Gautam Adani becomes second richest man in the world: Report – South Asia Time

Gautam Adani becomes second richest man in the world: Report

 September 16, 2022  

New Delhi — Billionaire tycoon Gautam Adani has now become the world’s second richest man, replacing Bernard Arnault by a whisker on the Forbes list. The Adani Group chairman’s net worth now stands at $155.5 billion ( ₹12.37 lakh crore).

According to the Forbes Real Time Billionaires List, Adani’s net worth rose by $5.2 billion, a hike of 3.49 per cent. He is narrowly ahead of French tycoon Bernard Arnault and Amazon founder Jeff Bezos. Tesla founder Elon Musk continues to occupy the top position in the rich list.

In the top 10 list, Reliance Industries chairman Mukesh Ambani is the second Indian with a net worth of $92.2 billion. The other billionaires in the top ten list include Bill Gates, Larry Ellison, Warren Buffett, Larry Page and Sergey Brin.

On 30 August, Adani had surpassed Louis Vitton boss Arnault to become the world’s third richest man. It was the first instance when an Asian was ranked among the top three billionaires.

The Adani Group’s kitchen essentials firm Adani Wilmar Ltd is now scouting for local and overseas acquisition targets to boost its food operations business, Bloomberg reported. The company’s chief executive officer and managing director Angshu Mallick told Bloomberg that the company is looking to acquire brands in staple foods and distribution companies to boost its consumer goods offering and reach.

Adani Wilmar has earmarked ₹500 crore from its initial public offering for the purchases. The additional funding will be sourced from internal accruals and the 30 billion rupees of planned capital expenditure for next year starting April, he said. The food company’s shares have more than tripled since its $486 million debut in February.

The announcement comes after Mukesh Ambani’s Reliance Industries announced its foray into FMCG business through its subsidiary Reliance Retail in August. ( From : The Hindustan Times )