Gautam Adani set to be world’s 2nd trillionaire by 2028 after Elon Musk

Indian billionaire Gautam Adani of the Adani Group looks all set to become the world’s second trillionaire by 2028, according to a report by the UK-headquartered Informa Connect Academy. The report adds that American billionaire Elon Musk, with a reported current net worth of $251 billion, could be the first in the world to achieve the trillionaire status by 2027.

The academy’s analysis shows that Adani will be the second person in the world to attain a trillionaire status by 2028 if he maintains his annual growth rate that averages 123 per cent.

Adani’s current net worth is Rs 7,14,460 crore (about $85.5 billion), and the 61-year-old founder of the Adani Group has investments in businesses as diverse as ports, airports, Special Economic Zones (SEZ), renewable energy, FMCG, constructions and cement, among others. The conglomerate recently announced a Rs 7.24 lakh crore investment.

The Squirrels reported last at week that Adani Group is all set to enter into a joint venture (JV) project with Israel’s Tower Semiconductor Limited to set up a chip manufacturing plant at a reported investment of $10 billion in Taloja, a census township in Raigad district of Navi Mumbai. Gautam Adani’s conglomerate will execute the project under the group’s flagship, Adani Enterprises Limited.

Maharashtra Deputy Chief Minister Devendra Fadnavis had confirmed the news with a post on the social media platform, X.

The development happened a day after Bloomberg News reported that the Adani Group was discussing dollar bond sales with around 10 international banks, in order to raise an estimated $1.5 billion. The group plans to complete sale of the bonds in several parts by the end of February 2025 and use the money in debt refinancing, Bloomberg said, adding that the conglomerate is considering to execute the sale under its renewable energy and power arms, Adani Green Energy and Adani Energy Solutions. Without mentioning names, the news report stated that talks are currently going on between the group and leading banks in Europe, Japan and West Asia.

Earlier in September 2004, Adani Enterprises launched their first bond sale for individual investors, with plans to raise up to Rs 8 billion ($ 95.3 million) and diversify funding base.

Meanwhile, Adani Wilmar, the FMCG unit of the Adani group, is poised to purchase three brands of packaged edibles, ready-to-cook food and spices in what is being estimated as a billion dollar deal, to fortify its presence in the packaged consumer goods market.

ELON MUSK LEADS THE RACE

The report by Informa Connect Academy says Elon Musk is all set to become first trillionaire in the world by 2027, with his wealth increasing annually at an average rate of 110 per cent. The Bloomberg Billionaires Index has rated Musk as the world’s richest person with $251 billion.

The report adds that Nvidia CEO Jensen Huang and Indonesian mining tycoon Prajogo Pangestu are also on course to become trillionaires by 2028. LVMH Moet Hennessy Louis Vuitton CEO Bernard Arnault and Meta CEO Mark Zuckerberg are projected to hit the trillion mark by 2030.