Gautam Adani Becomes Richest Indian

The owner of the Adani Group, Gautam Adani, has once again made a remarkable leap, securing the title of Asia’s second-richest individual. In just one day, Gautam Adani has achieved a record-breaking increase in his wealth, with a surge of $52.5 million within 24 hours.

Among the world’s wealthiest, Gautam Adani has climbed to the 18th position. After this significant leap, Adani has surpassed China’s billionaire Zhong Shanshan. Zhong Shanshan ranks 19th in the list of wealthy individuals globally, with a total wealth of $61.9 billion. It’s worth noting that Zhong Shanshan had long held the position of Asia’s second-richest person, but Gautam Adani had previously surpassed him. However, later, the Chinese billionaire reclaimed the spot, and once again, Adani has overtaken him.

Gautam Adani’s Net Worth Update:

According to the Bloomberg Billionaires Index, Gautam Adani has witnessed a substantial increase in his net worth in the last 24 hours. His net worth has surged by a remarkable $7.6 billion, reaching a total of $97.6 billion. In comparison, Mukesh Ambani’s wealth is $97 billion. Mukesh Ambani’s net worth also saw a boost of $764 million in the last 24 hours. Initially, Gautam Adani was ranked 14th among the world’s richest individuals on Thursday. However, due to the impressive surge in Adani Group’s shares, he climbed to the 12th position on Friday, becoming Asia’s and India’s wealthiest person.

Reasons Behind Gautam Adani’s Rapid Wealth Increase:

The Adani Group’s stocks have witnessed a significant surge since the Supreme Court’s decision in the Adani-Hindenburg case. The share prices of Adani Group soared even on Friday, with companies like Adani Ports and ACC Cement showing continued upward momentum.

The Supreme Court’s ruling provided relief to the Adani Group after the Adani-Hindenburg case, affirming the Securities and Exchange Board of India’s (SEBI) investigation. The court granted an additional three months for SEBI to investigate the two remaining cases out of the 24, while 22 cases have already been concluded. The court found no shortcomings in SEBI’s investigation and rejected the plea to transfer the case to the Special Investigation Team (SIT). The positive outcome from the Supreme Court has directly impacted the Adani Group’s share prices, leading to a surge in Gautam Adani’s net worth.

Adani’s Recovery Track:

On January 24, a report from the American short-selling firm Hindenburg raised serious allegations against Gautam Adani’s companies, leading to a significant decline in the market capitalization of Adani Group. Subsequently, Gautam Adani’s net worth also experienced a substantial decrease, dropping to the 36th position among the world’s wealthiest individuals. However, Adani Group has made a significant recovery since then.

The World’s Top 3 Richest Individuals:

At the top of the list of the world’s billionaires is Elon Musk, the owner of SpaceX, Starlink, and Tesla, with a net worth of $220 billion. Following him in the second position is Jeff Bezos, the founder of Amazon, with a total wealth of $169 billion. Bernard Arnault, the owner of the luxury fashion brand LV, holds the third position with a total net worth of $168 billion.

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