He becomes first Asian person to break into the top three of world’s wealthy
The Indian tycoon Gautam Adani has been named the world’s third richest person with an estimated $137bn and becomes the first Asian person to break into the top three of world’s wealthy.
Adani took the third spot after leapfrogging Bernard Arnault.
The only people richer than Adani are Tesla boss Elon Musk with an estimated $251bn fortune and Amazon’s Jeff Bezos with $153bn.
India’s second-richest man, Reliance Industries chief Mukesh Ambani, is at number 11 in the world rankings, with total wealth of $91.9 billion (over Rs 7.3 lakh crore).
The Adani Group’s seven publicly traded companies are Adani Enterprises, Adani Wilmar, Adani Ports, Adani Green Energy, Adani Transmission, Adani Total Gas, Adani Power.
According to recently released Fitch report this expansion is being predominantly funded with debt that has put pressure on credit metrics and cash flow. In the worst-case scenario, Adani could fall into a debt trap and default, the report had warned.
Comentarios