Indian tycoon Gautam Adani’s wealth increased after stocks gained for two weeks in a row and outpaced Wall Street shares. As a result, he now occupies the third position on Forbes’ Real-Time Billionaires List, surpassing Amazon founder Jeff Bezos once more.
NDTV reported that Gautam Adani’s wealth increased by $314 million on Monday (October 31, 2022), bringing it to $131.9 billion – making him the third richest person in the world according to Forbes, after Bernard Arnault of Louis Vuitton, who maintains the second slot with a net worth of $156.5 billion.
After Amazon predicted dismal holiday sales last Thursday (October 27, 2022), sending shares of the largest retailer in the world tumbling in after-hours trade, the Forbes list also showed a dramatic decline in Jeff Bezos' fortune.
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Although Adani surpassed Jeff Bezos, whose net worth was $126.9 billion, the rankings on the Forbes list have been fluctuating recently, echoing the turmoil in the larger global stock markets, with gains and losses.
Gautam Adani, Bernard Arnault, and Jeff Bezos have had readings similar to a musical chairs game for the second, third, and fourth richest spots in recent weeks, but Elon Musk has kept far ahead and is the world’s richest, with a net worth of $223.8 billion.
The NDTV reports adds that Gautam Adani’s company would spend more than $150 billion in sectors including renewable energy, data centres, airports, and healthcare as it strives to join the exclusive club of corporations with $1 trillion valuation.
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