Adani’s takeover of Warren Buffett’s
Gautam Shantilal Adani, an Indian billionaire, became the fifth richest person in the world by beating the American industrialist, Warren Buffet. According to Forbes, Gautam Adani took over Warren’s place by increasing his wealth to around $123.7 billion. Meanwhile, the owner of Berkshire Hathaway, Warren Buffet, holds $121.7 billion.
Warren’s position went down due to the drop in investors’ share in Warren’s company. Berkshire Hathaway’s share price falls by 2%. Also, there was a huge drop in the stock market of the United States. This paved the way for Adani to become the fifth richest person in the world.
Adani and Ambani are the two richest people in India.
Gautam Adani secures first place in being the richest person in India. The second place is followed by the Reliance company Chairperson, Mukesh Ambani, who is expected to have $104.7 billion. Adani has 19 billion dollars compared to Ambani.
Gautam Adani becomes the centi-billionaire, by having a wealth over $100 billion. While, Ambani stands right behind him by securing $99 billion as of 245th of April, 2022.
Mukesh Ambani invests and capitalizes in petroleum products, retail, oil and gas, and telecom. whereas the Adani group of companies includes infrastructure, ports, airports, coal, renewable energy, mining, real estate, and many more.
Adani Group of Companies
The Adani company is one of the largest industries in India. The company’s presence dates back to 1988. The headquarters are located in Ahmedabad, Gujarat.
The Adani company has three main subsidiaries under them. Adani Wilmar for food processing, Adani Airport Holdings for airport operations, and Adani Road Transport for the development of roads. It has many more subsidiaries, such as Adani Green Energy, Adani Power, and many more.
Among these subsidiaries, the Adani Ports & SEZ (APSEZ) was awarded “India’s Container Port of the Year” in 2016. Furthermore, Adani Green Energy Limited has marked its presence in the global top 15 list of solar power developers in the year 2015.
Conclusion
The Indian industrialist, Adani, is only four places behind Elon Musk, the CEO of Tesla, who currently owns Twitter, the world’s richest man. The second spot is possessed by Jeff Bezos, the owner of Amazon, and the third is secured by Bernard Arnault & Family.
Published By – Supreeti Ghosh
