Gautam Adani now world's 3rd richest person, overtakes Louis Vuitton chief

Business conglomerate Adani Groups chairman Gautam Adani is now the worlds thirdrichest person after overtaking Frances Bernard Arnault according to Bloomberg Billionaires IndexWith a total net worth of USD 1374 billion 60yearold Adani has surpassed the wealth of Louis Vuitton chairman Arnault and is now just behind business magnate Elon Musk and Jeff Bezos in the rankingIn the latest Bloomberg Billionaires Index Reliance chief Mukesh Ambani is at number 11 with a total USD 919 billion worthThis is the first time an Asian person has broken into the top three of the Bloomberg Billionaires IndexAlso readAdani group to acquire 2918 per cent stake in NDTV launches open offerThe index is a daily ranking of the worlds richest people Details about the calculations are provided in the net worth analysis on each billionaires profile page The figures are updated at the close of every trading day in New YorkThe net worth of Elon Musk and Jeff Bezos are currently at USD 251 billion and USD 153 billion respectivelyAdani is a firstgeneration entrepreneur and the Adani Group comprises of 7 publicly listed entities with businesses spanning energy ports and logistics mining and resources gas defence and aerospace and airports In each of its business areas the Group has established a leadership position in IndiaThe Adani Group is the third largest conglomerate after Reliance Industries and the Tata Group in IndiaListed Adani group companies are Adani Enterprises Adani Green Energy Adani Ports and Special Economic Zone Adani Power Adani Total Gas and Adani TransmissionOver the past 5 years flagship company Adani Enterprises has invested heavily in new growth sectors that include airports cement copper refining data centres green hydrogen petrochemical refining roads and solar cell manufacturingLooking ahead it plans to foray into the telecom space and has massive plans to grow its green hydrogen and airports businessesRecently the Group also announced plans to set up a 41 mtpa integrated alumina refinery and a 30 mtpa iron ore beneficiation plant in Odisha that could cost over Rs 580 billionAs corporate social responsibility towards the community the Adani Group had decided to contribute Rs 60000 crore towards charitable activities related to healthcare education and skill development focussing especially on rural India he told shareholders at the groups Annual General Meeting held in late JulyThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever