Gautam Adani becomes world’s 4th richest person

Wednesday 27th July 2022 06:32 EDT

Gautam Adani, chairman of Adani group, is famous for turning a small commodities trading business into a multinational spanning ports, mines and green energy. Gautam Adani has now left behind Microsoft co-founder Bill Gates to become the world's fourth richest person, according to Forbes' RealTime Billionaires List. The 60-year-old business tycoon's net worth reached $115.5 billion covering Gates whose fortunes are at $104.6 billion.
At $90 billion, fellow countryman Mukesh Ambani ranks 10th on the list. Elon Musk,Tesla and SpaceX founder, tops the list with $235.8 billion.
The Adani group has recently won the tender for the privatisation of a port in Israel in partnership with Gadot. The Port of Haifa is the largest of Israel's three major international seaports. In barely three years, Adani has gained control of seven airports and almost a quarter of India's air traffic. His group now owns the country's largest airport operator, power generator and city gas retailer in the non-state sector. Adani Data Networks, along with Reliance Jio, Bharti Airtel and Vodafone Idea, has also applied to participate in the upcoming 5G auction.
Some of Adani Group's listed stocks have soared more than 600% in the past two years on bets his push into green energy and infrastructure will pay off as PM Modi looks to revive the $2.9 trillion economy and meet India's carbon net-zero target by 2070
To mark Adani's 60th birthday last month, his family had assured to donate £6 billion to a range of social causes.

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