Gautam Adani Become The World’s 5th Richest Person.
According to Forbes’ real-time billionaire tracker, only four people on the planet are now wealthier than Adani. According to Forbes data, Adani Group Chairman Gautam Adani has surpassed legendary investor Warren Buffett to become the world’s fifth wealthiest person.
Gautam Adani’s meteoric rise continues unabated. Earlier this month, the Indian infrastructure magnate became the richest Asian billionaire in history (in absolute terms)–and he’s only getting started. Adani has now surpassed Warren Buffett as the world’s fifth-richest person.
According to Forbes, Adani, who is 59 years old, has a net worth of $123.7 billion as of Friday’s market close, edging out Buffett’s $121.7 billion fortune.
Adani is the chairman and founder of the Adani Group, an Indian port and energy conglomerate with six publicly traded companies. Adani has led the aggressive expansion into renewable energy, media, airports, and other businesses, and shares of each have risen between 19% and 195 per cent this year.
Abu Dhabi’s International Holding Co., which is run by the brother of the UAE’s crown prince, invested $2 billion in three of Adani’s green energy companies earlier this month. He has stated that he wants to become the world’s largest green energy producer, with plans to invest up to $70 billion in renewable energy projects.
Adani, the son of a textile merchant, dropped out of college and founded a commodities export company in 1988. By 2008, he had become a billionaire for the first time, with a net worth of $9.3 billion, according to Forbes.
After expanding his empire with major acquisitions like the 2020 purchase of a 74 per cent stake in Mumbai International Airport, India’s second busiest, and the $3.5 billion buyouts of Softbank’s renewable energy unit in India, his fortune really began to take off at the start of the Covid-19 pandemic. Adani agreed to pay $220 million for Ocean Sparkle, India’s largest marine services company, on Friday.
Adani joined the $100 billion club on April 4 and is now one of the world’s top five wealthiest people.
He is also the wealthiest Asian on the planet.
The business magnate is now behind Tesla CEO Elon Musk, who has a total net worth of $269.7 billion, Amazon founder Jeff Bezos, Louis Vuitton CEO Bernard Arnault, who has a total net worth of $161.2 billion, and Microsoft founder Bill Gates, who has a total net worth of $130.2 billion.
Adani’s fortune soared from $8.9 billion just two years ago to an estimated $50.5 billion in March 2021, thanks to his skyrocketing share prices–then nearly doubled to an estimated $90 billion in March 2022, as Adani Group stocks rose even further.
Adani’s estimated net worth of $123.7 billion makes him India’s richest man, $19 billion more than the country’s second-richest man, Mukesh Ambani (worth an estimated $104.7 billion). He outperforms Warren Buffett, whose Berkshire Hathaway stock fell 2% on Friday amid a broad stock market decline in the United States.
According to Forbes’ real-time billionaire tracker, only four people on the planet are worth more than Adani: Microsoft co-founder Bill Gates ($130.2 billion), French luxury goods king Bernard Arnault ($167.9 billion), Amazon founder Jeff Bezos ($170.2 billion), and Tesla and SpaceX CEO Elon Musk ($269.7 billion).
As of Friday’s market close, the 59-year-old Adani’s net worth was estimated to be $123.7 billion.