Gautam Adani went from Asia's richest man to losing $60 billion after a scathing short-seller report. Here are the new top 5 wealthiest people on earth.
Gautam Adani was the world's third richest person at the end of 2022, but that has changed.
Adani lost $60 billion after a scathing short-report from Hindenburg Research last month targeted his companies.
These are the new top five wealthiest people after Adani fell to the world's 21st richest person.
In a matter of weeks, Indian businessman Gautam Adani has lost $60 billion after a scathing short-report from Hindenburg Research targeted his web of industrial companies.
At the start of the year, Adani was Asia's richest man and was the world's third richest person. Now, he has fallen to the 21st richest person on earth as investors question the integrity of his various companies. Adani currently has a net worth of about $61 billion, according to data from Bloomberg. At his peak in September, Adani was worth $150 billion.
The fall from grace for Adani has shaken up the Bloomberg Billionaire's Index, as has the remarkable year-to-date rally in the stock market.
The surge in tech stocks, with the Nasdaq 100 up 15% so far this year, has created more than $60 billion in wealth for some of America's tech founders, like Elon Musk and Jeff Bezos.
These are the world's top five richest people, according to data from Bloomberg.
5. Warren Buffett
Net Worth: $108 billion
YTD Change: +$1 billion
Company Ownership: Berkshire Hathaway
4. Bill Gates
Net Worth: $115 billion
YTD Change: +$1.1 billion
Company Ownership: Microsoft
3. Jeff Bezos
Net Worth: $136 billion
YTD Change: +$29.3 billion
Company Ownership: Amazon
2. Elon Musk
Net Worth: $174 billion
YTD Change: +$36.5 billion
Company Ownership: Tesla, SpaceX, OpenAI
1. Bernard Arnault
Net Worth: $193 billion
YTD Change: +$30.7 billion
Company Ownership: LVMH
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