Placeholder canvas

Gautam Adani Overtakes Louis Vuitton Chief To Become World’s Third Richest Man

Date:

New Delhi: Business conglomerate Adani Group’s chairman Gautam Adani is now the world’s third-richest person after overtaking France’s Bernard Arnault, Louis Vuitton chairman, according to Bloomberg Billionaires Index.

With a total net worth of $137.4 billion, 60-year-old Adani has surpassed the wealth of Louis Vuitton chairman Arnault and is now just behind business magnate Elon Musk and Jeff Bezos in the ranking.

In the latest Bloomberg Billionaires Index, Reliance chief Mukesh Ambani is at number 11 with a total $91.9 billion worth.
This is the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index.

The index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.

The net worth of Elon Musk and Jeff Bezos are currently at #251 billion and $153 billion, respectively.

Adani is a first-generation entrepreneur and the Adani Group comprises of 7 publicly listed entities with businesses spanning energy, ports and logistics, mining and resources, gas, defence and aerospace and airports. In each of its business areas, the Group has established a leadership position in India.

The Adani Group is the third largest conglomerate (after Reliance Industries and the Tata Group) in India.

Listed Adani group companies are Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Power, Adani Total Gas, and Adani Transmission.

Over the past 5 years, flagship company Adani Enterprises has invested heavily in new growth sectors that include airports, cement, copper refining, data centres, green hydrogen, petrochemical refining, roads and solar cell manufacturing.

Looking ahead, it plans to foray into the telecom space and has massive plans to grow its green hydrogen and airports businesses.
Recently, the Group also announced plans to set up a 4.1 mtpa integrated alumina refinery and a 30 mtpa iron ore beneficiation plant in Odisha that could cost over Rs 580 billion.

As corporate social responsibility towards the community, the Adani Group had decided to contribute Rs 60,000 crore towards charitable activities related to healthcare, education, and skill development, focussing especially on rural India, he told shareholders at the group’s Annual General Meeting held in late July.

(With ANI inputs)

Click here for Latest News updates and viral videos on our AI-powered smart news

For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

From Deepfake Concerns To India’s AI Mission PM Modi Interacts With Bill Gates

New Delhi: Prime Minister Narendra Modi engaged in a...

NewsMobile Morning Brief

Actor Govinda Joins Eknath Shinde’s Shiv Sena Ahead Of...

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...

IPL 2024: Rajasthan Royals Defeat Delhi Capitals By 12 Runs

Jaipur: Rajasthan Royals clinched a 12-run win over Delhi...