Gautam Adani zooms past Jeff Bezos to become world’s second richest man

The billionaire’s wealth went up by 4 per cent after Adani Ports and Adani Transmission stocks hit record highs on the Bombay Stock Exchange.

FPJ Web DeskUpdated: Friday, September 16, 2022, 01:50 PM IST
article-image
Billionaire industrialist Gautam Adani, Adani Group chairman and founder |

Little more than three decades after starting off as a diamond trader, Gautam Adani has managed to outshine Amazon founder Jeff Bezos to become the world’s second richest man. The billionaire who changed his fortunes after acquiring the Mundra port in Gujarat, later on ventured into the food, power and energy sectors, before emerging as an airport operator. As of September 2022, Adani is worth $155.7 billion marking his surge on the Forbes real-time business list.

Closing in on the top spot?

At the same time, Adani is still more than $100 billion behind the world’s richest man Elon Musk, even after Adani Ports and Adani Transmission stocks hitting record highs on the BSE triggered a 4 per cent rise in his net worth. But Adani may not be too far from the top spot, since he has added $70 billion to his wealth this year alone, and is the only one among the world’s 10 richest people who got richer this year.

Apart from being India’s largest coal trader and thermal coal producer, Adani’s conglomerate also has interests in infrastructure and real estate. He also has eyes on becoming the top green energy provider, and has made a $70 billion investment in renewables, although his coal mine in Australia has raised environmental concerns. Adani’s project to extract coal from Australia for usage in India has faced protests over its ecological impact, and last year American bank BNY Mellon also distanced itself from the project.

No dearth of controversies

Speaking of controversies, Adani’s acquisition of six airports across India without any prior experience in the sector, was also questioned due to NITI Aayog’s objections over the bidding process. There were also allegations of norms being violated to facilitate the privatisation of airports, which are now operated by Adani Airports. The seizure of narcotics worth Rs 350 crore at the Adani-owned Mundra port had also raised concerns earlier this year.

Other than business, Gautam Adani is also scaling up his charitable contributions by pledging to donate $7.7 billion from his wealth on his 60th birthday.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Elon Musk proposes to proceed with his $44 billion Twitter deal: Report

Elon Musk proposes to proceed with his $44 billion Twitter deal: Report

Asia pips the world with over 950 billionaires, Mumbai home to 51 of them

Asia pips the world with over 950 billionaires, Mumbai home to 51 of them

US regulators warns of crypto threatening financial stability, where does India stand on it?

US regulators warns of crypto threatening financial stability, where does India stand on it?

MahaRERA issues notices to 40 lapsed housing projects mostly in Mumbai

MahaRERA issues notices to 40 lapsed housing projects mostly in Mumbai

VideoLAN sends legal notice to DoT and MeitY over blocking VLC in India

VideoLAN sends legal notice to DoT and MeitY over blocking VLC in India