New York, USA (CNN) – Jeff Bezos just lost his place as the second richest person in the world, slipping to third place when Indian business tycoon Gautam Adani quickly climbed to the top of the Bloomberg Billionaires Index.
Elon Musk, still the richest person with $ 260 billion, may need attention, as Adani took less than 10 months to reach number two after starting the year at 14.
It is the first time that someone from Asia ranks so high on Bloomberg’s list that it has long been dominated by tech entrepreneurs.
Adani’s fortune of $ 146.9 billion, largely tied to the Adani Group’s vast holdings, is still far behind Musk’s $ 260 billion. The group operates a number of businesses including ports and coal that have flourished in recent years.
Shares of some Adani companies have risen more than 1,000% since June 2020, reflecting investor optimism about the conglomerate’s strength in areas such as infrastructure and renewable energy that Prime Minister Narendra Modi has prioritized development. Shares of leading company Adani Enterprises rose more than 115% in 2022.
In February, Adani overtook Indian businessman Mukesh Ambani to become the richest person in Asia.
Bezos’ net worth fell to $ 145.8 billion, according to Bloomberg, as tech stocks were hit hard due to a larger stock sell-off on Friday. Amazon shares fell 3% in initial trading and the stock fell more than 25% this year.
The Amazon founder was at the top of the list earlier, but his fortune was damaged after his divorce in 2019. Much of his wealth is tied to Amazon stock. According to Bloomberg, the tech sale has cut $ 45 billion from Bezos’ net worth since January.
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