Jeff Bezos just lost his status as the world’s second-richest person, dropping to No. 3 as Indian business mogul Gautam Adani rapidly climbs the ranks of Bloomberg’s Billionaire Index.
Elon Musk, still the No. 1 wealthiest person with $260 billion to his name, may need to watch his back. Adani has taken less than 10 months to reach the No. 2 spot after starting the year in 14th.
Adani’s $146.9 billion fortune, largely tied up in holdings of his sprawling Adani Group conglomerate, still trails well behind Musk’s $260 billion.
Bezos’s net worth slumped to $145.8 billion, according to Bloomberg, as tech stocks were hit hard amid a broader equities selloff Friday. Amazon shares fell 3% in early trading, and the stock is down more than 25% this year.
The Amazon founder previously ranked No. 1 on the list, but his wealth took a hit after his 2019 divorce. Much of his wealth is tied up in Amazon stock. According to Bloomberg, the tech selloff has shaved $45 billion off Bezos’ net worth since January.
