Adani outranks Louis Vuitton’s Bernard Arnault to become the third-richest person in the world today

Gautam Adani has passed Bernard Arnault of France in the ranking, and now only Elon Musk and Jeff Bezos of the US are ahead of him with fortunes totaling $137.4 billion.

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According to the Bloomberg Billionaires Index, French billionaire Bernard Arnault has been surpassed by Indian billionaire Gautam Adani to move up to third place globally. It’s the first time an Asian has entered the Bloomberg Billionaires Index’s top three.

Gautam Adani has surpassed Bernard Arnault of France in the ranking, and now only Elon Musk and Jeff Bezos of the US are ahead of him with fortunes totaling $137.4 billion.

French tycoon Bernard Jean Étienne Arnault is also an investor and art collector. He is a co-founder, chairman, and CEO of the largest luxury goods firm in the world, LVMH Mot Hennessy – Louis Vuitton SE.

Mukesh Ambani, chairman of Reliance Industries Ltd., comes in at number 11 with a $91.9 billion wealth.

According to the Bloomberg Billionaires Index, the Indian billionaire overtook Bill Gates last month to move up to the fourth-richest position in the world as his net worth increased to $113 billion, overtaking the co-founder of Microsoft Corporation by $230 million.

Adani has increased his wealth by $60.9 billion in 2022 alone, five times more than any other person. He initially eclipsed Mukesh Ambani as the wealthiest Asian in February, achieved millionaire status in April, and last month passed Bill Gates of Microsoft Corp. to become the fourth-richest person in the world.

Due in part to their recent increase in generosity, some of the richest US billionaires have allowed Adani to surpass them in wealth. While Warren Buffett has previously given the Bill & Melinda Gates Foundation more than $35 billion, Bill Gates said in July that he would transfer $20 billion to the organisation.

Adani, who turned 60 in June, also expanded his charitable giving, promising to donate $7.7 billion to support social initiatives. He hasn’t yet provided any information.

The 60-year-old Adani has invested the last five years in growing his coal-to-ports conglomerate by foraying into a variety of industries, including data centres, cement, media, and alumina. The group today controls the largest private-sector coal miner, city-gas distributor, and operator of ports and airports in India.