Indian billionaire industrialist Gautam Adani, who is the founder and the chairman of the Adani group, has surpassed Microsoft co-founder Bill Gates to become the fourth richest person in the world, with an estimated wealth of $116.3 billion, as per the Forbes’ Real-Time Billionaires List.

As per the Bloomberg index, Gautam Adani is placed fourth on the list, following Tesla and SpaceX CEO Elon Musk ($242 billion), Amazon founder Jeff Bezos ($148 billion) and Louis Vuitton CEO Bernard Arnault ($137 billion). According to the index, Reliance Industries’ chairman Mukesh Ambani, with a fortune of $88 billion, was placed eleventh on the list. Gautam Adani, who was born in Gujarat, dropped out of college as a teenager, and moved to Mumbai, where he worked in the diamond trade before returning to his home state.

Adani made his foray into global trading when he imported polyvinyl chloride (PVC) for his brother’s plastic business. In 1988, he set up Adani Enterprises, the group’s flagship company, to import and export commodities. He reportedly owns “almost 75% of Adani Power, Adani Transmissions and Adani Total Gas, 64% of Adani Ports & Special Economic Zone and 57% of Adani Green Energy.”