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Gautam Adani Temporarily Rose To The Position Of Second-Richest Person In The World.

Gautam Adani Temporarily Rose To The Position Of Second-Richest Person In The World.

Gautam Adani, a multibillionaire tycoon, almost edged over Bernard Arnault to claim second place on the Forbes list for a brief period. The chairman of the Adani Group is currently valued at $155.5 billion (12.37 lakh crore). Later, the head of Louis Vitton moved up to position two, while Adani was positioned at position three.

Gautam Adani

Indian business tycoon Gautam Shantilal Adani was born on June 24, 1962, and is a billionaire. He is the founder, president, and chairman of the Adani Group, an international corporation with operations and port development in Ahmedabad, India. Additionally, Adani serves as the head of the Adani Foundation, which his wife, Priti Adani, mainly runs. He is the wealthiest man in both Asia and India. According to the Bloomberg Billionaires Index, Adani ranked second in the world in terms of wealth as of September 17, 2022, with a total net worth of US$ 147 billion. Gautam Adani and his family are the third wealthiest people in the world, according to Forbes’ “the real-time billionaires” list, with a combined net worth of US$152.2 billion.

Adani began operating as a power-producing company in 2006. He bought the Carmichael coal mine in Queensland and Abbot Point Port in Australia between 2009 and 2012.

Adani won the $6 billion global solar auction by the Solar Energy Corporation of India (SECI) in May 2020. Adani Green will take on the 8000MW photovoltaic power plant project, and Adani Solar will add 2000MW of other solar cell and module production capacity.

Adani purchased a 74% share in Mumbai International Airport, India’s second busiest airport after Delhi, in September 2020.

Speaking at the Bloomberg India Economic Forum in November 2021, Adani declared that the company is investing USD$70 billion in a new green energy venture.

He provided updated information in July 2022 about how this investment will be used to construct three enormous factories: solar, electrolyze (to create green hydrogen), and wind turbine plants.

He surpassed Mukesh Ambani to become the wealthiest person in Asia in February 2022.

He was ranked third in terms of wealth in the world by Fortune in August 2022.

Through a foreign special-purpose corporation, the Adani family purchased Ambuja Cements and its subsidiary ACC from Holcim Group in May 2022 for $10.5 billion.

AMG Media Networks Limited (AMNL), a division of the Adani Group, announced in August 2022 that it intended to acquire RRPR Holding, which is the owner of 29.18% of the national news channel NDTV and launched an open offer to acquire an additional 26%. The company’s founders, former journalist Radhika Roy and her economist husband Prannoy Roy, were not informed of Adani’s acquisition of his interest through a third party, according to a statement from NDTV, and the transaction took place “without discussion, consent, or notification.” Adani is regarded as close to the ruling Bharatiya Janata Party, led by Prime Minister Narendra Modi; this bid also raised questions about editorial independence in India.

According to Bloomberg, the kitchen supplies company, Adani Wilmar Ltd. of the Adani Group, is looking for domestic and international acquisition candidates to grow its culinary operations division. To expand its consumer goods offering and reach, the company is aiming to buy brands in staple foods and distribution businesses, according to Angshu Mallick, chief executive officer and managing director of the company.

Adani Wilmar set aside 500 crores from its initial public offering for the purchases. He said that internal accruals and the 30 billion rupees in planned capital investment for the following year beginning in April would provide the additional funding. Since the company’s $486 million launch in February, the share price of the food company has more than tripled.

Reliance Industries, owned by Mukesh Ambani, had stated in August that it would enter the FMCG industry through its subsidiary Reliance Retail.

Forbes List

According to the Forbes Real Time Billionaires List, Adani’s net worth increased by $5.2 billion, or 3.49 percent. Tesla founder Elon Musk maintains the top spot in the rich list.

Mukesh Ambani, the chairman of Reliance Industries, is the second Indian on the top 10 list and has a net worth of $92.2 billion. The top ten list includes Bill Gates, Larry Ellison, Warren Buffett, Larry Page, and Sergey Brin as billionaires.

As of August 30, Adani had surpassed Louis Vitton CEO Arnault to take third place in the world’s wealth rankings. The inclusion of an Asian among the top three billionaires was a first.

Prediction

It is anticipated that Gautam Adani will see a decline in his net worth. And move to third position shortly and move below within three or four days. The prediction may or may not be correct. What’s your Opinion?