Gautam Adani listed as world’s second-richest person on Forbes
Billionaire Gautam Adani became the world’s second-richest person on Monday on the Real-Time Billionaires List compiled by Forbes, after a brief stint on Friday, as Indian equities defied a broad sell-off in global risk assets on Monday.
Mr Adani’s net valuation rose by $2.1 billion on Monday to $154.1 billion currently, surpassing Louis Vitton’s Bernard Arnault, whose wealth dropped by $2.6 billion to $152.6 billion, according to Forbes.
On Monday, Indian equities recovered from last week’s market mayhem and were higher in a volatile session, swinging between gains and losses, defying a broad global risk-off sentiment.
World equities were tensed and on the backfoot, and the dollar firmed in anticipation of looming and broadest rate hikes from major central banks set to meet this week.
On Friday, Gautam Adani had briefly overtaken Bernard Arnault, but a bloodbath in domestic equities pushed him to the third spot ahead of Amazon founder Jeff Bezos.
The rise of Gautam Adani to the second-richest person in the world has boosted the country’s stocks and increased their influence among emerging-market equities, according to Bloomberg.
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