The world's third richest man, Gautam Adani, is considering opening a family office in Dubai or New York, Bloomberg reported.

The chairman of the ports and electricity conglomerate Adani Group is considering Dubai or New York as a base for an office that would invest the Adani family's personal funds. One source said the group's founders are in the process of hiring a full complement of specialized managers for the family office.

The move comes amid a $58 billion rise in Adani's personal fortune this year, the highest among the world's richest people, according to the Bloomberg Billionaires Index. It also reflects the increasingly global ambitions of the tycoon and his family, as the Adani Group makes significant overseas acquisitions outside its traditional stronghold in India.

The Adani family is currently discussing plans with consultants and tax experts. The location of the office is still changing and could change depending on the advice received and the availability of resources.