World Richest Man

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.

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 total net worth of $137 billion, Indian-born Gautam Adani's extraordinary wealth gain in 2022 has far surpassed that of any other billionaire, many of ...

[600744,](/investing/stock/600744?countryCode=CN&mod=MW_story_quote). [recently pointed out ](https://www.bloomberg.com/news/articles/2022-08-24/adani-green-s-2-021-debt-equity-ratio-is-second-worst-in-asia?sref=acfjrZ8Z)that Adani Green Energy [541450, +4.28%](/investing/stock/541450?countryCode=IN&mod=MW_story_quote)has seen its debt-to-equity ratio surge to 2,021%, the second-highest in Asia behind China’s Datang Huayin Electric Power Co. [TTE, -3.62%](/investing/stock/TTE?countryCode=FR&mod=MW_story_quote)entered a deal earlier this month to acquire a 25% stake in Adani New Industries, to produce and commercialize green hydrogen in the country. Its flagship entity, Adani Enterprises [512599,](/investing/stock/512599?countryCode=IN&mod=MW_story_quote), saw a 73% jump in consolidated net profit for the first quarter ended June, and a 225% surge in consolidated revenue. [TSLA, -3.54%](/investing/stock/TSLA?mod=MW_story_quote)Chief Executive Officer Elon Musk, has seen a loss of $18.9 billion this year to bring his fortune to $251 billion, while Amazon.com’s [AMZN,](/investing/stock/AMZN?mod=MW_story_quote)executive chairman Jeff Bezos and No. That puts his billionaire status above that of the CEO of luxury goods giant LVMH [MC, -0.17%](/investing/stock/MC?countryCode=FR&mod=MW_story_quote)Bernald Arnault, Microsoft [MSFT,](/investing/stock/MSFT?mod=MW_story_quote)co-founder Bill Gates, and Berkshire Hathaway’s CEO -1.22% [BRK.A,](/investing/stock/BRK.A?mod=MW_story_quote)Warren Buffett.

The Bloomberg Wealth Index, which traces the fortunes of the world's wealthiest people on a day-to-day basis, reckons Adani's worth at $137 billion which puts ...

The Bloomberg Wealth Index places Ambani in 11th position, worth $91.9 billion. In March, when Forbes published its annual Rich List for 2022, Adani was reckoned to be worth $90 billion and 11th richest in the world. That means in just five months Adani’s has climbed by an extraordinary $56 billion. Whether he’s in third or fourth position, Adani is continuing a vertiginous ascent that has whisked him well past globally famous billionaires like Microsoft founder Bill Gates and Berkshire Hathaway’s nonagenarian stock market wizard Warren Buffett. Group flagship Adani Enterprises has continued its speedy upward trajectory, climbing by Rs 181.85, or 6.04 per cent, in the last five trading days. But it says that the tycoon is still in fourth position.

India's Gautam Adani is now the third richest man in the world with a net worth of $137 billion, according to the latest Bloomberg Billionaires data.

His group is the largest port operator in the country and is also the largest coal trader in the country. Over the past five years, the tycoon’s flagship company Adani Enterprises has invested heavily in new growth sectors that include airports, cement, copper refining, data centres, green hydrogen, petrochemical refining, roads, and solar cell manufacturing. Musk has a net worth of $251 billion while Bezos is worth $153 billion.

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.