Gautam Adani, the chairperson of the Adani Group, has gone past Mukesh Ambani, the head of Reliance Industries, on the Bloomberg Billionaires Index, to become Asia’s wealthiest individual. Adani’s net worth of $97.6 billion positions him as the 12th richest person in the world, climbing from the 15th spot in December 2023.
Adani’s net worth surged by $7.7 billion, reaching $97.6 billion. Meanwhile, according to the index, Ambani’s net worth currently stands at $97 billion.
Earlier, the surge of Adani Group companies on the stock market had taken Gautam Adani to becoming the world’s third-wealthiest individual. However, the subsequent release of the Hindenburg Research report precipitated a downturn in the share prices of the Group’s companies. The Group was accused of “brazen stock manipulation and accounting fraud”.
ADVERTISEMENT
Also Read | Congress doth protest again on Adani, but why SC order and a Telangana invite take sting out
The list comes days after the Supreme Court had rejected demands for a court-monitored probe by the Central Bureau of Investigation or a Special Investigation Team into allegations raised against the Adani Group by Hindenburg Research. The Court also asked the Centre to probe “the loss which has been sustained by Indian investors as a result of the volatility caused by the short positions taken by Hindenburg Research and any other entities acting in concert with Hindenburg Research” and “enquire into whether there was any infraction of law by the entities, which engaged in short-selling on this occasion”.
The verdict had also led to shares of Adani Group of companies making heavy gains.
Also Read | Supreme Court gives 3 months to SEBI to wrap up Adani probe: What is SEBI probing in Adani Group?
Meanwhile, Mukesh Ambani is now positioned at the 13th spot on the index. Despite gaining $764 million since the last ranking change, Ambani has added $665 million to his wealth year-to-date. Other notable Indians on the ranking include Shapoor Mistry at the 38th spot with wealth of $34.6 billion and Shiv Nadar at the 45th spot with $33 billion.
Elon Musk continues to top the index with a net worth of $220 billion, followed by Jeff Bezos at $169 billion.