Gautam Adani joins the $100 bn league

Founder of India’s Adani Group hits a net worth of $100 billion, putting him among the top 10 wealthiest people in the world

By Omar Abdel-Baqui

Apr. 4, 2022 11:20 am ET

India’s Gautam Adam has reached a net worth of $100 billion, according to the Bloomberg Billionaires index. He and nine other people, including Elon Musk and Jeff Bezos, currently have a net worth of at least $100 billion.

While establishing the exact net worth of the world’s wealthiest can be tricky, in part because many of their holdings are private, these rankings have often been a source of bragging rights among the world’s richest, including Mr. Musk and Mr. Bezos who have sparred at one another over their respective wealth.

Mr. Adani is founder and chairman of the Adani Group, a sprawling conglomerate with businesses in sectors such as energy, mining, real estate and agriculture.

Rising stock markets, particularly in India, over the past 12 months have helped drive Mr. Adani’s net worth sharply higher.

Adani Group is composed of seven publicly listed entities with a combined market capitalization of about $188 billion, according to the conglomerate. One of the publicly traded companies, Adani Enterprises Ltd., has risen more than 80% over the past 12 months.

Mr. Adani’s net worth topped $100 billion on Monday, up from $57 billion a year ago.

Mr. Musk tops the list with a net worth of $273 billion. Mr. Bezos is second at $188 billion. Frenchman Mr. Arnault and Mr. Adani and are the only non-Americans in the ranking’s top 10, all of whom are men.

The Bloomberg Billionaires Index measures personal wealth based on changes in markets, the economy and other reporting. Figures are updated every business day.

The top 10 have a combined net worth of $1.42 trillion.

Mr. Adani pushed India’s Mukesh Ambani—chairman of Reliance Industries Ltd., which engages in the energy and telecommunications sectors—off the ranking’s top 10 list. His net worth is $99 billion.

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