Jeff Bezos Falls Down the Ranking of Richest People in the World Due to This Indian Billionaire Indian tycoon Gautam Adani is coming for the Amazon founder.
Jeff Bezos has been dethroned as the second-richest person in the world thanks to Indian tycoon Gautam Adani. Adani has been climbing Bloomberg's Billionaire Index over the past 10 months — rising from 14th to 2nd place — and pushing the Amazon founder down to the No. 3 slot.
Elon Musk is still sitting pretty as the richest person in the world with his $263 billion fortune, while Adani — who overtook Mukesh Ambani as the wealthiest person in Asia in February — now sits behind him with a $146.9 billion net worth.
Today is a historic day. Privileged to bring home @AmbujaCementACL & @ACCLimited. Acquisition of TWO iconic brands makes us India's 2nd largest cement manufacturer. Fantastic Team. Fantastic Platform. Fantastic Adjacency. We will double our capacity in the next 5 years. Jai Hind. pic.twitter.com/bftYhPllAV— Gautam Adani (@gautam_adani) September 17, 2022
The Indian entrepreneur's rise in the ranks is due to his Adani Group companies, which specialize in infrastructure and renewable energy across India and elsewhere. Shares of his businesses grew more than 1,000% since 2020, with shares of his flagship Adani Enterprises rising more than 115% in 2022, per CNN Business.
Adani's rise in net worth has come as Bezos' wealth has taken a hit, dropping $45 billion since January, per Bloomberg. Bezos' drop in wealth, to $145.8 billion, follows Amazon's dip in share price and equity selloffs. According to CNN Business, Amazon's stock has dropped more than 25% in 2022.