Subhechcha Ganguly 
According to the most recent Bloomberg Billionaires data, Gautam Adani has moved up to third place in the world’s wealth rankings. The 60-year-old business tycoon is third on the list after Elon Musk and Jeff Bezos, with a net worth of $137 billion. By defeating French business tycoon Bernard Arnault, the co-founder of luxury label Louis Vuitton, Adani accomplished this feat for the first time. Gautam Adani’s wealth, which was measured by the Bloomberg Billionaires Index, was $137 billion, drawing him ever-closer to Jeff Bezos’s wealth of $153 billion. Adani, however, is still $114 billion behind Elon Musk, whose net worth is $251 billion.
Adani is also the biggest gainer in 2022, increasing his wealth by $61 billion. In contrast, Bezos lost $39 billion, Musk $19 billion, and Mukesh Ambani $2 billion during the same time period.With the announcement that the Adani firms are planning to buy 29 percent stakes in NDTV, one of India’s top news networks, the massive conglomerate made headlines last week.
Concerns about ambiguous shareholder structures and a dearth of analyst coverage at Adani Group companies have also been voiced by some lawmakers and market observers. However, as the tycoon concentrated on areas that Prime Minister Narendra Modi views as essential to achieving India’s long-term goals, the shares have soared—some of them by more than 1,000% since 2020, with valuations reaching 750 times earnings.
By Subhechcha Ganguly
