Gautam Adani, the chairman of business behemoth Adani Group, surpassed Bernard Arnault of France to become the third-richest person in the world, according to Bloomberg Billionaires Index.
Adani, 60, now ranks just below business moguls Elon Musk and Jeff Bezos in terms of fortune, with a total net worth of $137.4 billion, surpassing that of Louis Vuitton chairman Arnault.
With a total wealth of $91.9 billion, Mukesh Ambani, the CEO of Reliance, is ranked 11th in the most recent Bloomberg Billionaires Index.
The Bloomberg Billionaires Index's top three richest individuals are all Asian for the first time. The Adani Group, which includes seven publicly listed companies with interests in energy, ports and logistics, mining and resources, gas, defence and aerospace, and airports, is run by Adani, a first-generation entrepreneur.
In its respective business sectors, the group has developed a dominant position in India. The Adani Group is India's third largest conglomerate (after Reliance Industries and the Tata Group).
Listed Adani group companies are Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Power, Adani Total Gas, and Adani Transmission.
Over the past five years, flagship company Adani Enterprises has invested heavily in new growth sectors, including airports, cement, copper refining, data centres, green hydrogen, petrochemical refining, roads and solar cell manufacturing.
In the near future, it intends to enter the communications industry and has ambitious growth goals for both its green hydrogen and airports sectors.
The business has revealed plans to build two facilities in Odisha that might cost over 580 billion dollars each: a 4.1 mtpa integrated alumina refinery and a 30 mtpa iron ore beneficiation facility.
It has big growth plans for both its green hydrogen and airports industries and plans to enter the communications market soon. The company intends to develop a 30 mtpa iron ore beneficiation complex and a 4.1 mtpa integrated alumina refinery in Odisha, all of which might cost more than 580 billion dollars to construct.
The index lists the richest persons in the world on a daily basis. The net worth study on each billionaire's profile page includes specifics on the calculations. At the conclusion of each trading day in New York, the numbers are updated. Elon Musk and Jeff Bezos each have a net worth of $251 billion and $153 billion, respectively, as of this writing.