The meeting of the world’s richest people intensified on Friday as three men rotated through the No. 2 spot in the space of 24 hours, highlighting the volatility of markets and the meteoric rise of Indian billionaire Gautam Adani on a list long dominated by tech titans.
On Friday morning, Adani edged out French business magnate Bernard Arnault and pushed Amazon founder Jeff Bezos down to number 4 on Forbes̵[ads1]7; real-time billionaire ranking. The shake-up didn’t stop there, but Adani fell to No. 3, ahead of Bezos, in the afternoon.
As of 5pm on Friday, Arnault was worth $154.7 billion, Adani $152.2 billion and Bezos $146.9 billion. Staggering figures by any measure, but well behind Elon Musk’s fortune of 273.2 billion dollars.
As chairman of Adani Group, a multinational conglomerate, Adani’s portfolio of companies and investments includes coal mining, data centers, airports and renewable energy. And his fortune has soared in the past year, just as the value of America’s biggest tech companies has fallen along with many of Wall Street’s biggest names.
Here’s what you need to know about Adani: