After more than a year since he lost the title of being not just India¡¯s richest person but also world¡¯s third richest person, Gautam Adani is inching towards recovering the damage done by Hindenburg¡¯s research report.
Gautam Adani¡¯s net worth has crossed the $100 billion mark for the first time since Hindenburg report rattled the billionaire¡¯s fortune as well as the stocks of the entire Adani group.?On Wednesday, Adani¡¯s net worth climbed $2.73 billion to $100.1 billion, taking his cumulative net worth jump this year to $16.4 billion.?
With his entry into the $100 billion club, Gautam Adani is now the 12th-richest person in the world, just one spot behind Reliance Industries¡¯ chairman Mukesh Ambani, as per Bloomberg Billionaires Index.
Mukesh Ambani¡¯s net worth at present is $108 billion, which is just $7 billion more than Adani¡¯s $101 billion.?
Earlier this year, just a couple of days after the Supreme Court ruled in its favour, Adani group stocks¡¯ surge had helped billionaire Adani reclaim the title that he had lost about a year ago to Mukesh Ambani. But then he lost that title soon when Ambani¡¯s wealth began to surge in January.
Earlier in January, people familiar with the discussions said Adani Green is in talks to raise about $500 million via dollar bonds in its first overseas issuance since the Hindenburg report, as per Bloomberg.?Last month, the Supreme Court of India ordered the local markets regulator to conclude an investigation into the group within three months and said no more probes were needed, helping boost shares of Adani Enterprises.
US based short seller Hindenburg research¡¯s report had attacked Gautam Adani and his business empire on January 24th 2023, alleging that the billionaire is pulling the largest con in corporate history. Hindenburg report had claimed that it has evidence of Adani group conducting accounting fraud, stock manipulation, and money laundering.?
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