Billionaire Gautam Adani was knocked back to the No. 3 position among Asia’s richest people within a few weeks of grabbing the second spot, as the Indian business tycoon lost $13 billion in four days following a massive sell-off in shares of Adani group companies.
Adani currently has a net worth of $63.5 billion, sharply lower than the $76.7 billion at the start of this week.
Mukesh Ambani, who controls the retail-to-oil conglomerate Reliance Industries Ltd, continues to top Asia’s rich list with a net worth of $84 billion, according to the Bloomberg Billionaire Index.
China’s Zhong Shanshan regained the second spot from Adani. The Indian business magnate had in April overtaken Zhong when shares of the Adani group almost doubled since January.
