With a sharp fall in shares of Tesla, the wealth of SpaceX and Tesla CEO Elon Musk has fallen $96 billion this calendar. Bernard Arnault, the second richest, too has lost $34.5 billion in wealth this year, as per the publicly available Bloomberg Billionaire index.
With this, India’s richest Gautam Adani, who has seen a rise of $60 billion in fortunes this year, at $137 billion, is just $7 billion away from reclaiming the second spot on the billionaire index. Adani needs another $37 billion to unseat Musk from the top spot.
Data showed Tesla shares have lost 20 per cent of value in just one month. Out of that, 16 per cent drop has come only in the past five sessions, as Musk sold Tesla shares after Twitter deal. Year-to-date, Tesla stock has lost 56 per cent of its value.
Arnault’s wealth, on the other hand, hit $183 billon level, sometime in January this year. It has been falling since. Shares of LVMH Moet Hennessy Louis Vuitton have dropped around 10 per cent this year.
While Adani’s wealth has also been falling after topping $150 billion in September, he has not lost much.
Shares of Adani Power have soared 254 per cent this year. Adani Enterprises has zoomed 133 per cent this calendar while those of group firm Adani Total Gas have climbed 111 per cent during the same period. Adani Transmission is up 90 per cent year-to-date; Adani Green has jumped 62 per cent while Adani Ports is up 20 per cent this calendar.
Among these firms, Adani Enterprises has announced doubling of Q2 profits at Rs 461 crore.
Adani Ports, on the other hand, reported a 68.5 per cent YoY rise in consolidated profit at Rs 1,677.48 crore. Adani Transmission’s profit declined 32 per cent YoY while Adani Total Gas’ profit was flat. Adani Green was scheduled to declare Q2 results on Thursday .
Adani had in September briefly claimed the second spot on the global billionaires list. Later, he regained the second spot.
Adani and India’s second richest Mukesh Ambani (up $541 million) are the only two billionaires in the list of top 10, which have gained wealth this year.
Jeff Bezos of Amazon has lost $83 billion, Microsoft’s BIll Gates is down almost $30 billion while Berkshire Hathaway’s Warren Buffett has seen $8 billion fall in his fortunes, as per the Bloomberg list.
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