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.
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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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