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

Gautam Adani has had an excellent yr.

The Indian billionaire briefly surpassed Amazon founder Jeff Bezos to develop into the second-richest particular person on the planet in September, according to Bloomberg. He is now ranked because the world’s fourth wealthiest particular person.

Outdoors Southeast Asia, Adani is hardly a family identify. That may be altering now that he is richer than Microsoft founder Invoice Gates and iconic investor Warren Buffett.

“The form of rise that you’ve got seen is really phenomenal and possibly unprecedented on the planet that in such a short while a single particular person has been capable of purchase belongings throughout industrial sectors and has emerged as one of many largest billionaires on the planet,” stated Hemindra Hazari, an impartial analysis analyst primarily based in Mumbai, India.

Coming from a middle-class household background, Adani started his entrepreneurial journey within the nation’s monetary capital, Mumbai, as a diamond sorter within the late Nineteen Seventies. Adani is now chair of the Adani Group, one of many three largest industrial conglomerates in India.

Adani’s firm representatives didn’t reply to a number of requests for remark from CNBC.

Why is Adani’s wealth on the rise? Watch the video above to be taught extra about how Adani’s political connections could have boosted the success of his many firms. 

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