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HomeTop Stories EnglishGautam Adani Joins Elon Musk, Jeff Bezos In Unique $100 Billion Membership

Gautam Adani Joins Elon Musk, Jeff Bezos In Unique $100 Billion Membership


Gautam Adani is alsoexploring potential partnerships in Saudi Arabia

The centibillionaires membership has a brand new member: Gautam Adani. The Indian tycoon, whose empire consists of ports, mines and inexperienced power, is the newest whose fortune reached the $100 billion mark. Up virtually $24 billion this 12 months, he is the world’s largest gainer and joins 9 different members of the elite group. Fellow countryman Mukesh Ambani, whose internet value first topped that benchmark in October, has now dropped barely under it to $99 billion, in accordance with the Bloomberg Billionaires Index.

Adani’s ascent has been nothing wanting spectacular. The school dropout who first made a fortune within the coal trade has amassed virtually all of his wealth previously two years, because of a shift to inexperienced power and infrastructure that landed him investments from corporations together with France’s Complete SE and Warburg Pincus.

He is additionally although exploring potential partnerships in Saudi Arabia, together with the potential for shopping for a stake on the planet’s largest oil exporter, individuals with data of the matter stated.

His give attention to increasing in areas that Prime Minister Narendra Modi deems essential to nation-building and assembly the nation’s long-term financial targets is paying off: Some Adani Group shares have surged greater than 1,000% since 2020.

Whereas 2021 was a very good 12 months for the wealthy, with the world’s 500 wealthiest individuals added greater than $1 trillion to their mixed fortunes, Adani, 59, stood out. His internet value soared by $42.7 billion, one of many largest good points. In February he briefly grew to become Asia’s richest particular person, eclipsing Ambani.

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Adani and Ambani, 64, the chairman of oil-and-petrochemicals large Reliance Industries Ltd., reached the top of a wealth rating that is dominated by individuals who largely made their fortunes within the U.S. know-how sector. Like Adani, Ambani was capable of pivot his conglomerate to new industries — e-commerce and tech — getting billions of {dollars} in investments from backers together with Fb and Google.

Wealth creation has accelerated lately. In 2017, Amazon.com Inc.’s Jeff Bezos was the primary to hit the $100 billion milestone since Microsoft Corp. co-founder Invoice Gates again in 1999. Tesla Inc.’s Elon Musk, now the world’s richest particular person with a fortune of $273 billion, joined the group in 2020.

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