US Business

Indian tycoon Gautam Adani replaces Jeff Bezos as world’s second-richest person

Jeff Bezos has dropped to third place in the race for wealth.

The Amazon founder is now the third richest person in the world after Indian business tycoon Gautam Adani overtook Bezos in the latest Bloomberg Billionaires Index.

According to Bloomberg News, Adani’s net worth is estimated at $146.8 billion, second only to Elon Musk’s $263.9 billion.

This is the first time an Asian has ranked so high on a Bloomberg list that has long been dominated by white billionaires.

Bezos is only $19 million behind Adani. Shares of e-commerce giant Amazon are down 26% this year.

Meanwhile, according to reports, the shares of Adani Enterprises Ltd. rose last week, and some of his group of companies have grown over 1,000% since 2020.

Adani’s rise to second place coincides with a sell-off in tech assets that has slashed more than $45 billion from Bezos’ fortune since January. Bezos’ fortune – once the world’s richest man – has also shrunk significantly since his 2019 divorce from ex-wife Mackenzie Scott, who received a 4% stake in Amazon.

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