Adani Group chief Gautam Adani has slipped to the third place on the Bloomberg Billionaires Index after a massive $6.91 billion erosion in his net worth due to heavy selloffs in shares of his group firms.
Adani had recently overtaken Amazon’s Jeff Bezos to become the second richest man in the world.
After losing $6.91 billion of wealth, the Asia’s richest man’s fortune now stands at $135 billion – taking him to the third position on the Bloomberg’s rich list. Bezos with a net worth of $138 billion has returned to the second slot, after gaining $1.36 billion in his wealth.
Tesla chief Elon Musk remained on top position with a fortune of $245 billion as of September 27, 2022.
In top five, two other names are French business magnate Bernard Arnault with a wealth of $127 billion and Microsoft cofounder Bill Gates with a fortune of $106 billion.
Reliance Industries chairman Mukesh Ambani with $82.4 billion wealth is ranked 11th on the billionaires index, which updates and releases a daily ranking of the world’s richest people.
Gautam Adani-led Adani Group is the largest port operator in India. The Ahmedabad, India-based infrastructure group is also India’s largest closely held thermal coal producer and largest coal trader.
The Adani Group recently became India’s most valuable business house in terms of market value of its companies, surpassing the Tata Group. The completion of the acquisition of Ambuja Cement and
ACC helped Adani overtake the Tata Group.
On Tuesday, the richest Asian said his group will invest over $100 billion on capital expenditure over the next one decade. “We have earmarked 70 per cent of this investment for the energy transition space. It is our commitment to invest $70 billion in an integrated green hydrogen-based value chain,” he said.
