- The Indian who became the third richest man in the world dropped out of school and earned over $60 billion so far this year
- Gautam Adani's exceptional wealth skyrocketed while his colleagues struggle with many losing most of their personal fortunes
- Adani's wealth comes mainly from port operations, power generation, renewable energy and airport operations
The third richest man in the world, Gautam Adani, has made about $60 billion this year alone as other 499 billionaires struggled to add to their wealth.
Indian-born Gautam Adani’s exceptional wealth gain started this year. Bloomberg said that with a a fortune of $137 billion, he has surpassed any other billionaire, most of whom have their wealth dropped this year.
Billionaires losing billions
Tesla CEO Elon Musk has lost about $18.9 billion this year, leaving his fortune at $251 billion. In contrast, Jeff Bezos, Amazon owner and the second-richest man in the world, has lost about $39 billion.
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According to Bloomberg, Adani is a college dropout and raced into the top three positions on Monday, August 29, 2022 - the first time anyone from Asia has made it into the top position.
The position has put Adani’s status above luxury goods merchant and CEO of LVMH, Bernard Arnault, Microsoft founder Bill Gates and Berkshire Hathaway Warren Buffet.
Adani founded the multinational conglomerate Adani Group, India’s biggest port operator. The Group’s other businesses include electric power generation and transmission, renewable energy, natural gas, infrastructure, airport operations and mining.
A pact with energy firm
Adani Solar, for example, aims to generate 450 GW of renewable energy by 2030.
In August, his company entered a deal with TotalEnergies to acquire a 25 per cent stake in Adani New Industries, to produce and commercialise green hydrogen in India.
According to reports, Adani Enterprises saw a 73 per cent leap in consolidated net profit for the first quarter ended in June and a 225 per cent spike in consolidated revenue.
The shares of his company have swelled by 86 per cent this year.
Indian Billionaire overtakes Bill Gates as world’s fourth richest Man
Legit.ng reported that weeks after he said he wants to drop off the world’s richest people table, Indian businessman, Gutam Adani has dusted Microsoft Founder, Bill Gates as the world’s fourth richest man, according to multiple reports.
The 60-year-old business mogul’s net worth reached $115.5 billion on Thursday, July 21, 2022, wiping off Gates’ fortunes which currently stands at $104.6 billion.
Another Indian, Mukesh Ambani ranks 10th on the list.