Gautam Adani has become the world’s busiest dealmaker: Bloomberg 50 Report

Gautam Adani began his career as a diamond trader in Mumbai before making his wealth in ports and mines.

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Gautam Adani has topped the list of those whose fortune has increased the most globally this year. Adani, who is already the world’s third richest person, was named in the ‘Sixth Bloomberg 50’ list, which looks at persons in industry, politics, science and technology, finance, and entertainment whose efforts deserve acknowledgment. Gautam Adani, 60, is the world’s third wealthiest person, with a net worth of $134 billion and holdings ranging from Australian coal mines to India’s largest ports.

His personal wealth has increased by $49 billion this year, putting him ahead of Bill Gates and Warren Buffett. Adani is developing his infrastructure firm, which now has a net worth of $125.5 billion, surpassing Jeff Bezos. He’s been the busiest dealmaker this year, paying $10 billion for Swiss cement major Holcim Ltd.’s India businesses.

“The Indian tycoon’s wealth has surged more than anyone else’s this year, making him the world’s third-richest person behind Bernard Arnault and Elon Musk,” it said on December 14.

Adani, a first-generation entrepreneur who left out of college, began as a diamond merchant in Mumbai and made his money mostly in ports, renewable energy, and logistics.

According to Bloomberg, Adani’s wealth has increased by USD 49 billion, putting him ahead of billionaires such as Bill Gates and Warren Buffet.

Adani Green Energy Limited (AGEL) has already become the world’s largest generator of solar energy and is rapidly expanding into other forms of renewable energy generation.

While Adani has become the largest Indian company by market capitalization, he is also at the forefront of humanitarian initiatives.

Adani Enterprises has announced plans to raise $2.45 billion through a follow-on public offering, which is expected to be India’s largest ever, subject to regulatory approval. His large bets – in cement and renewable energy, as well as airports and an expanded mining industry – have been financed with massive amounts of debt.

The new funds will be critical in decreasing debt and fueling additional commercial expansion for the flagship organisation, whose shares have increased roughly 1,000% in the last two years.