BUSINESS

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BUSINESS

Gautam Adani becomes richest Indian again

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Adani surpasses Ambani

Gautam Adani, Chairperson of Adani Group, has once again overtaken Mukesh Ambani, Chairperson of Reliance Industries, as India's richest person.

2

Rankings

Adani's fortune now ranks him among the top 12 billionaires globally, while Ambani follows closely at the 13th position. Elon Musk still holds the world's richest person title.

3

Adani's net worth

As of Friday, Adani's net worth stood at $97.6 billion, while Ambani trailed slightly at $97 billion. Adani has gained $7.67 billion from the last listed position.

4

Surge in shares

The increase in Adani's net worth is attributed to a surge in the conglomerate's shares, with Adani Energy soaring by 13% and other subsidiaries also experiencing significant growth.

5

Adani's fall

Hindenburg in its January 2023 report accused Adani of stock manipulation and accounting fraud. The report set off a $69 billion rout in the group's market cap, almost 60% of Adani's fortune.

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Adani's bounce back

However, since then Adani has gained ground and his group of companies' stocks have rebounded quite well. And the latest SC verdict on Adani-Hindenburg case also triggered fresh momentum in Adani's stocks.