Gautam Adani overtakes Warren Buffett to become 5th richest in the world: Forbes

Adani Group Chairman Gautam Adani has become the world's fifth-richest person after he overtook veteran investor Warren Buffett, according to Forbes data.

According to Forbes’ Real-Time Billionaires List, Adani's wealth stood at $122.2 billion, racing past Buffett's $120. billion.

Adani's estimated $123.7 billion net worth makes him the richest person in India, $19 billion wealthier than the country's number 2, Mukesh Ambani (who's worth an estimated $104.7 billion), Forbes said in the report.

Adani surpassed Buffett as shares of the famed investor's Berkshire Hathaway dropped by 2 per cent on Friday amid a broad drop in the US stock market.

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The group has seven listed companies, including Adani Enterprises, Adani Ports, Adani Power, Adani Total Gas, Adani Green Energy and Adani Transmission and its latest debutant Adani Wilmar.

Notably, Adani Power on Monday became the sixth Adani Group firm to hit a market capitalisation of Rs 1 lakh crore. The rise in the market cap came after the stock hit upper circuit of 5 per cent today. The large cap stock has gained 5 per cent to Rs 272.15 today against the previous close of Rs 259.20 on BSE. Market cap of the firm stood at Rs 1.04 lakh crore. Total 51.92 lakh shares of the firm changed hand amounting to a turnover of Rs 141.06 crore in the afternoon session.

There are now only four people on the planet richer than Adani, according to Forbes' real-time billionaire tracker. 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).

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