Gautam Adani has become the fifth richest person in the world, overtaking legendary investor Warren Buffett. Adani group chairman added $43 billion to his wealth in 2022, a stellar spike of 56.2% in his portfolio.
Gautam Adani overtakes Warren Buffett
Billionaire industrialist Gautam Adani, who businesses ranging from airports to ports and power generation to distribution, has jumped past veteran Wall Street investor Warren Buffet, to become the world’s fifth-most richest individual according to the data by Forbes.
According to Forbes’ Real-Time Billionaires List, Adani and his family’s net worth as of early Monday stood at $123.2 billion against Buffet’s $121.7 billion. He has added $43 billion to his wealth in 2022, a stellar spike of 56.2% in his portfolio, according to Bloomberg Billionaires Index.
The richest person in India
The Forbes list is currently ruled by SpaceX and Tesla chief Elon Musk whose net worth stands at $269.7 billion. He is followed by Amazon founder Jeff Bezos (net worth $170.2 billion), LVMH owner Bernard Arnault and family (net worth $166.8 billion), and Microsoft founder Bill Gates (net worth $130.2 billion), the data showed. Adani’s estimated $123.7 billion net worth makes him the richest person in India.
Reliance Industries Chairman and Managing Director Mukesh Ambani is placed in eighth place with a net worth of $104.2 billion, behind Larry Ellison (net worth of $107.6 billion).
59-year-old is the chairman and founder of the Adani Group which runs several businesses from airports to ports, and power generation to distribution. It has six publicly traded companies in India, which include Adani Enterprises, Adani Green Energy, and Adani Power. Adani business 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).
Quite recently, Gautam Adani said if the country becomes a $30-trillion economy 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 the 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.