Gautam Adani Becomes 14th Richest Person in The World, Second Richest In Asia » - IPS BUSINESS SCHOOL

Gautam Adani Becomes 14th Richest Person in The World, Second Richest In Asia

Gautam Adani Becomes 14th Richest Person in The World, Second Richest In Asia

Billionaire Gautam Adani, founder and promoter of Adani Group, became the world's 14th richest person and second richest in Asia after he replaced Chinese billionaire Zhong Shanshan on the Bloomberg Billionaire's index. Mr Adani, with net worth of $67.8 billion is the country's second richest after Mukesh Ambani, Chairman and Managing Director of Reliance Industries who has net worth of $76.3 billion, according to Bloomberg Billionaires index. Year to date, Mr Adani's net worth has soared by 100 per cent or $33.8 billion.

Mr Adani founded Adani Ports and Special Economic Zone (APSEZ), which is the country's largest private port operator. Adani Enterprises, the group's listed trading house, reported revenue of $6.1 billion in the year to March 31, 2020, according to Bloomberg.

In a move to strengthen its ports business, Adani Ports recently acquired private ports on the eastern coast of the country. Adani Ports acquired Krishnapatnam Port and Gangavaram Port in Andhra Pradesh.

Port-to-energy conglomerate Adani Ports and Special Economic Zones or APSEZ reported a 285 per cent growth - a quadruple jump in net profit at ₹ 1,287.81 crore in the January-March quarter of the financial year 2020-21, compared to ₹ 334.39 in the corresponding quarter last year.

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