Indian president replaces Jeff Bezos as world’s second richest man

Jeff Bezos has lost his status as the world’s second-richest person to third place after India’s President Gautam Adhani quickly climbed Bloomberg’s list of billionaires. CNN.

Elon Musk is at the top with $260 billion.

Adani started the year at the 14th position and took less than 9 months to reach the 2nd position.

It’s the first time an Asian has topped Bloomberg’s list, which has long been dominated by American tech entrepreneurs.

Adani’s net worth has reached $146.9 billion thanks to the businesses of his joint venture Adani Group. It also deals in ports and coal, areas that have boomed in recent years.

Shares of some Adani Group companies have risen more than 1,000% since June 2020, reflecting investor confidence in the group’s strength in sectors such as infrastructure and renewable energy, which Indian Prime Minister Narendra Modi has announced as growth priorities.

In February, Adani overtook another Indian tycoon, Mukesh Ambani, to become Asia’s richest man.

According to Bloomberg, Bezos’ net worth has dropped to $145.8 billion. Amazon shares fell 3% yesterday and have lost 25% of their value since the start of the year.

Publisher: MB

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