Indian tycoon Gautam Adani has surpassed Microsoft co-founder Bill Gates to become the world’s fourth richest person, with a net worth of $115.5 billion, according to Forbes’ list of real-time billionaires.
Adani’s ranking climbed after Gates announced last week that he would donate $20 billion to his philanthropic organization, the Bill & Melinda Gates Foundation, to address “huge global setbacks.”
Elon Musk, the founder of Tesla and SpaceX, has the highest net worth with $253 billion, followed by Louis Vuitton’s Bernard Arnault with $157.8 billion, and Amazon founder Jeff Bezos with $150.3 billion.
Gates, whose current net worth is $105.3 billion, pledged to “return” his resources to improve lives, citing the COVID-19 pandemic, gender equality, and the Russia–Ukraine war as some of the major issues facing the world.
“As I look to the future, I plan to give virtually all of my wealth to the foundation. I will move down and eventually off of the list of the world’s richest people,” he said in a tweet.
Adani is the chairman and founder of Adani Group, an Indian conglomerate with businesses spanning energy, coal mining, airports, defense, and aerospace. He gained $1.1 billion in the last 24 hours, Forbes’ website showed.
According to its website, Adani Group has a market cap of over $200 billion, consists of seven publicly traded companies, and positioned itself as the market leader in the transport logistics and energy utility businesses.
Adani Group acquired Holcim AG’s cement assets in India for $10.5 billion in May, its largest acquisition to date, to become India’s second-largest cement manufacturer.