Indian business mogul Gautam Adani has become the second-richest person in the world with an estimated $146.8 billion fortune, moving Amazon founder Jeff Bezos down to No. 3, according to Bloomberg’s Billionaire Index.

Adani is the first person from Asia to rank in the top three of the index, Bloomberg reported, when the billionaire came into third place last month. Elon Musk remains the No. 1 richest person in the world with an estimated $263.9 billion.

The founder and chairman of the Adani Group industrial conglomerate in India has seen significant and rapid growth in his wealth this year, surpassing fellow Indian businessman Mukesh Ambani, Bill Gates and Warren Buffet on the index. The business mogul began 2022 in the 14th spot on the ranking, taking just months to reach the No.2 spot, Bloomberg reported.

Adani added $60.9 billion to his fortune this year alone, while others on the list have lost money, Bloomberg found. In July, Bill Gates — currently No. 5 on the list — pledged $20 billion to the Bill and Melinda Gates Foundation, the Associated Press reported. Warren Buffett — No. 6 on the list — has already donated more than $30 billion to the Gates Foundation, according to the AP.

Jeff Bezos’ fortune dropped on Tuesday — making room for Adani to pass him on the billionaire’s index — when Amazon stock dropped due to new inflation data.

Adani, a college dropout, built his wealth in the coal industry and now owns seven publicly owned businesses under the Adani Group in industries like energy, mining, airports and defense. The mogul has faced criticism from environmentalists over mining operations, but pledged $70 billion last year to green energy, which would make the Adani Group the world’s largest renewable-energy producer, according to Bloomberg.