Gautam Adani Back To No. 3 On Forbes Rich List On Stock Market Crash
Gautam Adani slipped back to the third position on the Forbes real-time billionaires list on Wednesday, displaced by Louis Vuitton's Bernard Arnault in the second place, with about a billion separating the two.
A deep sell-off in Indian benchmark equity indexes led to Mr Adani's net worth declining by $1.27 billion to $140.2 billion, compared to Bernard Arnault's wealth standing at $141.2 billion.
Elon Musk's wealth rose further away to $259.8 billion, well ahead of Bernard Arnault and Gautam Adani, even as Wall Street stocks have collapsed deeper into a bear market, with the S&P 500 enduring its worst run since the beginning of 2020.
But the fall in Indian stocks has been deeper, with domestic benchmarks falling for the sixth straight session on Wednesday after Federal Reserve policymakers reconfirmed an aggressive policy stance in their fight against surging inflation despite increasing recession risks.
That led to domestic investors' wealth erosion, as reflected in Gautam Adani's recent net worth decline.
Amazon boss Jeff Bezos was the fourth on the Forbes rich list, and Reliance's Mukesh Ambani at number eight.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
