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From First to Third: HOW COME Jeff Bezos Falling in Billionaire Rankings?

Amazon founder Jeff Bezos is not any longer the next richest person on the planet, in accordance with new figures from the Bloomberg Billionaires Index, as his net worth has suffered a significant decline.

Bezos has been beaten into third place by Indian businessman Gautam Adani, who has seen an instant rise in his net worth in the last and risen from 14th place at the start of the entire year.

The change could be attributed both to Adani’s remarkable success during the last 10 months and a selloff in tech stocks which has occurred since January, denting Bezos’ fortune.

Tesla CEO Elon Musk remains the world’s richest person in Bloomberg’s analysis with a complete net worth of $263.9 billion.

The Bloomberg Billionaires Index found Adani’s total net worth was $146.9 billion in comparison to Bezos’ $145.8 billion.

Adani’s wealth is principally concentrated in the Adani Group, a business that’s involved with several business areas including coal, ports, media and green energy. Shares in a few of the Indian billionaire’s companies have observed a 1,000 percent rise in value since June, 2020.

Shares in his leading company, Adani Enterprises, have observed a far more than 115 percent upsurge in value in 2022. Adani has increased his net worth by around $70 billion previously year.

The fall in Bezos’ net worth is because of a recently available selloff of tech stocks, which Bloomberg reported had reduced his fortune by about $45 billion since January.

His 2019 divorce in addition has contributed to reducing his net worth after his ex-wife, MacKenzie Scott, received a 4 percent stake in Amazon in the divorce settlement – valued at $38 billion.

However, Bloomberg noted that the gap between Bezos and Adani was just $19 million and that the former Amazon CEO could recover his second place position based on the performance of Amazon’s stock.

Bezos isn’t the only real billionaire to see an apparent decline within their fortune this season because the world’s 500 richest people saw a combined lack of $1.4 trillion in the initial 1 / 2 of 2022, based on the Bloomberg Billionaires Index.

That has been despite making major gains through the pandemic and is probable because of economic concerns including near record high rates of inflation that the U.S. along with other nations have already been experiencing.

The Amazon founder was considered the world’s richest person for quite some time. Forbes ranked him therefore in 2018, 2019 and 2020 before he was overtaken by SpaceX founder Elon Musk.

Microsoft founder Bill Gates was the world’s richest person for several years, including for periods in the 1990s, 2000s and 2010s. The most recent figures from Bloomberg rank Gates in fifth place with a net worth of $112 billion.

Jeff Bezos Arrives for a Meeting
Amazon founder Jeff Bezos arrives for his ending up in then British Prime Minister Boris Johnson at the united kingdom diplomatic residence on September 20, 2021 in NEW YORK. Bezos is not any longer the world’s second richest person.Michael M. Santiago/Getty Images

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