Adani Group chairman Gautam Adani surpassed LVMH chairman and CEO Bernard Arnault Friday and is now the world's second-richest person with a net worth of $155.5 billion on Forbes’ Real-Time billionaire rankings,
Adani is now the world's second-richest person with a net worth of $155.5 billion on Forbes’ Real-Time billionaire rankings, increasing $5.2 billion or 3.49% from yesterday.
Adani has also overtaken Amazon chairman and founder Jeff Bezos whose fortune dropped $2.3 billion or 1.49% to $149.7 billion.
Adani owns stakes in six publicly traded companies that operate in ports, airports, green energy, data centers, and more.
Adani became Asia’s richest person in February this year when he overtook fellow Indian billionaire Mukesh Ambani, whose current net worth of $93.4 places him at No. 8 in the world rankings.
Shares of Adani’s conglomerate Adani Enterprises are surging and hit an all-time high yesterday of 3,749.15 rupees ($46) per share, more than double from a year ago.
The group is in the throes of completing its $10.5 billion acquisition of the Indian arm of Swiss cement manufacturer Holcim Group.
Last month, Adani's media unit mounted a hostile bid to acquire New Delhi Television (NDTV), a broadcaster that is seen as being anti-governement.
Adani Group’s AMG Media Networks (AMNL) bought Vishvapradhan Commercial for 1.14 billion rupees ($14.3 million), giving it a 29.2% stake in NDTV.
Renewable energy is another big play: Adani’s utility firm Adani New Industries has announced it will invest more than $50 billion in developing green energy over the next 10 years.