Gautam Adani Edges Out Warren Buffet To Become 5th Richest In World

New Delhi: Gautam Adani, Chairman of Adani Group, became the fifth richest man in the world leaving behind ace investor and Berkshire Hathaway chairman, Warren Buffett, according to Forbes’ real-time billionaires list.

Adani’s net worth has risen from $50.5 billion in 2021 to $122.3 billion till date, according to Forbes. Buffett’s fortune stand at $121.7 billion.

Now only four people on the planet richer than Adani. They are, Microsoft cofounder Bill Gates (worth an estimated $130.2 billion), French luxury goods king Bernard Arnault ($167.9 billion), Amazon founder Jeff Bezos ($170.2 billion) and Tesla and SpaceX chief Elon Musk ($269.7 billion).

Gautam Adani is the founder and Chairman of Adani Group, which is engaged in multiple businesses, including ports, edible oil, airports, power generation and distribution.

The group has seven listed companies, including Adani Enterprises, Adani Ports, Adani Power, Adani Total Gas, Adani Green Energy and Adani Transmission. Adani Wilmar is their latest debutant, which was listed earlier this year.

Rally in Adani Group company shares push net worth higher in the last couple of weeks. Shares of Adani group firms soared this year helping him not only become a centibillionaire but also move up the ladder on the billionaires list.

Three Adani Group companies have delivered multibagger returns so far in 2022. Adani Wilmar is up by 235 per cent compared to its issue price, whereas Adani Power has zoomed 170 per cent. Adani Green Energy has also gained 110 per cent.

Adani Power became the sixth group firm to cross Rs 1 lakh crore market valuation after its shares hit an all-time high of Rs 272 a piece on Monday stated reports in Business Insider.