As per the Forbes’ real-time billionaires list, the Indian business tycoon Gautam Adani overtook Bill Gates, the co-founder of Microsoft company, and he became the world’s fourth richest person. On Thursday, the business tycoon reached $115.5 billion at 60, whereas Mr Gates’s fortunes are at $104.6 billion.

Mukesh Ambani, another Indian business tycoon, stands on the tenth rank in the list with $90 billion.

Elon Musk, the founder of Tesla and SpaceX, tops the list with $235.8 billion, despite being in controversy after his bid to buy Twitter. The Adani group has been famed for turning a small commodity trading business into a conglomerate spanning ports, mines, and green energy.

One of the big financial companies based in New York City reported that when it overtook Mr Ambani as Asia’s richest person, he said, “Some of the Adani Group’s listed stocks have increased more than 600 per cent from the last two years on bets his force into green energy and infrastructure will pay off as PM Modi seems to revive the $2.9 trillion economy and to meet India’s carbon net-zero target by 2070.”