Adani Group chairperson Gautam Adani is now the 5th richest man in the world, overtaking legendary investor Warren Buffet. As per Forbes, the 59-year-old billionaire tycoon whose group runs companies in various sectors from ports to power plants, has taken his total net worth to $123.7 billion, while Buffet’s is $121.7 billion.
Today, the sixth company from the Adani Group, Adani Power, reached a market capitalization of ₹1 trillion, with a stock price of ₹272.05. As per BSE data, Adani Power now ranks 49th overall in terms of m-cap.
Gautam Adani has four people in the world ahead of him, namely, Microsoft co-founder Bill Gates ($130.2 billion), Bernard Arnold ($167.9 billion), Jeff Bezos ($170.2 billion), and Elon Musk ($269.7 billion).
Recently, Adani has turned his interest to the renewable energy sector, which is gaining prominence due to climate change energy transition policies and rising fuel prices. Adani Green Energy, with a present market capitalization of $57.7 billion, operates the Kamuthi Solar Power Project in Gujarat, which is among the largest photovoltaic power plants in the world.
Gautam Adani’s wealth spiked by 467.41% from March 2019 to 2020, going from $8.9 billion to $50.5 billion, and then became almost double of that in March 2022, standing at $90 billion. Much of these gains have been boosted by Adani Power, which increased its share price by 78.68% in just one month.