Elon Musk, Jeff Bezos and Bill Gates have a new kid on the super-rich bloc who threatens to strip them of their status as the richest people on the planet. Without making much noise Indian infrastructure tycoon Gautam Adani has risen to number 5 on Forbes magazine’s list of billionaires and number 7 in the Bloomberg ranking. His fortune is currently estimated at between $95.7 billion and $100 billion, a range clearly surpassed only by the founders of Tesla, Amazon and Microsoft, as well as Bernard Arnault, the owner of LVMH Moët Hennessy-Louis Vuitton.
Whether Gautam Adani is the fifth or seventh richest person in the world only depends on one thing: how much Alphabet (Google) shares rise. For Forbes, the Indian tycoon is ranked number 5, but for Bloomberg he is number 7 because he places him above Larry Page and Sergey Brin, the founders of Google, with a fortune of 102,000 and 97,600 million dollars, respectively. . So far in 2022, Alphabet’s shares have fallen 22%, while Adani’s fortune has continued the meteoric upward trajectory that began in 2020, the year that the inhabitants of the planet locked themselves in our houses for the COVID-19.
Two years ago, his net worth was $8.9 billion.a figure that placed him among the extremely rich people on the planet but that left him outside the exclusive top 100 of the richest. Today his fortune is more than ten times higher than that figure and could reach 107,000 million dollars. And, if it continues at this rate of growth, it is likely to surpass Elon Musk’s $225.3 billion, Bernard Arnault’s $151.1 billion, Bezos’s $133.1 billion and Gates’s $123 billion.
How Gautam Adani has made his fortune
The growth of his assets in such a short time has been spectacular. And the key has been that some of the companies he has invested in have skyrocketed since June 2020, when a period of stock market boom began, after the running of the bulls in March 2020, which has lasted until this year. 60 years old, is an investor in industrial companies and infrastructure assets through its holding company Adani Group. Adani dips into all the sauces: he has renewable energy companies, thermal power plants, manages ports and airports in India, data centers, real estate, hydrocarbon exploration and even food processing.
Adani Group, founded in 1988, has more than 23,000 employees and generates annual revenues of more than $20 billion with operations in 50 countries. The holding company is like a kind of octopus that has investments in some key facilities in India such as its 74% stake in Mumbai International Airport, the country’s second busiest airport. In 2018, the Indian government approved the privatization of six airports and all six went to Adani. His port activity also stands out since his group controls the largest port in India, Mundra, in his home state of Gujarat.
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Who is Gautam Adani, the Indian billionaire who is supposed to be the second billionaire in history after Elon Musk (and before Jeff Bezos)