The jostling for the world’s richest people intensified on Friday as three men rotated through the No. 2 spot within 24 hours, demonstrating the volatility of the markets and the meteoric rise of Indian billionaire Gautam Adani on a list long dominated by tech. Titans emphasized.
On Friday morning, Adani defeated French business magnate Bernard Arnault and pushed Amazon founder Jeff Bezos to the No. 4 spot on Forbes’s real-time billionaire rankings. The shake-up didn’t end there, but Adani fell to number 3 by noon, ahead of Bezos.
At 5 p.m. Friday, Arnault was worth $154.7 billion, Adani $152.2 billion and Bezos $146.9 billion. Amazing numbers, either way, but way behind Elon Musk’s $273.2 billion fortune.
As chairman of the Adani Group, a multinational conglomerate, Adani’s portfolio of businesses and investments includes mining, data centers, airports and renewable energy. And his wealth has skyrocketed in the past year, just as the value of the largest US tech companies has declined alongside many of Wall Street’s biggest names.
Here’s what you need to know about Adani: