Amazon founder Jeff Bezos's wealth surged as Wall Street stock, and as a result he has now jumped to the second richest.
Amazon founder Jeff Bezos's wealth surged as Wall Street stocks rallied, and as a result, he has now jumped to the second richest on the Real Time Billionaires List complied by Forbs, surpassing Louis Vitton's Bernard Arnault and Goutam Adani.
After languishing in the fourth position since September 16, Jeff Bezos's net worth jumped by $3.6 billion to $141.4 billion, making him the second richest person in the world on the Forbes list, overtaking Bernard Arnault and Goutam Adani.
While a deep sell-off in US stocks and lowered the wealth of American billionaires, driven by expectations for an even more aggressive Federal Reserve after the red-hot inflation reading. Will Street shares rallied on Wednesday, With the S and P snapping a six-day losing streak to surge nearly 2 percent.
The rally in US bourses boosted Jeff Bezos's wealth, even as the difference between him and number 3 placed Bernard Arnault was only about $1.4 billion. Louis Vitton's Bernard's net worth stood at $140.4 billion.
According to Forbes, Goutam Adani slipped to the fourth position, with his weal now at $139.1 billion.
Mr. Adani's wealth dropped $796 billion On Thursday, even as Indian equity benchmarks recovered from a six-session losing streak.
Elon Musk remained the world's richest person, with a net worth of 263.2 billion.
However, the rankings on the list have been fluctuating in recent weeks, reflecting the volatility in broader global quity markets, see-sawing between gains on one day and losses on another.
Goutam Adani's ranking on the list see-sawed between the second, third and the latest to the fourth position, almost on a daily basis.
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