Elon Musk, Gautam Adani lose over ₹1 lakh crore: Report

insidetrack IndiaSeptember 24, 2022

815 2 minutes read

Stock markets crashed on Friday leading to the drop in wealth of the world’s top 70 billionaires according to the Bloomberg Billionaires Index. The super rich tycoons including Elon Musk, Gautam Adani, Jeff Bezos and others saw their wealth drop as the markets across the world fell. Elon Musk, the world’s richest man, lost $9.03 billion ( ₹73,373 crore) as his wealth stood at $245 billion ( ₹19.90 lakh crore). On the other hand, billionaire tycoon Gautam Adani lost $3.50 billion ( ₹28,439 crore) and now his wealth stands at $142 billion ( ₹11.53 lakh crore). Amazon founder Jeff Bezos lost $3.72 billion ( ₹30,227 crore) while Louis Vitton boss Bernard Arnault saw his wealth plummet by $5.75 billion ( ₹46,721 crore). The other Indian in the list, Mukesh Ambani, lost $1.77 billion ( ₹14,382 crore) and occupies the ninth spot on the global rich list. However, Adani remains the richest Indian as per the IIFL Wealth Hurun India rich list 2022. With a net worth of more than ₹11 lakh crore, he continues to occupy the top spot and is followed by Reliance Industries chairman Mukesh Ambani. The list also stated that Adani earned ₹1,600 crore per day since 2021.On Friday, the Sensex crashed by 1,020 points and extended the decline for the third straight day. However, the global markets tumbled after the Federal Reserve raised its key interest rate on Wednesday by three-quarters of a point for the third straight time as a move to fight inflation, AP reported.The Federal Reserve officials have also forecast of raising their benchmark rate to roughly 4.4 per cent by the year end, which is a full percentage point higher than what they had forecast in June.

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insidetrack IndiaSeptember 24, 2022

815 2 minutes read

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