Industrialist Gautam Adani Overtakes Warren Buffet To Become World's Fifth Richest Person

Billionaire industrialist Gautam Adani has edged past veteran Wall Street investor Warren Buffet, to become the world¡¯s fifth-most richest individual, according to the data by Forbes.

Adani runs an array of businesses ranging from airports to ports and power generation to distribution.

Adani has six publicly traded companies in India, including Adani Enterprises, Adani Green Energy, and Adani Power.

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.

Bloomberg

SpaceX and Tesla chief Elon Musk whose net worth stands at $269.7 billion is at the top of the Forbes list.

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.

¡°No one will go to bed on empty stomach if India becomes a $3o trillion economy¡±

Last week, Industrialist Gautam Adani said if the country becomes a $30-trillion economy as 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.

Adani, who has added USD 49 billion in additional wealth - higher than the world's two richest persons, Elon Musk and Jeff Bezos, in 2021 to total at USD 81 billion, also expressed hope that though the numbers and optimism are stunning, he believes we as a nation are good at making this happen in just 10,000 days.

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If the economy grows as planned, he said this could also mean that during these 10,000 days the stock markets will add about USD 40 trillion in market capitalization, which translates to an addition of USD4 billion every day until 2050.

Uplifting the lives of 1.4 billion may feel like a marathon in the short run, but it's a sprint in the long run, Adani concluded. The World Bank in its latest report on the poverty in the country said India saw a massive 12.3 percentage points decline in extreme poverty between 2011 and 2019-from from 22.5 per cent in 2011 to 10.2 per cent in 2019.

Where is Ambani on the list?

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 $107.6 billion).

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