Jeff Bezos lost his status as the second richest person in the world and dropped to number 3 when Indian business tycoon Gautam Adani topped Bloomberg’s list of billionaires.
Also beware of Elon Musk, who is still number 1 in wealth with $ 260 billion. It took Adani less than 10 months to reach second place and at the start of 2022 he was only in 14th place, CNN reported.
Adani’s fortune of $ 146.9 billion, largely tied to stakes in his growing conglomerate Adani Group, is still far behind Musk’s $ 260 billion. The group operates a number of businesses, including ports and coal, which have flourished in recent years.
Shares in select Adani companies have risen more than 1,000% since June 2020, reflecting investor optimism about the conglomerate’s strength in sectors such as infrastructure and renewable energy. Shares of its flagship Adani Enterprises rose more than 115% in 2022.
In February, Adani overtook fellow Indian tycoon Mukesh Ambani to become the richest man in Asia.
Bezos’ net worth fell to $ 145.8 billion, according to Bloomberg, as tech stocks took a hit amid a larger stock sell-off on Friday. Amazon shares fell 3% at the start of trading and fell more than 25% this year.
The Amazon founder was previously at the top of the list, but his wealth suffered after his divorce in 2019. Much of his wealth is tied to Amazon stock. According to Bloomberg, the tech stock selloff has reduced Bezos’ net worth by $ 45 billion since January.
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