Gautam Adani overtakes Warren Buffett to become world's fifth richest person

Gautam Adani

Adani Group chairman Gautam Adani has become the fifth richest person in the world, overtaking legendary investor Warren Buffett. According to a Forbes report, the 59-year-old Adani has an estimated net worth of $123.7 billion, as of Friday’s market close, passing Buffett's $121.7 billion fortune.

Industrialist Gautam Adani Gautam Adani has added $43 billion to his wealth in 2022, a stellar spike of 56.2% in his portfolio, according to Bloomberg Billionaires Index.

Adani is now only behind the four richest tycoons in the world, Microsoft co-founder Bill Gates ($130.2 billion), Bernard Arnault ($167.9 billion), Jeff Bezos ($170.2 billion), and Elon Musk ($269.7 billion). Adani’s estimated $123.7 billion net worth makes him the richest person in India.

Gautam Adani is the chairman and founder of the Adani Group - which runs a slew of businesses from airports to ports, and power generation to distribution. It has six publicly traded companies in India, including Adani Enterprises, Adani Green Energy, and Adani Power.

Adani Group on April 08 announced that Abu Dhabi-based International Holding Company PJSC (IHC) has invested over $2 billion in three Adani portfolio companies — Adani Green Energy (AGEL), Adani Transmission (ATL), and Adani Enterprises (AEL).

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Last week, Industrialist Gautam Adani said if the country becomes a  $30-trillion economy as projected by 2050, it can also be home to a nation wherein no one will go to bed on empty stomach.

"We are around 10,000 days away from year 2050. Over this period, I anticipate we'll add about USD 25 trillion to our economy. This translates to an addition of USD 2.5 billion to the GDP every day. I also anticipate that over this period, we'll have eradicated all forms of poverty," Adani said.