Indian Billionaire Gautam Adani Becomes Asia’s Richest Person

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Gautam Adani, an Indian businessman has been named as the richest person in Asia. His worth is $90.1 billion. And he is the 19th richest person in the World as well. Forbes report claimed this quoting Forbes’ Real-Time Billionaire calculations data by (Feb/03/2022) Thursday.

He could keep a narrow gap ahead from Indian billionaire Mukesh Ambani, head of Reliance Industries, worth just $100 million less at $90 billion, Forbes estimates. Reliance head Mr Ambani held the place of richest Asian billionaire.

Mr Gautam Adani, (age 59) is a college dropout who started a small “commodity export firm” in 1988 when he was just 26 years old. The first time, He appeared on Forbes’ list of the World’s Billionaires was in 2008 when his worth $9.3 billion.  His Adani Group includes set of a mix of businesses ranging from generating power and transmissions to edible oil to real estate and coal. The group is handling six listed companies in India. The most valuable company is Adani Green Energy Ltd which is shares have soared by 77% just alone last year.

Despite the Pandemic situation, Adani’s net worth has nearly doubled from $50.5 billion by April 2021 when Forbes released its annual World’s Billionaires list and He was sitting as second in Asia just next to Ambani. Meanwhile, Shares of Ambani’s Reliance Industries, which has crude oil and their by-products: petrochemicals, retail and telecommunication services, fell 1.47% on Thursday and are down 2.3% so far in 2022. 

The Western Indian state of Gujarat is the origin of Adani and the same state where the Mahathma Gandi come from. It’s said that he has been dropped out of college and founded Adani Enterprises as a small starter commodities exporter in 1988. He eventually managed to expand his roots in his businesses into managing ports, power generation and solar power and many more.

Adani Group’s growth appears to have been backed by India’s PM Narendra Modi policies. Narendra Sri Modi was the chief minister o0f Gujarat state prior to becoming Indian Prime Minister. According to the report Forbes during the year 2014, Modi was a special guest at Adani’s son’s wedding. Meanwhile, in September 2020,  Adani Group acquired a 74% stake in Mumbai International Airport, India’s second busiest which serve as India’s commercial capital. Not only that, the Adani group secured the deepest commercial shipping jetty development project in South Asia at Western Terminal – Colombo Port, Sri Lanka.

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