This Indian Billionaire Just Ousted Jeff Bezos As World's Second-Richest Person

Zinger Key Points
  • Shares of some Adani companies have jumped more than 1,000% since June 2020.
  • Bezos's net worth slumped to $145.8 billion after the tech stocks were badly hit amid a broader equities selloff.
This Indian Billionaire Just Ousted Jeff Bezos As World's Second-Richest Person

Indian business tycoon and billionaire Gautam Adani surpassed Jeff Bezos to become the world's second-richest person. 

As Adani climbs the ranks of the Bloomberg Billionaires Index, Elon Musk remains the number one wealthiest person in the world, with $260 billion to his name. 

In less than ten months, Adani has reached the second spot after starting the year in the 14th position. 

Adani's net worth swelled to $146.9 billion, primarily tied up in holdings of his Adani Group conglomerate.

With a strong position in the areas like infrastructure and renewable energy, shares of some Adani companies have jumped more than 1,000% since June 2020. Shares of Adani Enterprises are up more than 115% in 2022.

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In February, Adani overtook India's Mukesh Ambani as the wealthiest person in Asia. Later, he became a centibillionaire in April and surpassed Bill Gates and France's Bernard Arnault over the past two months.

According to Bloomberg, Bezos's net worth slumped to $145.8 billion after the tech stocks were badly hit amid a broader equity selloff. Amazon shares fell 3% in early trading, down more than 25% in 2022. 

Bezos was previously ranked number one on the list, but his net worth took a hit after his 2019 divorce. Much of his wealth is tied up in Amazon stock. Since January, the tech selloff has shaved $45 billion off Bezos' net worth.

Photo: Courtesy of U.S. Embassy New Delhi and Steve Jurvetson on Flickr

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