Billionaire and chairman of the Adani Group Gautam Adani, has reclaimed the title of richest Indian and is now the richest person in Asia following an order by the Supreme Court in his favour during the hearing of petitions pertaining to the Adani-Hindenburg controversy.<\/p>\n\n\n\n
Over the past year, Gautam Adani’s wealth has fluctuated significantly. In January 2023, when Hindenburg Research published its study on the company, he lost more than 34% of his net worth.<\/p>\n\n\n\n
Furthermore, as per the Bloomberg Index, Gautam Adani has surpassed Reliance Industries chairman Mukesh Ambani to become the richest person in Asia and India. On Bloomberg’s global billionaires index, Adani is now ranked 12th, and Ambani is ranked 13th.<\/p>\n\n\n\n
Gautam Adani’s overall net worth as of January 5 was $97.6 billion, and Mukesh Ambani’s net worth of $97 billion was just $1 billion less than the businessman’s. Moreover, Adani emerged as one of India’s wealthiest individuals throughout this fiscal year.<\/p>\n\n\n\n
Earlier,\u00a0Mukesh Ambani’s victory, Savitri Jindal of Jindal Steel was the biggest fortune gainer. Gautam Adani has since regained his fortune and experienced the largest increase in net worth in India in 2023.<\/p>\n\n\n\n
Gautam Adani became the world’s largest net worth gainer in a single day, with his net worth increasing by $7.7 billion and his overall wealth increasing by $13.3 billion. Ambani has increased his net worth by $10 billion this year, placing him in second place.<\/p>\n\n\n\n
Adani Group chairman Gautam Adani was accused of corporate and financial fraud in a report published by Hindenburg Research in January 2023, which caused the business to lose over $150 billion in market value.<\/p>\n\n\n\n
The Supreme Court of India this week effectively put an end to the year-long short-seller drama by ordering the local markets regulator to wrap up its inquiry against the conglomerate within three months and declaring that no further investigations were necessary, which caused Adani Group’s stocks to spike.<\/p>\n\n\n\n
Two of the 24\u00a0petitions in the case are still pending inquiry after the Supreme Court denied the necessity for a SIT probe. The bench of the supreme court discussed the losses suffered by investors as a result of the report and stated that their authority to intervene in SEBI’s investigations is limited.<\/p>\n","protected":false},"excerpt":{"rendered":"
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