August18 , 2022

Gautam Adani adds more wealth than anyone else in the world, this year

Related

Business News LIVE Today: Latest Business News, Share Market News, Economy & Finance News

Search Quotes, News, Mutual Fund NAVs Tata Steel INE081A01020, TATASTEEL,...

Business News LIVE Today: Latest Business News, Share Market News, Economy & Finance News

Search Quotes, News, Mutual Fund NAVs Tata Steel INE081A01020, TATASTEEL,...

Why Apple and Amazon results are important

Apple and Amazon added about $175 billion to...

Business News LIVE Today: Latest Business News, Share Market News, Economy & Finance News

Search Quotes, News, Mutual Fund NAVs Tata Steel INE081A01020, TATASTEEL,...

Share

[ad_1]

Indian billionaire Gautam Adani this week replaced Bill Gates to become the world’s fourth-richest person as his net worth surged to $113 billion, surpassing the Microsoft Corporation co-founder by $230 million, according to the Bloomberg Billionaires Index. The Indian tycoon has added $36 billion to his fortune this year, more than anyone else, while Gates’s has shrunk as he sped up philanthropic giving and also amid tech shares sell-off.

Bill Gates last week said he is donating $20 billion to the Bill & Melinda Gates Foundation this month as the philanthropic behemoth plans to speed up its pace of giving. “I hope by giving more, we can mitigate some of the suffering people are facing right now and help fulfill the foundation’s vision to give every person the chance to live a healthy and productive life,” Gates said in a statement. 

Gautam Adani now also holds the fourth rank on the Forbes world’s richest list, surpassing Microsoft founder Bill Gates who last week said that he would be donating $20 billion from his wealth to his non-profit. Following the donation, Bill Gates has slipped just one spot to be the fifth richest in the world.

Indian conglomerate Adani Group’s chairman’s wealth has more than doubled since early 2021. Adani, an infrastructure tycoon, owns stakes in companies that bear his name and operate in power, green energy, gas, ports and more. Adani wants to be the world’s largest producer of green energy and has said he will invest upto $70 billion on renewable energy projects.

Adani has also increased his charitable giving. In June, to mark his 60th birthday, he pledged to donate 60,000 crore ($7.7 billion) to a variety of social causes. The donation will be managed by the Adani Foundation for bolstering health care, education and skill development. 

In February this year, Adani overtook fellow countryman Ambani to take Asia’s richest spot on the back of the jump his personal fortune, which made him world’s biggest wealth-gainer this year. He became a centibillionaire in April, joining the elite club that includes people Elon Musk and Jeff Bezos.

(With inputs from Bloomberg)

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

[ad_2]

Source link