The world is changing fast. The social, economic, and political situations can alter at any time. The Indian tycoon, Gautam Adani has seen such a change in his position on the wealth rankings. He has surpassed Amazon’s Jeff Bezos in order to fill in the position of the world’s second richest man. So how this drastic change happened in his net worth?
In February, Adani had overtaken Mukesh Ambani as to be the richest Asian. He also became a centi-billionaire in April. The Indian businessman had pushed back Microsoft’s Bill Gates to the world’s fourth richest man last month. The Adani group chairman has added about $70 billion to his fortune in 2022. Here’s what happened that altered Adani’s fortune.
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Who Is Gautam Adani?
Gautam Adani is the founder and chairman of the Indian conglomerate Adani group. He has briefly become the world’s second richest person with a net worth of $155.7 billion as of September 16, 2022. As a college dropout, Adani started his life in Mumbai as a diamond sorter. In the 1980s, Adani opened up the gateway to his enterprises through plastic units that imported primary plastics from small-scale industries. By the end of that decade, Adani Exports came into being. The 1990s saw the expansion of Adani’s business into metal, textiles, and agricultural commodities.
By 1995, Adani got the contract to run the largest port in India the Mundra port. Today, the Ahmedabad-based infrastructure group is India’s largest closely held thermal coal producer and largest coal trader too. In May 2022, the industrialist made a breakthrough into the cement industry by buying the Indian cement division of Holcim for $10.5 billion. The billionaire is now on his quest to become the greatest green energy generator in the world.
How Did He Become The World’s Second Richest Man?
Adani’s fortune surged to make him the world’s second richest as there was a sharp rally in the Adani Group stocks. Adani Group stocks of Adani enterprises, Adani Port, and Adani Transmissions hit their record high in BSE in the early deals on Friday. And this change was reflected in the net worth of the self-made billionaire. This year alone, Adani had amassed about $70 billion, five times more than anyone else. The latest change in his fortune also made him the only Asian to break into the top three richest in the world.
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