How Gautam Adani became the world’s fourth richest person while billionaires like Jeff Bezos lost tens of billions

1 min


210
149 shares, 210 points

Gautam Adani has had a very good year.

The Indian billionaire briefly surpassed Amazon founder Jeff Bezos to become the second-richest person in the world in September, according to Bloomberg. He’s now ranked as the world’s fourth wealthiest person.

Outside Southeast Asia, Adani is hardly a household name. That might be changing now that he’s richer than Microsoft founder Bill Gates and iconic investor Warren Buffett.

“The kind of rise that you have seen is truly phenomenal and probably unprecedented in the world that in such a short time a single individual has been able to acquire assets across industrial sectors and has emerged as one of the largest billionaires in the world,” said Hemindra Hazari, an independent research analyst based in Mumbai, India.

Coming from a middle-class family background, Adani began his entrepreneurial journey in the country’s financial capital, Mumbai, as a diamond sorter in the late 1970s. Adani is now chair of the Adani Group, one of the three largest industrial conglomerates in India.

Adani’s company representatives did not respond to several requests for comment from CNBC.

Why is Adani’s wealth on the rise? Watch the video above to learn more about how Adani’s political connections may have boosted the success of his many companies. 

Source: CNBC


Like it? Share with your friends!

210
149 shares, 210 points

What's Your Reaction?

Cute Cute
2
Cute
Fun Fun
21
Fun
Hate Hate
16
Hate
Confused Confused
5
Confused
Fail Fail
24
Fail
Geeky Geeky
18
Geeky
Love Love
10
Love
OMG OMG
5
OMG
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format