Richest person in the world

Few outside of India had heard of Gautam Adani just a few years ago. Now the Indian businessman, a college dropout who first tried his luck as a diamond ...

With a $137.4 billion fortune, Adani has overtaken France’s Bernard Arnault and now trails just Elon Musk and Jeff Bezos of the US in the ranking. Now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the world’s third-richest person. It’s the first time an Asian person has broken into the top three of the

Billionaire becomes first Asian person to break into the top three of world's wealthy.

Many of his businesses are involved in natural gas, coal mining and electricity generation, and are likely to have benefited from the global energy price surge. Adani took the third spot after leapfrogging Bernard Arnault, the French billionaire who owns most of the luxury brand portfolio LVMH. Adani’s company bought all six and became the country’s biggest airport operator.

Harish Damodaran writes: The Adani case is interesting, both for the sheer breadth of industries it operates in and how fast this group — unlike the ...

Here, it was a fourth driver — “animal spirits” — that spurred the likes of Dalmia (even the Birlas, Singhanias and Bangurs) to invest in multiple unconnected industries. The ultimate restraining force is, perhaps, the share prices of group companies. The second is leverage or the ability to mobilise external capital, both debt and equity, on the strength of not just a firm’s balance sheet, but also the promoter’s reputation. [the world’s third richest man](https://indianexpress.com/article/business/adani-becomes-worlds-third-richest-person-after-wealth-surges-8119911/), Gautam Adani’s rise is more spectacular than even that of Dhirubhai Ambani. A third driver is the political connections enjoyed by certain groups. The bulk of Indian corporate houses are, however, focused and big in not more than 3-4 industries. The latter began with ‘Vimal’ in the late 1960s and, by 1990, had turned Reliance into India’s third biggest house after Tata and Birla. This was followed by forays into banking (Bharat Bank), coal mining, vanaspati and biscuit-making, and purchases of the Dehri-Rohtas Light Railway, three Andrew Yule jute mills and the motor vehicles firm Allen Berry from their British managing agencies. Even the much-diversified Aditya Birla Group has exited fertilisers, petroleum refining and palm oil, and almost done so in telecom. From setting up the Mundra Port at Gujarat that commenced operations in October 1998, to becoming The culmination was building its own refinery (the world’s largest) and moving further “upstream” into oil and gas production-cum-exploration. But the extent of its horizontal diversification isn’t comparable to Adani’s.

Gautam Adani, the chairman and founder of the Adani Group- is the first Asian to become the world's third-richest person. Read on to know more.

Adani has overtaken France's Bernard Arnault and is now just behind Elon Musk ($251 billion) and Jeff Bezos ( $153 billion) in the ranking. Over the years, the business mogul has also ventured into data centres to cement, media, and alumina. The billionaire recently was 4th richest man in the world and has now excelled in his position again!

Chairperson of Adani Group Gautam Adani has become the third richest person in the world, as per the latest Bloomberg Billionaires data.

- 03:45 - 09:59 - 00:40

On Bloomberg Billionaires Index List 2022, the net worth of Elon Musk and Jeff Bezos are currently at USD 251 billion and USD 153 billion, respectively.

On Bloomberg Billionaires Index List 2022, the net worth of Elon Musk and Jeff Bezos are currently at USD 251 billion and USD 153 billion, respectively. The Adani Group is the third largest conglomerate (after Reliance Industries and the Tata Group) in India. Business conglomerate Adani Group's chairman Gautam Adani is now the world's third-richest person after overtaking France's Bernard Arnault according to Bloomberg Billionaires Index.

With a net worth of $137.4bn (£117.3bn), the 60-year-old chairman of business conglomerate Adani Group surpassed the riches of Louis Vuitton chairman Bernard ...

Reports about the acquisition prompted criticism last week that Indian prime minister Narendra Modi, who is seen as being a close friend of Mr Adani, was further trying to stifle independent media. [Terms of use,](https://www.independent.co.uk/service/user-policies-a6184151.html) [Cookie policy](https://www.independent.co.uk/service/cookie-policy-a6184186.html) and [Privacy notice.](https://www.independent.co.uk/service/privacy-policy-a6184181.html) The Adani Group has seven publicly listed entities with businesses spread across energy, mining, ports, airports and defence. [Privacy policy](https://policies.google.com/privacy?hl=en) and [Terms of service](https://policies.google.com/terms?hl=en) apply. [NDTV](https://www.independent.co.uk/topic/ndtv) has operated in India for decades and is said to be part of a shrinking news space critical of the current government in New Delhi. Registration is a free and easy way to support our truly independent journalism [Adani group sent shockwaves across India](https://www.independent.co.uk/asia/india/adani-ndtv-share-price-stake-b2151389.html) after its media arm AMG Media Networks (AMNL) acquired a holding company that owns 29.18 per cent of news organisation New Delhi Television (NDTV). [Mr Adani took over Mr Ambani as the richest Asian in February](https://www.independent.co.uk/asia/india/gautam-adani-ambani-asias-richest-b2010007.html) this year, before becoming a centi billionaire in April. [Bernard Arnault](/topic/bernard-arnault) to climb the ranks of wealth accumulation, according to the [Bloomberg](/topic/bloomberg) Billionaires Index. [Elon Musk](/topic/elon-musk), with his $251.4bn net worth, remains the world’s richest person, followed by Amazon’s Jeff Bezos, who has a new worth of $153bn. With a net worth of $137.4bn (£117.3bn), the 60-year-old chairman of business conglomerate Adani Group surpassed the riches of Louis Vuitton chairman [Gautam Adani](/topic/gautam-adani) is now the third richest person in the world, a first for a businessman from Asia.

Gautam Adani sits behind only Amazon founder Jeff Bezos ($153 billion) and Tesla CEO Elon Musk ($251 billion) on the rich list.

The 60-year-old passed Bill Gates on the rich list in July after Gates announced he would be giving $20 billion to the Bill & Melinda Gates Foundation. Additionally, a boost to the stock prices of companies like Arnault’s LVMH or Gates’ Microsoft could see Adani fall back out of the top three. He is the founder of the Adani Group, which has a massive portfolio of companies in various industries, including ports, coal and energy. He sits behind only Amazon founder Jeff Bezos (worth $153 billion) and Tesla CEO Elon Musk (worth $251 billion) on the rich list. The milestone comes just six months after he was named the richest person in Asia. Indian billionaire Gautam Adani leapfrogged luxury goods magnate Bernard Arnault on Tuesday.