Gautam Adani Becomes World's 5th Richest Person, Overtakes Warren Buffet: Report

Adani Group Chairman Gautam Adani has become the world's fifth-richest person overtaking legendary investor Warren Buffett, according to Forbes data.

According to Forbes estimates, the net worth of 59-year-old Gautam Adani surged to $123.7 billion as of Friday's market close, while Warren Buffett's net worth stood at $121.7 billion. Mr Buffett is 91 years old.

Mr Adani's estimated $123.7 billion net worth makes him the richest person in India, $19 billion wealthier than the country's number two, Mukesh Ambani (who's worth an estimated $104.7 billion), Forbes said in a report.

Mr Adani surpassed Mr Buffett as shares of the famed investor's Berkshire Hathaway dropped by 2 per cent on Friday amid a broad drop in the US stock market.

There are now only four people on the planet richer than Mr Adani, according to Forbes' real-time billionaire tracker.

The four persons who are richer than Mr Adani include Microsoft co-founder Bill Gates (worth an estimated $130.2 billion), French luxury goods king Bernard Arnault ($167.9 billion), Amazon founder Jeff Bezos ($170.2 billion) and Tesla and SpaceX chief Elon Musk ($269.7 billion).