Gautam Adani Overtakes Warren Buffet To Become World's Fifth Richest Person

Billionaire industrialist Gautam Adani has overtaken the American business magnate and investor Warren Buffet to become the fifth richest billionaire in the world.

According to Forbes real time billionaire list, Adani's wealth stood at $123.7 billion, as Friday's market close, passing Buffet's $121.7 billion wealth. Gautam Adani is the founder and chairman of Adani Groups, which is engaged in multiple businesses, including ports, edible oil, airports, power generation and distribution. It has six publicly traded companies in India that includes Adani Enterprises, Adani Green Energy, and Adani Power.

Last week, Adani said in a statement, "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. Uplifting the lives of 1.4 billion may feel like a marathon in the short run, but it is a sprint in the long run." As per the World Poverty Clock, the percentage of the world's population living below the extreme poverty line has reduced from 36 per cent to 10 per cent in 2015 for the last quarter-century.

According to the reports, after the listing of the renewable energy company, Adani Green, Gautam Adani's wealth increased nearly five times to $81 billion from $17 billion in 2020. The Forbes list is currently headed by SpaceX and Tesla chief Elon Musk whose net worth stands at $269.7 billion. The other three persons who are richer than Adani includes, Jeff Bezos (Amazon founder with a net worth of $170.2 billion), Bernard Arnault (French luxury goods, net worth of $167.9 billion) and Bill Gates (Microsoft co-founder, net worth of $130.2 billion). Reliance Industries chairman and managing director Mukesh Ambani is placed in eighth place with a net worth of $104.2 billion.