Gautam Adani, Asia’s richest billionaire posts most wealth gains of $21.5billion in 2022

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Gautam Adani, an Indian billionaire, appears to be impervious to the historic reduction in the value of many billionaires over the previous five months, despite heightened geopolitical uncertainty and hawkish central banks struggling to keep inflation under control.

According to data, the 59-year-old Asian has gained $21.6 billion in fortune this year, putting him at the top of the list of billionaires who have posted the most wealth gain so far in 2022.

With a net worth of $98.1 billion, Asia’s richest man can buy 53.4 million troy ounces of gold or 799 million barrels of crude oil.

What you should know

Adani is the founder of the Adani Group, India’s largest port operator. The infrastructure company, situated in Ahmedabad, India, is also the country’s largest thermal coal producer and trader. The group’s publicly traded trading house, Adani Enterprises.

• The group’s publicly traded trading house, Adani Enterprises, reported $5.3 billion in sales for the fiscal year ending March 31, 2021.
• TIME magazine has selected the Industrialist one of the 100 Most Influential People of 2022. “Adani’s formerly provincial firm now includes airports, private ports, solar and thermal power, and consumer goods,” according to his TIME biography.
• Adani Group has grown into a national giant in the world’s sixth-largest economy, despite Adani’s desire to remain anonymous while he builds his empire.
• According to Indian Express, the Adani Group is planning to invest in India’s largest independent aircraft maintenance, repair, and overhaul (MRO) company.
• Air Works serves IndiGo, GoAir, and Vistara in addition to over a dozen international airlines such as Lufthansa, Turkish Airlines, FlyDubai, Etihad, and Virgin Atlantic. It also has the Indian Navy as one of its clients.
• Air Works Group is the largest provider of transit or line maintenance services to foreign passenger and cargo carriers operating in India, with a presence across 19 international airports.