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Business News/ Companies / People/  Gautam Adani becomes busiest dealmaker globally: Bloomberg 50 Report
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Gautam Adani becomes busiest dealmaker globally: Bloomberg 50 Report

Gautam Adani started as a diamond trader in Mumbai and made most of his fortune in ports and mines

FILE PHOTO: Indian billionaire Gautam Adani addresses delegates during the Bengal Global Business Summit in Kolkata, India April 20, 2022. REUTERS/Rupak De Chowdhuri/File Photo (REUTERS)Premium
FILE PHOTO: Indian billionaire Gautam Adani addresses delegates during the Bengal Global Business Summit in Kolkata, India April 20, 2022. REUTERS/Rupak De Chowdhuri/File Photo (REUTERS)

Gautam Adani has topped the list of people whose wealth witnessed the maximum rise globally during this year. In the 'Sixth Bloomberg 50' report, which looks at those in business, politics, science and technology, finance and entertainment whose accomplishments deserve recognition said Adani, who is already the third richest person in the world. Gautam Adani, 60, is the world's third-richest person, with an estimated net worth of $134 billion and interests ranging from Australian coal mines to India's busiest ports.

The $49 billion surge in his personal wealth this year has put him ahead of Bill Gates and Warren Buffett as well. Now with a net worth of $125.5 billion-also surpassing Jeff Bezos-Adani is expanding his infrastructure conglomerate. He's been the busiest dealmaker this year, acquiring assets such as Swiss cement giant Holcim Ltd.'s India units for $10 billion.

"The Indian tycoon's wealth has surged more than anyone else's this year, making him the world's third-richest person behind Bernard Arnault and Elon Musk," it said on December 14.

A first-generation entrepreneur who dropped out of college, Adani, started as a diamond trader in Mumbai and made most of his fortune in ports, renewable energy and logistics.

The Bloomberg report has taken into account the USD 49 billion surge in Adani's wealth, which had helped put him ahead of billionaires like Bill Gates and Warren Buffet.

Adani Green Energy Limited (AGEL) has already become the world's largest solar energy producer and is fast developing capabilities into other forms of renewable energy generation.

While Adani has become the leading Indian conglomerate with the highest market cap, he is also leading from the front in philanthropic activities.

Recently, Adani Enterprises approved plans to raise $2.45 billion through a follow-on public offer -- set to be India's biggest ever, subject to regulatory approval. His big bets - in cement and renewable energy, as well as airports and an expanded mining operation - have been funded by huge levels of debt

The fresh funds will be key to reducing debt and fuelling further business expansion for the flagship entity, shares in which have surged nearly 1,000 percent over the past two years.

*With inputs from agencies

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Published: 16 Dec 2022, 03:07 PM IST
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