Gautam Adani overtakes France's Bernard Arnault to become world's 3rd richest person

By Aditi T | First Published Aug 30, 2022, 9:42 AM IST

According to Bloomberg, this is the first time an Asian has appeared among the world's top three wealthiest people. The 60-year-old business magnate trails Jeff Bezos and Elon Musk on the coveted list with a net worth of $137 billion.

Adani Group chairman Gautam Adani has surpassed France's Bernard Arnault to become the world's third-richest person, according to the Bloomberg Billionaires Index. The 60-year-old business tycoon trails Elon Musk and Jeff Bezos on the coveted list with a net worth of $137 billion.

Telsa CEO Elon Musk has a net worth of $251 billion, while Amazon founder and CEO Jeff Bezos has a net worth of $153 billion. Gautam Adani has surpassed Bernard Arnault, co-founder of LVMH Moet Hennessy Louis Vuitton, commonly known as LVMH.

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As per Bloomberg, this is the first time an Asian has made the list of the world's top three wealthiest people.

The index is a daily ranking of the world's wealthiest people. The calculations are explained in detail on each billionaire's profile page in the net worth analysis. The figures are updated at the end of each New York trading day.

Gautam Adani is a co-founder of the Adani Group, the country's largest port operator. The company is also said to be the country's largest coal trader. According to the Bloomberg profile of Asia's richest person, Adani Enterprises reported $5.3 billion in revenue for the fiscal year ending March 31, 2021.

Adani is a first-generation entrepreneur; its Group includes seven publicly traded companies in energy, ports and logistics, mining and resources, gas, defence and aerospace, and airports. The Group has established a leadership position in India in its business areas.

The conglomerate made headlines last week with the announcement that Adani firms are set to acquire 29 per cent stakes in NDTV, one of India's top news networks. However, NDTV has stated that the transaction is subject to approval from market regulator SEBI, which the conglomerate has declined.

Furthermore, Fitch group unit CreditSights recently stated that the Adani Group is highly leveraged and could fall into a debt trap.

Also Read: Adani group rejects NDTV's assertion of SEBI nod for share acquisition

Also Read: 'Without our consent...' claim NDTV founders after Adani group announces stake purchase

Also Read: 'Move to control and stifle...' says Congress on Adani's NDTV stake purchase

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