Indian mogul Gautam Adani has replaced Jeff Bezos as the world’s second-richest person, according to Bloomberg’s Billionaire Index.
After starting the year in the ranking’s 14position, Adani´s fortune has amounted for $146.9 billion, mostly driven by Adani Group’s holdings that operate ports, coal and cement, among other businesses.
Amazon founder Jeff Bezos net worth slumped to $145.8 billion, as tech stocks were impacted amid a broader selloff last Friday. Amazon shares fell 3% in early trading and the stock is down more than 25% this year.
Bezos previously ranked as number one on the ranking, but his wealth took a hit after his 2019 divorce. According to Bloomberg, the tech selloff has dented $45 billion off Bezos’ net worth since January.
This is the first time a businessman from Asia has ranked so highly on Bloomberg’s list.
According to the report, shares of some Adani companies have jumped more than 1,000% since June 2020.
Tesla CEO Elon Musk is still the wealthiest person with $260 billion.
In a report earlier this year, Oxfam said that the world’s 10 richest men doubled their wealth during the Covid pandemic.