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Home / News / Business News / Gautam Adani joins $100 billion club, surpasses Mukesh Ambani
Business

Gautam Adani joins $100 billion club, surpasses Mukesh Ambani

Gautam Adani joins $100 billion club, surpasses Mukesh Ambani
Written by Abhishek Hari
Edited by Abhishek Sharma
Apr 03, 2022, 11:29 am 2 min read
Gautam Adani joins $100 billion club, surpasses Mukesh Ambani
Indian billionaire Gautam Adani just joined the $100 billion club while surpassing Mukesh Ambani to become India's richest person.

Gautam Adani, chairman of Adani Group, is the latest member of the $100 billion club, surpassing Reliance Industries chairman Mukesh Ambani to become India's wealthiest man, according to Bloomberg's Billionaires Index. Adani added nearly $24 billion in 2022, becoming the world's largest gainer. Elon Musk currently leads the list of billionaires, followed by Jeff Bezos and Bernard Arnault in second and third place, respectively.

Details
Adani's wealth grew by Rs 6,000 crore per week

Gautam Adani is currently the CEO of the ports-to-energy conglomerate Adani Group, which has seven companies listed on the Indian share market. Over the last year, his fortune has grown by about Rs 6,000 crore per week, while his income has increased by 153%. The industrialist is now ranked tenth in the index that ranks the world's wealthiest people based on their net worth.

Profile
From a college dropout to becoming India's richest person

Adani, a college dropout who initially dominated the coal industry, expanded his fortune into related industries such as green energy and infrastructure, attracting investments from companies such as France's Total SE and Warburg Pincus. Adani Group stock has risen over 1,000% since 2020. According to Bloomberg, he may be exploring partnerships in Saudi Arabia, possibly to purchase stakes in the world's largest oil exporter.

Ambani
Mukesh Ambani 11th on the list

Mukesh Ambani, the chairman of oil-and-petrochemicals conglomerate Reliance Industries Ltd, was ranked 11th after his net worth, which first surpassed that threshold in October, fell slightly below it to $99 billion, according to a Bloomberg Quint report. Ambani was named Asia's richest man just two weeks ago, with $103 billion in wealth, a 24% increase in a year, Hindustan Times reported.

India
India has 8% of world's total billionaires

Indian billionaires' total wealth has increased by $700 billion in the last decade. This is equal to the GDP of Switzerland and twice the GDP of the United Arab Emirates and constitutes 8% of the world's total billionaires. There are 215 billionaires in India, and with 58 new additions, India remains the third-largest billionaire-generating country in the world, adding to India's massive rich-poor divide.

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Abhishek  Hari
Abhishek Hari
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Abhishek Hari is a JRF holder in Political Science and is currently the National Writer at NewsBytes. He has previously worked as Sub-editor at The Wire and as a political researcher at the Lok Sabha Secretariat. Hindu College, University of Delhi, and Jamia Millia Islamia are his alma mater. In his free time, he loves to play the drums and listen to classic rock and roll music.
Abhishek Sharma
Abhishek Sharma
Twitter
Abhishek is a news enthusiast roaming in the digital landscape for close to a decade. Currently, he is the National Editor at Newsbytes, mentoring a team of young journalists and correcting their (literal) mistakes. He has been associated with multiple media groups in the past, including Zee Media and the Times Group. When not working, he can be found in the kitchen cooking something delicious.
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