Business & Finance

After Stock Market Crash Gautam Adani Back To Number 3 On Forbes Rich List

A sharp decline in Indian benchmark equity indexes reduced Adani’s net worth to $140.2 billion, compared to Bernard Arnault’s wealth of $141.2 billion

New Delhi: Chairperson of Adani Group, Gautam Adani is back in the number 3 position on Forbes real-time billionaires list. He has been displaced by Louis Vuitton’s Bernard Arnault in the second place, with about a billion separating the two.

A sharp decline in Indian benchmark equity indexes reduced Adani’s net worth to $140.2 billion, compared to Bernard Arnault’s wealth of $141.2 billion.

Tesla CEO Elon Musk’s wealth rose further away to $259.8 billion. Despite Wall Street stocks collapse, he is well ahead of Bernard Arnault and Gautam Adani. Wall Street stocks have collapsed deeper into a bear market, with the S&P 500 enduring its worst run since the beginning of 2020.

After domestic benchmarks fall for the seventh straight session on Wednesday, the fall in Indian stocks has been deeper.

Also Read: RBI’s Three-Day Monetary Policy Meeting Begins Today, Another Repo Rate Hike Likely

Federal Reserve policymakers reconfirmed an aggressive policy stance in their fight against surging inflation despite increasing recession risks.

As a result, domestic investors’ wealth has eroded, as evidenced by Gautam Adani’s recent net worth decline.

Forbes ranked Amazon CEO Jeff Bezos fourth, and Reliance Industries CEO Mukesh Ambani eighth.

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