Gautam Adani surpasses Warren Buffett to become fifth richest in the world

Adani group chairman Gautam Adani has overtaken Warren Buffett as the fifth richest in the world.

According to Forbes, the 59-year-old Adani, who has interests in businesses from ports to power, surpassed the legendary investor after his net worth reached $123.7 billion compared to Buffet's $121.7 billion.

With a net worth of $123.7 billion, Adani reached the fifth spot and is behind Microsoft co-founder Bill Gates ($130.2 billion), Bernard Arnault ($167.9 billion), Jeff Bezos ($170.2 billion), and Elon Musk ($269.7 billion).

Gautam Adani has recently ramped up his interest in India's fast growing green energy sector where he is directly pitted against Reliance Industries chairman Mukesh Ambani.

"Solar power today is globally the fastest growing source of energy. Over the past decade, the price of solar panels has dropped by 90% — and, over the next decade, - we will continue to see price drops of the same magnitude within the solar ecosystem," said Adani at the recently-held India Economic Conclave.

He also projected India's economy to grow to $30 trillion by 2050.