Gautam Adani Close To Replacing Mukesh Ambani As Asia's Richest Person Amid Adani Group Stocks' Surge

After remaining out of the world¡¯s 20 richest people list for most of this year due to Hindenburg Research's report, it seems that Gautam Adani will end 2023 on a high note. The billionaire¡¯s wealth surged about $12 billion on Tuesday, making him climb to 15th spot on the list. Adani is now close to reclaiming the title of India as well as Asia¡¯s richest person from Mukesh Ambani.

What Is Gautam Adani¡¯s Net Worth?

reuters

After adding $12.3 billion in a single day on Tuesday, Gautam Adani's current net worth stands at $82.5 billion (as per the Bloomberg Billionaire Index). He is currently the 15th richest person on the list.

How Close Is Adani From Replacing Ambani As Asia's Richest Person?

Earlier this year, Mukesh Ambani had replaced Adani as Asia's richest person in February, soon after Hindenburg research's report came out and rattled the Adani group's stocks as well as Gautam Adani's net worth which kept on bleeding heavily.

forbes

Mukesh Ambani currently has a net worth of $91.4 billion and stands at 13th position on the Bloomberg billionaire index, implying that Adani's $82.5 billion is just about $9 billion shy of Ambani's. If Adani group stocks continue to surge the way they did yesterday, Adani seems set to reclaim the title of Asia's richest person soon.

bloomberg-billionaire-index

Also Read; Hindenburg Trolled For Failing To Detect SVB Crisis

Why Are Adani Group Stocks Surging This Week?

Shares of all Adani group companies have been surging since Monday after PM Modi's BJP emerged victorious in three key state elections when votes were tallied on Sunday. Adani, who is considered to be close to Modi, got a massive boost with shares of his group companies notching up double-digit gains, as per Forbes report.

Shares of three listed Adani Group companies jumped 20% on Tuesday after a report by the U.S. International Development Finance Corporation concluded that Hindenburg research's allegations against the Adani Group were ¡°irrelevant¡±.

Adani stocks had started rallying last week after the Supreme Court had observed that it had no reason to "discredit" market regulator Securities and Exchange Board of India's (SEBI) probe against the group. Click here to know more.

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