As per Forbes’ Real-Time Billionaires list, India’s Gautam Adani passed Microsoft co-founder Bill Gates to become the fourth wealthiest person in the world. Gates is worth $104.6 billion, whereas Adani is worth $115.7 billion.
Adani Beats Gates
According to data from Forbes, Gautam Adani made $337 million in the previous day. Elon Musk, the founder of Tesla and SpaceX, is ranked first on the list with an estimated worth of $235.8 billion.
With a net worth of $156.7 billion, Bernard Arnault, the founder, and chairman of Louis Vuitton SE is second on the list. Jeff Bezos, the former CEO of Amazon, is third with a net worth of $148.4 billion.
With a net worth of $90 billion, Mukesh Ambani, chairman and managing director (MD) of Reliance Industries, ranks 10th on Forbes’ list. The only other Indians on Forbes’ top 10 list are Adani and Ambani.
Gautam Adani is the founder and chairman of the Adani Group, which has interests in coal and gas trading, airports, and ports in addition to producing and distributing power. The company will take part in an Indian auction for 5G airwaves later this month.
About the Indian Economy
As Prime Minister Modi attempts to revitalize the $2.9 trillion economy and achieve India’s carbon net-zero target by 2070, some of the listed companies of the Adani Group have increased by more than 600 percent in the last two years on wagers that his drive into green energy and infrastructure will pay off.
Additionally, Gautam Adani has taken over control of seven airports and about a fifth of India’s air traffic in just three short years. He currently controls the largest non-state airport operator, electricity producer, and city gas marketer in the nation.
The Adani Group purchased a 74% share in the Mumbai International Airport in September 2020, making it the country of India’s largest airport operator. Adani Group purchased Holcim’s interest in Ambuja Cements and ACC in May 2022 in the largest cement deal in the nation, valued at $10.5 billion. Gautam Adani is currently the second-largest player in the nation’s cement market.
On July 14, Adani Ports and Special Economic Zone Limited (APSEZ), a joint venture between the business and Israel’s Gadot Group, won a bid to privatize Haifa port, the country’s second-largest port, for $1.18 billion. Additionally, Adani Group has applied for a loan of Rs 14,000 crore to build a new PVC plant in Mundra, Gujarat.
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