Gautam Adani, an Indian industrialist, world’s 2nd richest person.

Introduce yourself to Gautam Adani. His $152.2 billion fortune makes him wealthier than Amazon founder Jeff Bezos, but not as wealthy as Elon Musk.

According to Bloomberg’s Billionaire Index, Indian business entrepreneur Gautam Adani has surpassed Amazon founder Jeff Bezos to become the world’s second-richest person, with an estimated $146.8 billion wealth.

According to Bloomberg, Adani is the first Asian to rank in the top three of the index, having risen to third position last month. With an estimated $263.9 billion, Elon Musk is the world’s richest person.

This year, the founder and head of India’s Adani Group industrial giant saw considerable and rapid development in his fortune, overtaking fellow Indian businessman Mukesh Ambani, Bill Gates, and Warren Buffet on the index. According to Bloomberg, the business mogul began 2022 at 14th place on the chart and rose to second place in two months.

According to Bloomberg, Adani’s fortune has grown by $60.9 billion this year alone, while others on the list have lost money. According to the Associated Press, Bill Gates, who is now ranked fifth on the list, committed $20 billion to the Bill and Melinda Gates Foundation in July. According to the Associated Press, Warren Buffett (No. 6 on the list) has already donated more than $30 billion to the Gates Foundation.

When Amazon shares fell due to new inflation data on Tuesday, Jeff Bezos’ fortune fell, allowing Adani to pass him on the billionaire’s index.

Adani, a college dropout, amassed his fortune in the coal industry and currently owns seven publicly traded companies under the Adani Group in sectors such as energy, mining, airports, and military. Environmentalists have criticised the mogul’s mining operations, but he dedicated $70 billion to green energy last year, making the Adani Group the world’s largest renewable-energy generator, according to Bloomberg.

Here’s what you need to know about Adani:

WHAT TO KNOW

• How did Adani’s wealth rise so fast?

Adani’s network of firms’ shares have surged this year as energy prices have risen and he has put billions into establishing a foothold in renewable energy. Despite Adani’s promises to spend extensively in green energy, in line with Prime Minister Narendra Modi’s call to transform India into a hub for new sorts of fuel, Bloomberg reports that much of the conglomerate’s earnings comes from fossil fuels, prompting accusations of “greenwashing.”

Adani’s riches has risen in a matter of months as energy demand rose and investors flocked to his firms. He became Asia’s richest person in February. Adani, who began the year at 14 on the Bloomberg Billionaires Index, has more than doubled his net worth, leapfrogging such top-tier billionaires as Bill Gates.

• What is Adani’s background?

Adani’s empire began in the 1980s with a plastics importation firm, then expanded into port operations and global trade. His conglomerate’s commercial groups continued to develop, with units managing airports, mining coal, and distributing city gas networks.

Adani Enterprises, the flagship firm, hit an all-time high Thursday, more than tripling in value since the start of the year, to more than $52 billion. And Adani Power, the power producing business, has nearly doubled in value since the beginning of 2022.

One of his most recent projects is a $70 billion investment in clean energy. “Cooling down the globe — fairly — is vital and can be one of the most successful industries over the next several decades,” Adani told a news conference.

• Who else is on the list?

Musk is the richest person in the world. He co-founded six businesses, including the electric vehicle producer Tesla and the rocket company SpaceX.

Arnault is the co-founder and CEO of the LVMH group, which includes the brands Louis Vuitton, Christian Dior, Sephora, Dom Pérignon, and Fenty Beauty by Rihanna.

Bezos is best known for Amazon, the tech juggernaut whose operations encompass e-commerce, cloud computing, streaming, and more. His reign as the world’s richest man ended after Musk was enriched by Tesla’s amazing stock run in 2020. He also owns Blue Origin, an aerospace company, and The Washington Post.

Gates ($104.6 billion), Larry Ellison ($96.8 billion), Warren Buffett ($95.9 billion), Mukesh Ambani ($91.4 billion), Larry Page ($88.8 billion), and Sergey Brin ($85.2 billion) round out the top ten.