Jeff Bezos Gets Overtaken On Forbes Rich List By Indian Industrialist As Latter Adds $2.8B In Single Day

Indian billionaire Gautam Adani surpassed Amazon.com Inc (NASDAQ: AMZN) founder Jeff Bezos to become the world's third richest person, according to the Forbes real-time billionaires list, after gaining $2.8 billion in a day on Wednesday.

What Happened: With Tesla Inc (NASDAQ: TSLA) CEO Elon Musk and Louis Vuitton (OTC: LVMUY) boss Bernard Arnault occupying the top two spots in the Forbes Real-time Billionaire List, Adani stood third with his fortune at $149.1 billion.

Last week — on Bloomberg's list of the world's 500 wealthiest people — Adani surpassed Arnault to gain the third spot after his net worth swelled as much as $67 billion in 2022.

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After Beating Bezos, Adani became the first Asian business magnate to achieve this feat on the Forbes list as well as the Bloomberg Billionaire Index.

Adani is also the biggest wealth gainer in 2022; Forbes estimates showed that his wealth was inching closer to Arnault, whose net worth is estimated at $154.4 billion. However, he remains $104.3 billion away from Musk, whose fortune stood at $253.4 billion.

The steep rise in Adani's net worth came after the combined market capitalization of the Adani group companies this year exceeded $200 billion. Recently, a CreditSights report warned that Adani's conglomerate is "deeply overleveraged," with the group investing aggressively across existing as well as new businesses, predominantly funded with debt.

Meanwhile, the net worth of Adani's peer, Reliance Industries chairman Mukesh Ambani, stood at $94 billion, making him the eighth richest person in the world and the second richest in India.

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Photo: Courtesy of Wikimedia Commons