Chairman and founder of the Adani Group Gautam Adani seen during the News18 Rising India Summit on February 25, 2019 in New Delhi, India.
Sanjeev Verma/Hindustan Times via Getty Images
Asia’s richest person, Gautam Adani, passed Jeff Bezos to become the world’s second-richest person.
In February, he became the richest Asian person, and has passed Bill Gates and Bernard Arnault.
Adani’s conglomerate, Adani Group, includes businesses in energy, transportation, and ports.
Jeff Bezos lost his title as world’s second-richest person on Friday to Indian industrialist Gautam Adani.
Adani’s fortune is now worth $146.9 billion, while Bezos’s net worth dropped to $145.8 billion today, according to Bloomberg.
In February, Adani, the founder and chairman of Adani Group, became Asia’s richest person, surpassing fellow Indian businessman Mukesh Ambani. Adani joined the centibillionaire’s club when his wealth hit $122 billion in April and he passed Warren Buffett and Larry Page. And in recent months, Adani also passed Bill Gates and Bernard Arnault on the billionaires list.
From college dropout to business tycoon
After dropping out of college at Gujarat University where he was studying commerce, Adani became a diamond sorter in Mumbai, Business Today reported.
He managed his brother’s plastic company, helping him import PVC, and in 1988 eventually established the flagship for Adani Group, Adani Enterprises.
Aside from successful business ventures, Adani has survived two dangerous situations.
Ten years after Adani Enterprises was established, Adani claimed he and his companion, Shantilal Patel, were kidnapped by a group of men in 1998. The men were acquitted in 2005 because the case lacked evidence. Times Now India reported that another two men were acquitted in 2018 because prosecutors couldn’t find a connection between them and Adani’s kidnapping.
He was also caught up in the 2008 Mumbai terrorist attacks when militants took over the Taj Mahal Hotel where he was dining. Adani hid in the hotel basement.
Now, Adani owns the largest commercial port in India, and has a majority stake in Mumbai Airport. Adani Group comprises seven publicly-traded companies, including Adani Green Energy Ltd and Adani Total Gas Ltd. As of September 16, 2022, Adani Group has a market cap of over $258.44 billion.
As second-richest person, Adani is only behind Elon Musk, who is worth $264 billion, according to the Bloomberg Billionaires Index.
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Source:: Business Insider