Foundation, while Warren Buffett has already donated more than $35 billion to charity.
According to the Bloomberg Billionaires Index, Adani has added $72 billion to his fortune so far this year, with only one other than Mukesh Ambani among the 10 richest people in the world to have seen his net worth increase this year. Adani, 60, is the founder of the Adani Group, India’s largest port operator. According to a March 2022 stock exchange filing, the billionaire holds 75% stake in Adani Enterprises, Adani Power and Adani Transmission. It owns about 37% of Adani Total Gas, 65% of Adani Ports and Special Economic Zones, and 61% of Adani Green Energy.