India Finance News

Gautam Adani is now world’s third richest person, surpasses Louis Vuitton’s Bernard Arnault | Mint – Mint

Indian billionaire Gautam Adani has overtaken France’s Bernard Arnault to become the world’s third richest person, according to the Bloomberg Billionaires Index. It’s the first time an Asian has broken into the top three of the Bloomberg Billionaires Index.

With a $137.4 billion fortune, Gautam Adani has overtaken France’s Bernard Arnault and now trails just Elon Musk and Jeff Bezos of the US in the ranking.

Bernard Jean Étienne Arnault is a French business magnate, investor, and art collector. He is the co-founder, chairman, and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.

With a $91.9 billion fortune Reliance Industries Ltd chairman Mukesh Ambani is at number 11 position.

Last month, the Indian billionaire replaced Bill Gates to become the world’s fourth-richest person as his net worth surged to $113 billion, surpassing the Microsoft Corporation co-founder by $230 million, according to the Bloomberg Billionaires Index.

Adani has added $60.9 billion to his fortune in 2022 alone, five times more than anyone else. He first overtook Mukesh Ambani as the richest Asian in February, became a centibillionaire in April and surpassed Microsoft Corp.’s Bill Gates as the world’s fourth-richest person last month.

Adani was able to move past some of the world’s richest US billionaires partly because they’ve recently boosted their philanthropy. Gates said in July he was transferring $20 billion to the Bill & Melinda Gates Foundation, while Warren Buffett has already donated more than $35 billion to the charity.

Adani, too, has increased his charitable giving, pledging in June to donate $7.7 billion for social causes to mark his 60th birthday. He hasn’t given any details yet.

Adani, 60, has spent the past few years expanding his coal-to-ports conglomerate, venturing into everything from data centers to cement, media and alumina. The group now owns India’s largest private-sector port and airport operator, city-gas distributor and coal miner.



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