Gautam Adani overtakes Louis Vuitton's Bernard Arnault to become world's second richest person briefly

Business conglomerate Adani Group's chairman Gautam Adani is now the world's second-richest person after overtaking Louis Vuitton's Bernard Arnault, according to Forbes' Real-Time Billionaires List. At the time of writing this report, Gautam Adani's net worth was $153.9 billion, compared to Arnault's net worth of $153.7 billion.

Adani is now just behind business magnate Elon Musk, according to Forbes' data. Elon Musk's net worth is way higher at $273.5 billion. Mukesh Ambani is at number eight with a total net worth of $91.9 billion.

Gautam Adani is a first-generation entrepreneur and the Adani Group comprises seven publicly listed entities with businesses spanning energy, ports and logistics, mining and resources, gas, defence and aerospace and airports. The group has established a leadership position in India in each of its business areas. The Adani Group is the third largest conglomerate (after Reliance Industries and the Tata Group) in India. Listed Adani group companies are Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Power, Adani Total Gas, and Adani Transmission.