Billionaire Gautam Adani has surpassed Amazon founder Jeff Bezos to become the world's third richest individual, according to The Real-Time Billionaires List compiled by Forbes. Adani has surpassed Bezos with his net worth rising $4.8 billion to $155.1 billion while Bezos' net worth declined $2.3 billion to $149.7 billion, according to Forbes.
Adani now trails behind Bernard Arnault, chief executive of luxury brand LVMH Moët Hennessy – Louis Vuitton, who has net worth of $155.2 billion and Elon Musk founder of SpaceX and Tesla, with net worth of $273 billion.
Bezos net worth has declined since start of the year owing to sharp decline in tech heavy Nasdaq index which has crashed over 20 per cent year-to-date while surge in Adani's wealth has come on the back of fast pace of expansion being witnessed by his group companies.
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The group has expanded its business across several sectors including renewable energy, ports, telecom, cement and media.
Adani has pledged to invest $70 billion in green energy, in order to become the world’s largest renewable energy producer.
In India, Adani is aggressively competing with Mukesh Ambani, the Chairman of Reliance Industries which is the country's most valuable company.
Ambani has been ranked eighth on the list with net worth of $92 billion. Microsoft’s founder Bill Gates, with a net worth of $105 billion has been ranked as the 5th richest billionaire, whereas ace-investor and CEO of Berkshire Hathaway – Warren Buffett is ranked seventh richest with a net worth of $96 billion.
