In news– Recently, the Bloomberg Billionaires Index reported that Gautam Adani’s net worth had reached $100 billion, an accomplishment that makes the industrialist the only Indian member of an exclusive global group called the centibillionaire’s club.
Who is a centibillionaire?
- A Centibillionaire is a person with assets worth over 100 billion dollars, pounds, etc.
- Although Bill Gates did have a net worth of over $100 billion in 1999 for a brief period, the term centibillionaire did not gain currency until the founder of Amazon, Jeff Bezos, increased his wealth to $112 billion in 2017.
- It is since then that he was referred to as the world’s first centibillionaire.
- By 2020, when Mark Zuckerberg joined the group, they already had four other members — Tesla’s Elon Musk, Bill Gates, Bezos and Bernard Arnault, the chairman and CEO of luxury goods company LVMH Moët Hennessy – Louis Vuitton SE.
- Currently, the club has 10 members, with Musk on top and Bezos next, followed by Arnault, Gates, and Warren Buffett of Berkshire Hathaway.
- Adani is tenth on the list and $3 billion below the person above him, Oracle’s Larry Ellison, whose net wealth is $103 billion.
- According to the Bloomberg report, Adani, whose interests range from ports and mines to green energy, is the biggest gainer in the Billionaires Index this year, up by almost $24 billion.
Bloomberg Billionaires Index-
- The index debuted in March 2012 and tracks the net worth of the 500 wealthiest people on the planet.
- It draws information from “action in the stock market, economic indicators and news reports,” features a profile of each billionaire, and includes a tool that allows users to compare the fortunes of multiple billionaires.
- The index is updated every day at the close of trading in New York.
- Due to an editorial policy, the Index excludes from ranking the company’s own billionaire founder and majority owner, Michael Bloomberg.