Coal billionaire Gautam Adani has become the fifth richest man in the world.
The 59-year-old Adani Group chairman, with his net worth surging to $122.2 billion, has overtaken investor Warren Buffett ($121.9 billion), according to the Forbes real-time billionaires list.
The Adani Group is India’s largest closely-held thermal coal producer and coal trader. It is also the country’s largest port operator. Now, there are only four more people in the world who are richer than Adani, according to Forbes.
With the latest milestone, Adani has also left behind fellow Indian Mukesh Ambani in the battle of fortunes. Earlier this month, Adani made his debut on the world’s centi-billionaires’ list.
His total net has risen to $105 billion, compared to Ambani’s $100 billion, according to the Bloomberg Billionaires Index.