Billionaire Gautam Adani has become Asia’s second richest person by surpassing Chinese billionaire Zong Shanshan, according to the Bloomberg Billionaires Index.
Gautam Adani is the chairman and founder of the Adani Group.
The net worth of Adani Group is 66.5 billion dollars while Zhong Shanshan’s is 63.6 billion dollars, according to the index.
In terms of the most wealth owned by a person in Asia, Gautam Adani now trails behind only Mukesh Ambani, the chairman of Reliance Industries Limited (RIL).
Mukesh Ambani surpassed Shanshan in February this year and became Asia’s richest man.
The RIL chairman also ranks first among India’s wealthiest people.
Billionaire Shanshan, the founder and chairman of Nongfu Spring and the majority owner of Beijing Wantai Biological Pharmacy Enterprise, was once the sixth richest man in the world.
Ambani and Adani are currently placed on the 13th and 14th position respectively, in the global billionaires’ list of Bloomberg.
Ambani’s wealth has marginally decreased by 175.5 million dollars while Adani’s net worth has increased by 32.7 billion dollars in the past year, according to the index.
The net worth of Ambani stood at 76.5 billion dollars.
Gautam Adani started as a commodities trader in the late 1980s.
In the last two decades, Adani has built an empire that now spans from mines, ports and power plants to airports, data centre, city gas and defence.
Adani Group became the third group in India to cross 100 billion dollars in the market capitalization in April.
Adani Group has gained the control of 7 airports and almost a quarter of India’s air traffic in the last two years.
Billionaire Gautam Adani-led Adani Enterprises has signed a concession agreement with Airports Authority of India (AAI) for operating and maintaining Jaipur, Guwahati, Thiruvananthapuram airports.
The concession period is 50 years from the commercial operation date for the operations, management and development of these airports.
The group has won a contract to co-develop a port terminal in Sri Lanka and bought ports in India.
Adani Ports reportedly controls 30% of the nation’s port industry and has French energy giant Total as a partner in its renewable energy and city gas distribution business.
Meanwhile, Adani Green has a target of 25 gigawatts of renewable capacity by 2025.