Saturday, December 2, 2023

Adani is now world’s second richest; Ambani is 8th

Billionaire industrialist Gautam Adani, who heads the Adani Group, has edged past Bernard Arnault, the co-founder and chairman of LVMH Moet Hennessy – Louis Vuitton, to become the world’s second richest individual, according to data by Forbes.

According to Forbes’ Real-Time Billionaires List, Adani and his family’s net worth as of early Friday stood at $155.4 billion against Arnault’s $155.2 billion.

The Forbes list is currently headed by SpaceX and Tesla CEO Elon Musk whose net worth stands at $273.5 billion. He is followed by Adani, Arnault and Amazon founder Jeff Bezos (net worth $$149.7 billion), the data showed.

Reliance Industries Chairman and Managing Director Mukesh Ambani is placed in eighth place with a net worth of $92.3 billion, behind Microsoft founder Bill Gates (net worth $105.3 billion), Larry Ellison (net worth $98.3 billion) and veteran Wall Street investor Warren Buffet (net worth $96.5 billion).

Sixty-year-old Adani has spent the past few years expanding his ports-to-power transmission empire, venturing into various businesses ranging from data centers to cement, media and more. The Adani Group owns India’s largest private-sector port and airport operator, city-gas distributor and coal miner.

Its food and kitchen essentials arm – Adani Wilmar is also looking for local and overseas acquisition targets in a bid to boost its empire’s food operations.

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