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Gautam Adani rises in Bloomberg Billionaire Index
Adani Group stocks rallied in the stock market and added US$7.67 billion to Gautam Adani's net worth
Gautam Adani / Wikipedia
Earlier this month, Indian entrepreneur Gautam Adani surpassed Reliance Industries' Mukesh Ambani to become Asia's wealthiest person on the Bloomberg Billionaire Index list.
The 61-year-old chairman of Adani Group secured the 12th ranking in the Bloomberg Billionaires Index with a net worth of US$ 97.6 billion, up from 15th spot in December 2023, while Ambani has been positioned at 13th spot in the world list with net worth of US$ 97 billion.
The gains in Adani’s rank came after the Indian Supreme Court ruled against a batch of petitions that requested transfer of the Adani-Hindenburg case to a special investigation team from the Securities and Exchange Board of India (SEBI).
The release of Hindenburg Research report accused the Group of “brazen stock manipulation and accounting fraud,” which resulted in downturn of the stocks. The ruling led to a growth in his company’s shares. Adani Group stocks rallied in the stock market and added US$7.67 billion to Gautam Adani’s net worth.
Elon Musk continues to top the index with a net worth of US$ 220 billion, followed by Jeff Bezos at US$ 169 billion. Two other individuals who featured in the Bloomberg Billionaire Index from India among top 50, include: Shapoor Mistry, a Tata Sons shareholder, with US$ 34.6 billion net worth; Shiv Nadar, HCL Enterprise chairperson, with US$ 33 billion net worth.
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