$100 Billion Club: India’s Gautam Adani joins ranks with Elon Musk and Warren Buffett

Adani joined this elite club which includes Tesla CEO Elon Musk, Jeff Bezos founder of Amazon and other 7 billionaires. Gautam Adani has also become the richest person in Asia, surpassing Reliance Industries’ chairman Mukesh Ambani. Indian businessman Adani and French businessman Bernard Arnault- chairman of luxury goods group (LVMHF) are the only non-Americans in the centibillionaires club.

India’s infrastructure tycoon Gautam Adani has now entered the centibillionaires club which includes businessmen with a wealth of $100 billion or more. Adani joined this elite club which includes Tesla CEO Elon Musk, Jeff Bezos founder of Amazon and other 7 billionaires. Gautam Adani has also become the richest person in Asia, surpassing Reliance Industries’ chairman Mukesh Ambani. Indian businessman Adani and French businessman Bernard Arnault- chairman of luxury goods group (LVMHF) are the only non-Americans in the centibillionaires club. When the stock market around the world boomed during the pandemic, the wealth of many billionaires grew but Adani’s growth was exceptional.


Key Points |


1. According to Bloomberg, Adani has now become the 10th richest man in the world, leaving fellow countrymen Ambani behind. His net worth increased by $23.5 billion in 2022, accounting his total net worth to $100 billion. Reportedly his net worth grew by $2.44 billion on April 1st alone.

2. Adani’s conglomerate includes companies ranging from ports and aerospace to thermal power. Adani group’s wealth soared by nearly $90 billion over the last two years. According to Forbes’ real-time billionaires list, Gautam Adani and family holds a networth of $107 billion which is $6 billion more than that of Ambani’s net worth.

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3. More than 1000% increase in shares of some of Adani companies have been recorded since June 2020. This proves that investors trust the billionaire industrialist’s ability in sectors such as infrastructure and green energy.

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4. Soon after the central government decided to dump fossil fuels and shift towards renewable energy, the Adani group grabbed the opportunity and now it is on its way to become the largest solar power producer in the world.

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5. Adani group, last month announced that it will acquire a minority stake in Quintillion Business Media which is the parent company of business news platform BloombergQuint.

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