Jeff Bezos has dropped to 3rd place within the race for riches.
The Amazon founder is now the world’s third-richest individual, after Indian enterprise tycoon Gautam Adani leapfrogged Bezos within the newest Bloomberg’s Billionaire Index.
Adani has amassed an estimated $146.8 billion fortune that solely trails Elon Musk’s $263.9 billion, according to Bloomberg News.
It’s the primary time an individual from Asia has ranked so extremely on the Bloomberg’s record, which has lengthy been dominated by white billionaires.
Bezos trails Adani by simply $19 million. Shares of e-commerce goliath Amazon are down 26% this yr.
In the meantime, shares of Adani Enterprises Ltd. have surged the previous week, and a few of his group of corporations climbed greater than 1,000% since 2020, in accordance with studies.
Adani’s rise to No. 2 coincides with a tech selloff that has chopped greater than $45 billion from Bezos’s fortune since January. Bezos — as soon as the world’s richest individual — additionally noticed his web price considerably drop after his 2019 divorce from ex-wife MacKenzie Scott, who obtained 4% of Amazon.