Indian entrepreneur Gautam Adani has surpassed Microsoft Corporation founder Bill Gates to become the fourth richest person in the world.
According to Forbes’ Real-Time Billionaires List, Adani now has a net worth of $116.9 billion, making him the richest man in Asia. Currently, in fifth position, Gates has a net worth of $103.9 billion.
Elon Musk’s net worth of $243.9 billion keeps him at the top of the list.
According to Business Today, Gates fell in the Forbes rankings after declaring he would contribute $20 billion of his own wealth to the Bill and Melinda Gates Foundation.
Adani Ports and Special Economic Zone and Israel’s Gadot Group reportedly won the proposal to privatize Israel’s second biggest port, Haifa, for $1.18 billion around the same period.
Adani is a high school dropout who formed Adani Group, a collection of industries that includes electricity generation and transmission, edible oil, real estate, and coal.
According to Forbes, the company owns six listed firms in India, with Adani Green Energy Ltd. being the most valued.
Adani also owns Abbot Point, a contentious coal mining project in Australia, whose Carmichael coal mine is touted as one of the largest in the world.
Adani Group purchased a 74% share in the Mumbai International Airport in September 2020.
The investment of $2 billion by Abu Dhabi’s International Holding Co. in three of Adani’s green energy-focused companies, namely Adani Green Energy, Adani Transmission, and Adani Enterprises, pushed Adani’s net worth above the $1 billion barrier earlier this year.
Following the announcement in April, Adani Green Energy shares increased by over 25%. Additionally, shares of Adani Transmission and Adani Enterprises gained 11% and 3%, respectively.
Adani is also wealthier than Oracle Corporation founder Larry Ellison, Google co-founders Larry Page and Sergey Brin, and Mark Zuckerberg, the chairman and chief executive officer of Meta, formerly known as Facebook, who ranks twenty on the list with a net worth of $57.4 billion.
He is also wealthier than Mukesh Ambani, the former wealthiest Asian billionaire and chairman of Reliance Industries. Ambani ranks tenth on the list with a net worth of $87.6 billion.