Ask who is the richest man in India, and it would usually be Mukesh Ambani. But that would not be the case for at least a few months.
Chairman of Adani Group, Gautam Adani has climbed up to the top spot in India, and is now a Centibillionaire, a person with assets worth over 100 billion dollars and then some more. As of April 5, Adani is worth $105 billion. That’s $5 billion more than Mukesh’s net worth.
As per Bloomberg Billionaire Index, his wealth increased by $23.5 billion so far this year. On the international stage, Adani stand as the 10th richest man in the world, again beating Ambani and sending him to the 11th spot.
The ranks are change when a person’s fortune changes, and it must be noted that in the last few months, Adani and Ambani have been swapping positions for the top spot on the billionaires index.
Adani Group, founded in 1988 has diverse business portfolios; and these have given robust returns to Adani. The Group is into power generation and distribution, renewable energy, gas and infrastructure, logistics (seaport, airports, shipping, and rail), mining and resources, and other sectors.
An article in the Times Now mentioned that according to the 2022 M3M Hurun Global Rich List published recently, Adani saw his net worth swell by USD 49 billion in the year 2021 – higher than that of top three global billionaires Elon Musk, Jeff Bezos and Bernard Arnault.
Recently, the shares of his edible oil company Adani Wil-mar witnessed a 30 per cent rise. Sources indicated that the ongoing Russia-Ukraine War also has an effect on the 59-year old tycoon’s wealth rise.
Since Russia-Ukraine broke out, shares of Adani Wil-mar have been rising. The expectation is that India’s sunflower imports will be hit as both Russia and Ukraine are significant suppliers of sunflower oil to India, Times Now said.
Meanwhile, Elon Musk dominates the Bloomberg Billionaire index as The Richest Man with more than $ 270 billion followed by Amazon’s founder Jeff Bezos 188 billion. Bernard Arnault , Chairman of LVMH Moët Hennessy is at the third spot with a wealth of $148 billion.
Microsoft Founder Bill Gates, Berkshire Hathaway’s CEO Warren Buffett took the fourth and fifth spot with a net worth of $ 133 billion and $ 127 billion respectively.