Gautam Adani Overtakes Warren Buffet To Become World's Fifth Richest Person According to Forbes estimate, Adani's net worth is $123.7 billion, as Friday's market close

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Gautam Adani's official Twitter handle

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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Business News

Former Pediatrics Professor Donates $1 Billion, Makes Albert Einstein College of Medicine Tuition-Free

Dr. Ruth Gottesman's husband left her $1 billion in Berkshire Hathaway stock with the following instructions: "Do whatever you think is right with it."

Business News

'Next Tesla' Electric Car Startups Hit Speed Bump: 'Investors Want To See Demand'

Electric vehicle companies large and small, from Ford to Tesla to Rivian, are dealing with cooler-than-expected demand for EVs.

Growing a Business

The Top 2 Mistakes Founders Make That Hinder the Growth of Their Companies

Here are two of the biggest ways founders sabotage their own success — and how to fix it.

Starting a Business

Long-Lost Sisters Who Built the Largest Black-Owned Wine Company in the U.S. Reveal How to Break Into a Notoriously Tough Industry

Andréa and Robin McBride followed their shared love of wine into business — but it hasn't always been easy.

Marketing

Your Secrets Won't Stay Hidden For Long — Follow These 6 Ways to Help Protect Your Reputation

On the web, internal crises can turn into a five-alarm fire in a hurry. Knowing how to respond can go a long way toward limiting the damage and protecting your brand from long-term harm.

Business News

'Inexcusable': Ryanair May Have to Cut Summer Schedule, Increase Fares Up to 10% Due to Issues With Boeing Aircraft

Boeing was originally slated to deliver 57 aircraft to the airline by the end of April.