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Asian billionaire surpasses Warren Buffett to become the 5th richest person in the world

Gautam Adani’s net worth continues to grow spectacularly, according to Forbes. The Indian infrastructure tycoon became Asia’s richest billionaire in history (in USD) earlier this month and continues to climb higher up the billionaire rankings.

Asian billionaire surpasses Warren Buffett to become the 5th richest person in the world - Photo 1.

Billionaire Gautam Adani – Chairman of Adani Group. (Image: Getty Images)

According to the estimate of Forbes, as of the end of the trading session on April 22, the 59-year-old businessman’s net worth was $ 123.7 billion, far exceeding the $ 121.7 billion worth of 91-year-old billionaire Warren Buffett. Thus, Mr. Gautam Adani surpassed financial legend Warren Buffett and became the 5th richest person in the world.

Gautam Adani is the Founder and Chairman of Adani Group, a port and energy conglomerate with six companies listed on the Indian Stock Exchange. Shares of these businesses have risen from 19% to 195% this year, as Mr. Adani expands into renewable energy, media, airports…

Earlier this month, Abu Dhabi’s International Holding, run by the brother of the crown prince of the UAE, invested $2 billion in three of Adani’s green energy companies. The Indian billionaire said he wants to become the world’s largest green energy producer, with the goal of investing up to $70 billion in renewable energy projects.

The son of a textile business man, after dropping out of college, Mr. Adani started a commodity export company in 1988. By 2008, he had become a billionaire and joined the company for the first time. ranked by Forbes with an estimated net worth of $9.3 billion.

However, when the pandemic began, Mr. Adani really “flyed like a kite” after expanding his empire with a series of acquisitions. In 2020, he acquired a 74% stake in India’s second largest port Mumbai International Airport and spent $3.5 billion acquiring Softbank’s renewable energy company in India.

Most recently, on April 22, Gautam Adani agreed to buy Ocean Sparkle, India’s largest marine services company, in a deal worth $220 million.

Adani’s net worth was only $8.9 billion two years ago, but this number jumped to $50.5 billion in March 2021, thanks to a dizzying increase in stock prices. By March 2022, his fortune had doubled, to about $90 billion, as shares of Adani Group continued to soar.

With an estimated net worth of nearly $124 billion, Mr. Adani is not only India’s richest man, $19 billion more than the country’s second-richest person, Mukesh Ambani, but he also surpasses legendary investor. Buffett to become the 5th richest person in the world. Mr. Buffett’s fortune fell as shares of Berkshire Hathaway “lost” 2% amid a broad drop in the US stock market.

There are currently only 4 people richer than Mr. Adani, according to the real-time billionaire tracker of Forbesare: 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 Elon Musk , Director of Tesla and SpaceX ($269.7 billion).

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