Amazon’s Jeff Bezos dethroned as world’s second richest person by India’s Gautam Adani
- Gautam Adani’s fortune of US$146.9 billion surpassed Jeff Bezos’ net worth of US$145.8 billion to become the world’s second-richest person
- In February, Adani became the richest Asian person, and has passed Bill Gates and Bernard Arnault in net worth
Jeff Bezos lost his title as world’s second-richest person on Friday to Indian industrialist Gautam Adani.
Adani’s fortune is now worth US$146.9 billion, while Bezos’s net worth dropped to US$145.8 billion today, according to Bloomberg.
In February, Adani, the founder and chairman of Adani Group, became Asia’s richest person, surpassing fellow Indian businessman Mukesh Ambani. Adani joined the centibillionaire’s club when his wealth hit US$122 billion in April and he passed Warren Buffett and Larry Page. And in recent months, Adani also passed Bill Gates and Bernard Arnault on the billionaires list.
From college dropout to business tycoon
After dropping out of college at Gujarat University where he was studying commerce, Adani became a diamond sorter in Mumbai, Business Today reported.
He managed his brother’s plastic company, helping him import PVC, and in 1988 eventually established the flagship for Adani Group, Adani Enterprises.
Aside from successful business ventures, Adani has survived two dangerous situations.
Ten years after Adani Enterprises was established, Adani claimed he and his companion, Shantilal Patel, were kidnapped by a group of men in 1998. The men were acquitted in 2005 because the case lacked evidence. Times Now India reported that another two men were acquitted in 2018 because prosecutors could not find a connection between them and Adani’s kidnapping.
He was also caught up in the 2008 Mumbai terrorist attacks when militants took over the Taj Mahal Hotel where he was dining. Adani hid in the hotel basement.
Now, Adani owns the largest commercial port in India, and has a majority stake in Mumbai Airport. Adani Group comprises seven publicly-traded companies, including Adani Green Energy Ltd and Adani Total Gas Ltd. As of September 16, 2022, Adani Group has a market cap of over US$258.44 billion.
As second-richest person, Adani is only behind Elon Musk, who is worth US$264 billion, according to the Bloomberg Billionaires Index.