Adani marks 2 big milestones in one day; becomes Asia's richest & world's 10th richest

Indian industrialist Gautam Adani marked a new milestone in his business career by becoming Asia’s richest person and the 10th richest person in the world, registering a net worth of US$90.5 billion, as per Forbes' Real-Time Billionaire calculations on February 3. According to Forbes, Adani narrowly beat fellow Indian billionaire Mukesh Ambani, the chairman of Reliance Industries, who is valued at only US$100 million less than Adani's net worth. It is pertinent to mention here that prior to Adani, Mukesh Ambani held the title of Asia's richest person.

Forbes' Real-Time Billionaires rankings track the fortunes of the world's wealthiest people on a daily basis. The wealth-tracking tool keeps track of each person's net worth and status as a billionaire, as determined by Forbes. When relevant stock markets are open, the value of individuals' public holdings is updated every five minutes (there is a 15-minute delay for stock prices). The net worth of those whose fortunes are heavily influenced by private enterprises is updated once a day.

Adani, Ambani richer than Zuckerberg

With a net worth of $ 84.8 billion, Mark Zuckerberg has climbed to 12th place. Zuckerberg's fortune, however, has plummeted by $ 30 billion, and Indian billionaires Gautam Adani and Mukesh Ambani are now wealthier than the Meta Platforms' CEO. On February 3, the Zuckerberg-led company's shares plummeted by at least 26%, dropping over $200 billion. This came after the firm reported its first-ever drop in Facebook daily active users in the fourth quarter of 2021. This was the most significant single-day drop in the market value of a US-based company to date. Elon Musk, the CEO of Tesla, is in first place with a net worth of $ 232 billion. 

Jeff Bezos' fortune likely to shift

Moreover, following Amazon's big earnings, billionaire Jeff Bezos' net worth is expected to shift. Bezos' net wealth is likely to increase by roughly $20 billion. His new net worth comes on the heels of Amazon's profit surge due to investments in Rivian, an electric vehicle startup. Last year, Bezos' fortune increased by 57% to $177 billion, owing largely to Amazon's success during the COVID-19 epidemic. Due to the pandemic, more people are turning to online shopping.

Meanwhile, as COVID-19 spreads in India, it has been revealed that the country's wealthiest people have more than doubled their fortunes, while poverty has worsened. According to Oxfam Davos 2022 report, India added 40 billionaires to its list of 142 in 2021, with a total fortune of about $720 billion, more than the poorest 40% of the population.

(With inputs from agencies)

Image: ANI