Adani Group’s chairman Gautam Adani is now the world’s third-richest person after overtaking France’s Bernard Arnault according to Bloomberg Billionaires Index.

With a total net worth of $137.4 billion, 60-year-old Adani has surpassed the wealth of Louis Vuitton chairman Arnault and is now just behind business magnate Elon Musk and Jeff Bezos in the ranking.

In the latest Bloomberg Billionaires Index, Reliance Industries Chairman Mukesh Ambani is at number 11 with a net worth of $91.9 billion. This is the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index.

The index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.

The net worth of Elon Musk and Jeff Bezos are currently at $251 billion and $153 billion, respectively.

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.