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Gautam Adani makes history, becomes second richest person in the world, now only Elon Musk is ahead, know where the money is coming from News Jani

Gautam Adani makes history, becomes second richest person in the world, now only Elon Musk is ahead, know where the money is coming from

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New Delhi. World’s second richest man: Gautam Adani has become the second richest man in the world. Now in the list of top 10 billionaires in the world, Elon Musk is now followed by Gautam Adani. Gautam Adani has overtaken Bernard Arnault to take the top spot in the Forbes Real-Time Billionaires Index. However, he is still ranked third in the Bloomberg Billionaires Index.

As of this afternoon, Adani’s wealth has grown by $5.5 billion, according to the Forbes Real-Time Billionaires Index. He is now the world’s second billionaire with $155.7 billion. On top of them is Elon Musk, who has a net worth of $273.5 billion. After Adani, Bernard Arnault is third with a net worth of $155.2 billion. If we talk about Reliance Chairman Mukesh Ambani, he is at the eighth position in this list with $92.6 billion.

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Where is Adani’s money coming from?
The bulk of Adani’s wealth comes from its public stake in the Adani Group from which it was founded. As of a March 2022 stock exchange filing, he holds 75% stake in Adani Enterprises, Adani Power and Adani Transmission. They own about 37% of Adani Total Gas, 65% of Adani Ports and Special Economic Zones and 61% of Adani Green Energy. All these companies are publicly traded and domiciled in Ahmedabad.

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The story of Adani
According to Bloomberg, Adani is the largest port operator, thermal coal producer and coal trader in India. Gautam Adani was born in Gujarat. He moved to Mumbai as a teenager after dropping out of college and worked in the diamond business before returning to his home state.

He started his global business by importing polyvinyl chloride (PVC) for his brother’s plastics business. In 1988, he established Adani Enterprises, the group’s flagship company for import and export of goods.

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The second richest person in the world

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Adani Enterprises received approval from the Gujarat government in 1994 to set up a port facility at Mundra Port to handle its cargo. Seeing the potential in the project, Adani decided to convert it into a commercial port. He personally negotiated with over 500 landowners across India to establish rail and road connectivity to build the largest port in India. Adani ventured into power generation in 2009.

According to Mundra Port’s website, billionaire Adani was kidnapped by bandits for ransom in 1997. According to the website, Adani was among the hostages at the Taj Hotel when terrorists attacked Mumbai.

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Milestones in taking Adani to this milestone

  • Gautam Adani was born in 1962 in Ahmedabad in the western state of Gujarat, India.
  • Worked as a diamond merchant in Mumbai in 1980.
  • Returned to Ahmedabad in 1981 to help his brother in a plastic factory.
  • Established its flagship company Adani Enterprises in 1988.
  • In 1994, obtained approval to set up a port at Mundra to handle his company’s cargo.
  • In 1997, Adani was kidnapped and held hostage.
  • Mundra Ports and Special Economic Zone started business in India in 2007.
  • He narrowly escaped the 2008 attack on Mumbai’s Taj Hotel.
  • Adani Power started operations in India in 2009.

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