Gautam Adani Back Among World’s 20 Richest People After Stock Surge
Adani now ranks 19 on the Bloomberg Billionaires Index with a net worth of $66.7 billion as on Nov. 29.
Billionaire Gautam Adani is back in the league of the world’s 20 richest people after the recent surge in the shares of group companies.
Adani now ranks 19 on the Bloomberg Billionaires Index with a net worth of $66.7 billion as on Nov. 29.
Adani Group stocks added more than Rs 1.34 lakh crore in investor wealth on Tuesday. While the group’s market capitalisation lost some of the gains on Wednesday, the surge propelled Adani into the top 20.
Shares of Adani Group companies rose after the Supreme Court upheld its confidence in SEBI’s probe into the Hindenburg allegations. The top court, while hearing the matter last week, asked the petitioners, "where is the matter to doubt" the regulator.
Chief Justice of India DY Chandrachud also questioned the "wisdom" of the allegations of conflict of interest against members of the committee that the top court appointed to look into the fallout of the short-seller attack.
Adani Group shares have rebounded since the initial plunge following Hindenburg’s allegations of stock manipulation. The group called the claims malicious.
Global Rich League
Adani is the second richest Indian on the list after Reliance Industries Ltd. Chairman Mukesh Ambani.
Tesla Inc CEO Elon Musk remains the world's richest man with a net worth of $228 billion, followed by Amazon’s Jeff Bezos at $171 billion and LVMH CEO Bernard Arnault at $167 billion.
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