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How did Gautam Adani become the world's 2nd richest man?

2nd richest man; Gautam Adani became the second richest person today, but only for a short period. The tycoon overtook Amazon

By Ground report
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Gautam Adani became the second richest person today, but only for a short period. The tycoon overtook Amazon boss Jeff Bezos and Louis Vuitton's Bernard Arnault to take second place with a net worth of $154.7 billion, Forbes' real-time billionaires' list showed, before Arnault pushed for third place.

Gautam Adani 2nd richest man

Adani's net worth has risen even as shares of Adani Group companies (Adani Enterprises, Adani Port and Adani Transmission) hit all-time highs on Friday (Sep 16) on the BSE.

In the calendar year 2022, Adani has added more than $70 billion to his fortune, only one of the 10 wealthiest people in the world to have seen his net worth increase this year. He became a millionaire in April and overtook Microsoft Corp's Bill Gates as the world's fourth-richest person last month.

Last month, Adani became the first Asian to enter the top 3 of the Bloomberg Billionaires Index, with a net worth of $137.4 billion, leaving business tycoon Bernard Arnault, co-founder of the network, behind in the ranking. LVMH luxury fashion. Moet Hennessy Louis Vuitton, commonly known as LVMH. He was only behind Elon Musk and Jeff Bezos in the world rankings. Now, within a month, he took second place leaving Bezos behind.

Now, in the top 3 list, the top spot is held by Elon Musk, with a net worth of $273.5 billion. Bernard Arnault and Family hold second place with a net worth of $153.8 billion and third place is held by Gautam Adani and Family with $152.6 billion. Indian business tycoon Mukesh Ambani is ranked eighth on the Forbes list with a net worth of $91.6 billion.

Adani's net worth

Adani's net worth has risen 3.49 percent to more than 12 lakh crore, according to the Forbes Billionaires List. Elon Musk, the founder of Tesla, has a higher net worth than him ($273.5 billion). Musk earned $789 million but is currently locked in a protracted legal battle with Twitter over his decision to back out of the $44 billion purchase.

The only billionaires on the top 10 list who have seen their net worth increase are Adani and Musk. The Adani Group, the nation's largest port operator, was co-founded by Gautam Adani. The organization is reputed to be the largest coal trader in India. Mukesh Ambani, the head of Reliance Industries, is the only other Indian in the top 10, and he has a net worth of $92 billion. Ambani has overtaken Google co-founders Larry Page and Sergey Brin, whose Reliance Jio is slated to bring standalone 5G services to some Indian cities by Diwali. However, Ambani's net worth decreased by $2.8 billion.

Adani overtook Gates

There are now two Indians in the top 10 on the Forbes list with Mukesh Ambani in eighth place with a fortune 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). billion) and star Wall Street investor Warren Buffet ($96.5 billion).

It was only last month that Adani overtook Gates to become the third richest person in the world. Adani's jump in Forbes ranking is the result of his massive increase in fortune due to the rally in Adani Group stock this year. Except for Adani and Musk, every other billionaire in the top 10 saw their net worth decline on Friday. Adani's fortune jumped nearly $5 billion today, while Anault's net worth fell 1.97% to $3.1 billion.

The key reason Adani moved up the ranks is the rise in Adani Group shares in the recent past. Adani Enterprises, Adani Port and Adani Transmission were among the Adani Group stocks to hit all-time highs on the BSE in early trading on Friday, prompting a real-time rise in net worth for the group's chairman.

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