Indian billionaire, Gautam Adani, has become the second richest person in the world two weeks after he climbed to the third spot on Bloomberg Billionaire Index, closing the gap on Tesla’s founder, Elon Musk.
The billionaire, who founded Adani Enterprises in 1988, had surpassed the Chairman of LVMH Moët Hennessy, Bernard Arnault and American business magnate, Bill Gates in August, with only Jeff Bezos and Musk standing between him and becoming the richest person in the world.
Adani has now surpassed Bezos, after the Amazon founder lost $2.74 billion at the close of trading on Friday, dragging his wealth down to $147 billion.
Bezos’ networth dropped by -1.82 percent from $149.74 billion. This sent the e-commerce guru to the third spot but tied with Adani, who also has $149.74 billion.
Ripples Nigeria gathered that the Indian billionaire had also lost a whopping $2.12 billion from his wealth during trading, as Adani Enterprises stock value fell by -1.17 percent from 3,748.70 Indian Rupee to 3,705 India Rupee.
Adani’s fortune was estimated at $149.12 billion before he lost the $2.12 billion. However, the loss was not enough to prevent the investor from rising to second spot on the rich list.
Therefore, Adani currently sits behind only Musk, who is worth $264 billion.
The world’s richest man had also lost $376 million during trading earlier in the week.
And with Musk losing $6.44 billion year-to-date and Adani making $70.3 billion in the last nine months, the Indian billionaire is set to challenge the world’s richest man for the top spot in the months ahead.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: How N70m road construction created more hardship for Sokoto residents
“To address recurrent accidents on Gagi to Gidan Dilo road and Fakon Idi roads, in Sokoto State, the Federal Government,...
INVESTIGATION: Inside Kwara school where students are used as labour on teachers’ private farms
In this report, SHEREEFDEEN AHMAD uncovered how young students in Kwara State, Nigeria, are being used for labour work on...
INVESTIGATION: How Kano SUBEB awarded contracts to inactive contractors, non-existent schools
In an effort to address issues hindering quality education, the Kano State Government in 2020 awarded N88,406,667.10 for the construction...
SPECIAL REPORT: Hike in gas price forces more Nigerians to use coal, sawdust, as smoke kills 93,300 yearly
In the build-up to the 27th Conference of Party (COP 27), Nigeria recently launched its energy transition plan (ETP) as one of...
INVESTIGATION: How roadside foods endanger consumers’ life with trans fat in northern Nigeria
With an estimated 854,000 deaths in Nigeria, and 3,229 attributed to trans fatty acids (TFA) -related cardiovascular deaths, ADESOLA IKULAJOLU visited Nigeria’s...