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The Indian Gautam Adani joins Elon Musk and Warren Buffett in the club of centibilliardaires


New Delhi
CNN Business

Indian Gautam Adani has joined what is probably the most prestigious club in the world.

The infrastructure tycoon’s wealth hit $100 billion over the weekend, according to the Bloomberg Billionaires Index, making him the richest person in Asia. He joins nine other men in the club of centibillionaires, including Elon Musk, CEO of Tesla (TSLA), Jeff Bezos, founder of Amazon (AMZN) and Warren Buffett, chairman of Berkshire Hathaway (BRKA).

French businessman Bernard Arnault – the chairman of luxury goods group LVMH (LVMH) – and Adani are the only non-Americans with fortunes worth at least $100 billion.

As stock markets boomed around the world during the pandemic, many billionaires saw their wealth skyrocket, but Adani’s earnings were outstanding.

The 59-year-old Adani Group founder controls companies ranging from ports and aerospace to thermal power and coal, and has seen his fortune soar by nearly $90 billion in the past two years .

Shares of some Adani companies have jumped more than 1,000% since June 2020, a sign that investors are optimistic about the billionaire industrialist ability to leverage sectors such as infrastructure and renewable energy, which are key to Prime Minister Narendra Modi’s economic development goals.

Adani is now the 10th richest man in the world, just ahead of fellow countryman Mukesh Ambani, who is worth $99 billion, according to Bloomberg.

Ambani, which controls Reliance Industries, has also shifted its focus from oil to new areas such as green energy and technology.

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