Amazon founder Jeff Bezos's wealth surged as Wall Street stocks rallied, and as a result, he has now jumped to the second richest on the Real-Time Billionaires List compiled by Forbes, surpassing Louis Vitton's Bernard Arnault and Gautam Adani.
After languishing in the fourth position since September 16, Jeff Bezos's net worth jumped by $3.6 billion to $141.4 billion, making him the second richest in the world on the Forbes list, overtaking Bernard Arnault and India's Gautam Adani.
While a deep sell-off in US stocks had lowered the wealth of American billionaires, driven by expectations for an even more aggressive Federal Reserve after the red-hot inflation reading, Wall Street shares rallied on Wednesday, with the S&P 500 snapping a six-day losing streak to surge nearly 2 per cent.
That rally in US bourses boosted Jeff Bezos's wealth, even as the difference between him and number 3 placed Bernard Arnault was only about $1.4 billion. Louis Vitton's Bernard Arnault's net worth stood at $140.4 billion.
According to Forbes, Gautam Adani slipped to the fourth position, with his wealth now at $139.1 billion.
Mr Adani's wealth dropped $796 million on Thursday, even as Indian equity benchmarks recovered from a six-session losing streak.
Elon Musk remained the world's richest person, with a net worth of 263.2 billion.
However, the rankings on the list have been fluctuating in recent weeks, reflecting the volatility in broader global equity markets, see-sawing between gains on one day and losses on another.
Gautam Adani's ranking on the list has see-sawed between the second, third and the latest to the fourth position, almost on a daily basis.