Gautam Adani is now world’s 3rd richest, has net worth of $137 billion

Gautam Adani, co-founder of the Adani Group, is now the third richest person in the world, according to the latest Bloomberg Billionaires data. The 60-year-old businessman with a net worth of $137 billion, falls after Elon Musk and Jeff Bezos on the list.

Tesla chief Elon Musk has a net worth of $251 billion and Amazon founder and CEO Jeff Bezos has a net worth of $153 billion. The third spot which was earlier occupied by Bernard Arnault, French businessman, co-founder of LVMH Moet Hennessy Louis Vuitton, commonly known as LVMH, has now been taken by Adani.

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With this, Adani becomes the first Asian to make it to the third most wealthiest people in the world.

The Adani Group

Adani is the co-founder of the Adani Group, the largest port operator, coal trader in India. Adani Enterprises reported a revenue of $5.3 billion in the year ending March 31, 2021, highlights Adani’s Bloomberg profile.

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Gautam Adani in the last few years, has ventured into various new sectors, ranging from data centres to cement, media and alumina. The Adani Group has also pledged to invest $70 billion in green energy to become the world’s largest renewable energy producer.

Climbing the ladder

Adani has added $60.9 billion to his fortune in 2022 alone. He first became the richest Asian in February 2022, overtaking Mukesh Ambani. Adani then climbed the ladder in July 2022, to become the world’s fourth richest person, surpassing Microsoft Corp’s Bill Gates.

Also Read: Gautam Adani overtakes Bill Gates to become 4th richest in the world

The Adani Group made it to the headlines last week with the announcement that the firm is set to acquire 29 per cent stakes in NDTV, one of India’s top news networks. However, NDTV has said the deal is subject to market regulator SEBI’s nod.

Fitch group unit CreditSights recently said the Adani Group is deeply overleveraged, may land in a dept trap.