Skip to main content

Indian billionaire Gautam Adani is now the world's third richest man

Indian billionaire Gautam Adani is now the world's third richest man

 Indian billionaire Gautam Adani has become the world's third richest man, according to Bloomberg and its Billionaires Index. With this, he also becomes the first Asian person to take this spot. His net worth is around $137 billion approximately.

He is placed just behind Tesla CEO Elon Musk and Amazon founder Jeff Bezos, whose fortunes are estimated at $251 billion and $153 billion, respectively.

Adani was already Asia's richest man. In February this year, he had overtaken businessman and managing director of Reliance Industries Limited (RIL), Mukesh Ambani, to enter the top 10 list of the world’s richest people. 

Adani is the chairman and founder of the conglomerate Adani Group. He has seen his wealth skyrocket during the pandemic. His wealth rose by $12 billion over the past year.

His firm controls companies ranging from ports and aerospace to solar energy and coal. He turned a small commodities trading business into a big conglomerate.

According to Bloomberg, he has also benefited from an uptick in coal usage in recent months. He also owns 74 percent of Mumbai international airport. The Adani Group also controls the port of Mundra, the largest private port in India.

Last week, he came into the limelight by announcing a hostile bid to take over an influential broadcaster in India, New Delhi Television (NDTV). The deal is being conducted by AMG Media Networks, a unit of Adani's conglomerate.

According to media reports, some of Adani Group's listed stocks also soared more than 600 percent in the past two years. Adani-owned firms like Adani Total Gas Ltd and Adani Transmission Ltd also performed much better than other companies in 2021. Adani Total Gas Ltd and Adani Transmission Ltd jumped by about 370 percent and 250 percent, respectively, in the last year. 


Labels:

Comments

Post a Comment

Popular posts from this blog

Bangladesh Military Expresses Discontent Over Chinese Weapons; Reports 'Sub-Standard' and Faulty Parts

  Bangladesh, a traditional buyer of Chinese military equipment, has raised grievances with Beijing regarding the delivery of defective components and technical malfunctions in its imported military hardware. This issue is not unique to Bangladesh, as other nations like Myanmar have also encountered problems with Chinese fighter jets, according to an ET report. Experts in the Chinese defense industry argue that Beijing lacks the expertise to manufacture highly sophisticated military hardware and is not yet considered a top-tier producer of modern defense equipment. They claim that much of China's weapon systems are based on outdated technology copied from the West. Developing countries often opt for Chinese weapons due to their lower cost compared to similar systems from Western countries. China sells arms through state-run export organizations like the Aviation Industry Corporation of China (AVIC), NORINCO, and CVIC. Sources familiar with the matter told ET that the Bangladesh mil...
Post a Comment
Read more

India raises concern over North Korea missile tests at UNSC, 2nd time in weeks

 As the United Nations Security Council (UNSC) met for the second time in a month over the missile tests in North Korea, India yet again raised concerns over the impact on peace and security in the region. New Delhi has also reiterated its support for the denuclearisation in the Korean peninsula, underlining that it is “in collective interest” while also stressing that “dialogue and diplomacy” are preferred means to resolve the issue. The latest intercontinental ballistic missile (ICBM) test by the DPRK (Democratic People's Republic of Korea) has again sparked tensions between nations with the United States and its allies calling for the country to limit its programs even as Russia and China back Pyongyang amid the likelihood of new sanctions. In the latest UNSC meeting, the United States, Britain, France, and India were among 14 nations to "strongly condemn" the latest North Korea launch on Friday, which was reported to have landed about 125 miles (200 kilometers) from ...
Post a Comment
Read more

North Korea Celebrates 'New Era of a Space Power' after Satellite Launch

  In a significant development, North Korea recently celebrated what it termed a 'new era of a space power' following the successful launch of a satellite. The reclusive nation's space endeavors have long been a source of international concern and scrutiny, raising questions about its technological capabilities and intentions. This latest achievement has reignited debates and speculation about North Korea's space ambitions. The satellite launch, conducted by North Korea's space agency, comes amid a backdrop of geopolitical tensions and global attention on the Korean Peninsula. The state media hailed the event as a major milestone, highlighting the successful deployment of the satellite into orbit. However, it is important to note that the international community remains skeptical, with concerns over the dual-use nature of space technology that could potentially be applied to ballistic missile systems. North Korea's pursuit of space capabilities has been a conten...
Post a Comment
Read more