Indian billionaire, industrialist and Adani Group’s Chairperson Gautam Adani is now the second richest man in the world.
He now has a fortune of $155.7 billion as of September 16, 2022, up by $5.5 billion or nearly 4%.
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Standings now
Adani’s achievement has been driven by a sharp rally in the Adani Group stocks.
He has overtaken Amazon’s Jeff Bezos to secure the second richest spot, now just behind Tesla’s Elon Musk, who remains the world’s richest man with $273.5 billion net worth, as per Forbes.
Rival Mukesh Ambani, who heads the Reliance Industries Ltd, is at the eighth spot and is worth $92 billion.
Adani Group stocks Adani Enterprises, Adani Port and Adani Transmission hit their record highs on the BSE leading to a surge in the group Chairman’s real time net worth.
Adani has added more than $70 billion to his fortune in 2022 (YTD) so far
Sequence of events
This makes him the only one among the world’s 10 wealthiest people to have seen his net worth increase this year.
- He first overtook Mukesh Ambani as the richest Asian in February.
- Became a centibillionaire in April.
- Surpassed Bill Gates as the world’s fourth-richest person last month.
Going beyond
While he has spent the past few years expanding his ports-to-power transmission empire he is now seeking to conquer businesses ranging from data centers to cement, media and more.
Another venture he is trying to enter is the food production industry which is pegged at $400 billion.
This comes weeks after Reliance Industries Ltd. announced plans to launch a consumer goods business.
Kohinoor acquired
His Groups food and kitchen essentials arm – Adani Wilmar is looking for local and overseas acquisition targets.
It already won exclusive rights over Kohinoor’s basmati rice and ready-to-cook, ready-to-eat curries and meals in India.
Angshu Mallick, chief executive officer and managing director at Adani Wilmar, said in an interview Wednesday, “We are expecting to conclude a couple of acquisitions by March.”
Cement business
This May he entered the cement industry by winning the race to acquire Swiss giant Holcim’s cement business in India for $10.5 billion.
Green energy
Adani also wants to be the world’s largest producer of green energy.
He said he will invest up to $70 billion on renewable energy projects.
Charity
He pledged in June to donate $7.7 billion for social causes to mark his 60th birthday.
He owns 75% stakes in Adani Enterprises, Adani Power and Adani Transmissions.
He also owns about 37% of Adani Total Gas.
He also owns about
- 37% of Adani Total Gas
- 65% of Adani Ports & Special Economic Zone
- 61% of Adani Green Energy.
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