The list of the world's wealthiest people now has a new leader. On Monday, September 19, 2022, Gautam Adani, chairman of Adani Group, surpassed LVMH owner and CEO Bernard Arnault to become the world's second-richest person.

Gautam Adani made $5.2 billion in a single day, and according to Forbes' latest billionaire rankings, his wealth is currently $155.5 billion. The number rose from Thursday, September 15, 2022, by $5.2 billion, or 3.49 percent.


Arnault is now in third place, $300 million behind Adani. Adani has also dethroned Jeff Bezos, the founder, and chairman of Amazon, whose wealth has decreased by $2.3 billion, or 1.49 percent.

CEO of Tesla and one of the world's richest people, Elon Musk, has a net worth of $273.5 billion. The Indian tycoon has a stake in six publicly traded firms, including those involved with transportation hubs, green energy, and information storage.

His company's stock is skyrocketing

The new guy on the world's richest men list is no other but Gautam Adani. In February 2022, he surpassed fellow Indian billionaire Mukesh Ambani, worth $93.4 billion, and is ranked No. 8 on the world ranking to become Asia's richest person.

On Thursday, September 15, 2022, shares in his company, Andani Enterprises, sold for a record 3,749.15 rupees, or $46. His Adani Power stock has soared a year thrice due to the increasing need for electricity. The stock price of his renewable energy company went through the roof, too.

What happened to the African richest man (Dangote)

Aliko Dangote is well known in Africa as he still holds the number one position as the richest man. However, the new rich list shows that his businesses are not doing better to challenge the world's richest top 1 to 5 holders his fortune has been declining in the past year, from $22 billion to the current $18.8 billion.

Because of the eight hours of trade on September 14, 2022, $22.0 million (N9.4 billion) was wiped off his wealth. Dangote's fortune was estimated to be $18 billion in September 2021.

Elon Musk is still the world's richest man

You may recall that on Tuesday, September 13, 2022, the stock market plunged, wiping off almost $50 billion in value for the 10 wealthiest men in the world, as reported.

According to Bloomberg, the world's richest man, Elon Musk, lost $8 billion as Tesla stock dropped 4%, while the fortune of the second-richest person, Jeff Bezos, dropped by over $10 billion as Amazon's share price dropped 7%.

Due to a search and advertising slump on Google, the share price of the search engine behemoth dropped by 6 percent, costing Google co-founders Larry Page and Sergey Brin a total of $5 billion.

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