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