Gautam Adani, chairman of Indian conglomerate, has become the fifth-richest person in the world by overtaking American investor Warren Buffett, according to Forbes.
Adani, 59, had an estimated net worth of $123.7 billion as of Friday’s market close, more than the $121.7-billion fortune of 91-year-old legendary investor Buffet, according to the business magazine.
The Adani group, a port-and-energy conglomerate with seven publicly traded companies in India, contibutes most in its chairman’s net worth. The group has seven listed companies, including Adani Enterprises, Adani Ports, Adani Power, Adani Total Gas, Adani Green Energy, Adani Transmission and Adani Wilmar.
Adani’s fortune was