Chairman of Adani group, Gautam Adani net worth raises to $100 billion

Gautam Adani, the chairman of Adani Group, has overtaken Reliance Industries CMD Mukesh Ambani to become the richest Indian with a net worth of $100 billion, according to Bloomberg Billionaires Index.

With this, Adani has also joined the centibillionaires club. A person with a net worth of $100 billion or above is called a centibillionaire.

Adani is at 10th position in the Index, while Ambani is just behind him at 11th position with a net worth of $99 billion. Adani has added $23.5 billion to his net worth year-to-date (YTD), the highest in the list. Meanwhile, Ambani added $9.03 billion to his net worth in the same period.

Adani, who heads the Adani Group which has presence in ports, energy and utlilities, logistics, airports, among others, has seen a huge increase in his net worth in the last few years. He is locked in a battle with Ambani to be the richest Indian, with one overtaking the other in the list from time-to-time.

Both the industrialists are betting big on green and renewable energy, in consonance with Prime Minister Narendra Modi’s vision for India. Last year, Ambani announced that Reliance Industries would invest Rs 75,000 crore in the new energy business over the next three years. Since then, his company has gone on to make many acquisitions in the area.

Adani also declared last year that his group, which already has a presence in renewable energy, would invest $20 billion in renewable energy generation, component manufacturing, transmission and distribution over the next decade.

Meanwhile, Tesla’s Elon Musk continues to be the richest men in the world with a net worth of $273 billion, followed by Amazon’s Jeff Bezos at the second spot with $188 billion of net worth. LVMH owner Bernard Arnault is on the third spot ($148 billion), while Microsoft co-founder Bill Gates is on the fourth spot ($133 billion), as per Bloomberg Billionaires Index.