Gautum Adani made $52b this year, now he is richer than Bill Gates

Most recently, he’s been exploring potential partnerships with Aramco, including the possibility of buying a stake in the Saudi petroleum giant, acquired Holcim’s cement businesses in India for $US10.5 billion, and signed a pact with South Korea’s steel producer Posco to explore business opportunities. In April, Adani Enterprises, the group’s flagship firm, said it had established a new media subsidiary, signaling its ambitions to tap the fast-growing local entertainment market.

His ascent coincided with a philanthropic boost by some of the world’s richest people. Gates said earlier this month that he’s sending $US20 billion to his foundation, which would more than cover the $US15 billion he and his ex-wife promised in 2021. Last year’s pledge was accounted for in the wealth index when he made the announcement, and $US5 billion more was added to that liability for the new promise, dropping Gates’s net worth to just below Adani’s.

Warren Buffett, who’s fallen to No. 7 on the ranking, has donated more than $35 billion to the charity, including $US3.1 billion in June alone.

Adani has also increased its charitable giving. In June, to mark his 60th birthday, he pledged to donate $US7.7 billion to a variety of social causes.

Bloomberg

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