Gautam Adani, an Indian billionaire, briefly overtook Bernard Arnault, a French business tycoon, to take second place in the world's wealth rankings on Friday.
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The second-richest person in the world, Gautam Adani, surpassed French businessman Bernard Arnault on Friday for a brief period of time. According to the Forbes Real-Time Billionaires List, Adani and his family's net worth increased to $155.4 billion, surpassing that of LVMH Mot Hennessy - Louis Vuitton SE, co-founder, chairman, and CEO Arnault. With a net worth of $273.5 billion, Tesla CEO Elon Musk is currently barely ahead of Adani. With Mukesh Ambani ranking eighth and a net worth of $92.2 billion, there are now two Indians in the top 10 of the Forbbexes list. With a net worth of $149.7 billion, Amazon founder Jeff Bezos comes in third, after Microsoft founder Bill Gates ($105.3 billion), Larry Ellison ($98.3 billion), and famous Wall Street investor Warren Buffet ($96.5 billion).
Adani only overcame Gates to move up to third place in terms of wealth last month. Due to the enormous increase in his wealth brought on by the Adani Group shares rising this year, Adani's rating in Forbes has increased. All of the other billionaires in the top 10 suffered a fall in their net worth on Friday, with the exception of Musk and Adani. Adani's wealth increased by about $5 billion today, while Anault's net worth decreased by $3.1 billion, or 1.97%. The recent increase in the value of Adani Group equities is the main factor that has helped Adani move up the rankings. The value of the group chairman's real-time net worth increased as a result of the Adani Group equities Adani Enterprises, Adani Port, and Adani Transmission reaching new highs on the BSE early on Friday.
Adani group shares have increased despite some lawmakers and market observers voicing concerns about the conglomerate's companies' opaque shareholder arrangements and a lack of analyst coverage. Since 2020, several shares of companies in the Adani group have increased by more than 1,000%. Another reason Adani has been able to surpass some of the wealthiest US billionaires this year, according to a Bloomberg study, is in part because some of the wealthiest Americans lately increased their donations. While Warren Buffett has previously given the Bill & Melinda Gates Foundation more than $35 billion, Bill Gates announced in July that he would be contributing $20 billion to the organisation.
According to the Bloomberg Billionaires Index, Adani has increased his wealth by $72 billion so far this year, making him the only person among the top 10 richest persons in the world (aside from Mukesh Ambani) to have done so. The largest port operator in India and founder of the conglomerate Adani Group, Adani is 60 years old. According to March 2022 stock exchange filings, the billionaire owns 75% of the shares of Adani Enterprises, Adani Power, and Adani Transmissions. Additionally, he holds a 37% ownership in in Adani Total Gas, a 65% stake in Adani Ports & Special Economic Zone, and a 61% stake in Adani Green Energy.
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