How Gautam Adani became the world's fourth richest person while billionaires like Jeff Bezos lost tens of billions

Gautam Adani has had a precise bully year.

The Indian billionaire concisely surpassed Amazon laminitis Jeff Bezos to go the second-richest idiosyncratic successful the satellite successful September, according to Bloomberg. He's present ranked arsenic the world's 4th wealthiest person.

Outside Southeast Asia, Adani is hardly a household name. That mightiness beryllium changing present that he's richer than Microsoft laminitis Bill Gates and iconic capitalist Warren Buffett.

"The benignant of emergence that you person seen is genuinely phenomenal and astir apt unprecedented successful the satellite that successful specified a abbreviated clip a azygous idiosyncratic has been capable to get assets crossed concern sectors and has emerged arsenic 1 of the largest billionaires successful the world," said Hemindra Hazari, an autarkic probe expert based successful Mumbai, India.

Coming from a middle-class household background, Adani began his entrepreneurial travel successful the country's fiscal capital, Mumbai, arsenic a diamond sorter successful the precocious 1970s. Adani is present seat of the Adani Group, 1 of the 3 largest concern conglomerates successful India.

Adani's institution representatives did not respond to respective requests for remark from CNBC.

Why is Adani's wealthiness connected the rise? Watch the video supra to larn much astir however Adani's governmental connections whitethorn person boosted the occurrence of his galore companies.