Indian billionaire who bought Haifa Port ranks world’s 3rd richest man

i24NEWS - AFP

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Indian industrialist Gautam Adani speaks during a press conference in Ahmedabad, India, on December 23, 2010.
Sam PANTHAKY (AFP)Indian industrialist Gautam Adani speaks during a press conference in Ahmedabad, India, on December 23, 2010.

It is the first time an Asian businessman was ranked in the top three

Indian industrialist Gautam Adani became the world's third-richest person on the Bloomberg Billionaires Index on Tuesday.

The self-made billionaire has seen his net worth more than double to $137.4 billion in the last year, rising 20 spots on the index to now rank just behind Elon Musk and Jeff Bezos.

Adani, 60, made his fortune in ports and commodities trading and now operates India's third-largest conglomerate with interests ranging from coal mining and edible oils to airports and news media.

Shares in the flagship Adani Enterprises - of which the billionaire owns 75 percent - have soared more than 2,400 percent since March 2020 and doubled in value in the past six months. Stock price surges in other group companies including Adani Transmission, Adani Power, Adani Ports and Adani Green Energy have catapulted Adani past fellow Indian billionaire Mukesh Ambani.

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Earlier in July, Adani Ports and Israeli minority partner Gadot agreed to buy Haifa Port for $1.18 billion. Following the announcement of the agreement Adani said on Twitter that the deal was of “immense strategic and historical significance.”

His company is betting on the port to become a link to Europe and create new trade lanes with Asia. Haifa Port is Israel’s leading deep water trade hub, located on the Mediterranean coast. It handled nearly half of the country’s freight volume in 2021.

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