Gautam Adani briefly became the second richest person in the world on the Real-Time Billionaires List compiled by TNZT, but bounced between number two and number three on the list, similar to the pattern seen Friday.
After Indian markets closed Monday, Adani’s net worth rose $1.4 billion to $153.5 billion, surpassing Louis Vitton’s Bernard Arnault, whose net worth fell $1.8 billion to $153.4, according to TNZT. billion.
But that soon turned around when Bernard Arnault’s net worth reached $153.8 billion, which put him second on the TNZT list, compared to Gautam Adani’s $153.5 billion.
On Monday, Indian equities recovered from last week’s market chaos and were higher in a volatile session, fluctuating between gains and losses, defying broad global risk-out sentiment.
World stocks were tense and sluggish, and the dollar strengthened in anticipation of the looming and widest rate hikes from major central banks due to take place this week.
On Friday, Gautam Adani had briefly caught up with Bernard Arnault, but a domestic equity carnage pushed him into third place ahead of Amazon founder Jeff Bezos.
According to Bloomberg, the rise of Gautam Adani’s wealth has boosted the country’s equities and increased the influence of emerging market equities.