Indian billionaire Gautam Adani is now the world’s second richest person. The only person richer than him now is Tesla chief Elon Musk.

The 60-year-old chairman of Adani Group has replaced Bernard Arnault on Forbes Real Time Billionaire’s List. His net worth now stands at $155.5 billion (12.37 lakh crore rupees) and he is now the first Asian to be ranked among the top three billionaires globally.

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Adani’s businesses include coal production, thermal power generation, and infrastructure. His company is India’s largest private port operator and is also expanding its airports business.

Adani’s wealth has burgeoned on his bets on India’s green energy sector.

It is expected to further increase in the near future. Adani Group’s kitchen essentials firm Adani Wilmar is reportedly looking for local and overseas acquisitions to expand its food operations business.

The company is looking to acquire brands in staple foods and distribution companies to boost its consumer goods offering and reach, Adani Wilmar CEO and managing director Angshu Mallick told Bloomberg.