Gautam Adani Overtakes Mukesh Ambani As Asia's Richest Person Amid Adani Group Stocks' Surge

2024 has indeed begun as a happy new year for Gautam Adani and his conglomerate Adani Group. Just a couple of days after its big win that came when the Supreme Court ruled in its favour, the surge in Adani group stocks has helped billionaire Gautam Adani reclaim the title that he had lost about a year ago to Mukesh Ambani.

Gautam Adani Overtakes Mukesh Ambani As India's Richest Person

reuters

61-year-old Gautam Adani has reclaimed the title of being India's as well as Asia¡¯s richest person, with his net worth going past that of Reliance Industries chairman Mukesh Ambani.

As per the Bloomberg billionaire index, Adani's net worth has surged more than $13 billion this year to hit the $97.6 billion mark. The $7.6 billion surge in a single day yesterday is what helped Adani overtake Mukesh Ambani, with Reliance Industries' chairman's net worth currently being $97 billion. With Adani stocks on a surge, Gautam Adani's net worth seems set to keep growing further.

bloomberg

Also Read: List Of All Companies That Come Under Adani Group

When Had Ambani Overtaken Adani?

forbes

Last year, on February 1, 2023, as the bloodbath in Adani Group shares continued to erode the billionaire's net worth, Gautam Adani lost his position as India's and Asia's richest person to Ambani. Adani was also the world's third-richest person at the beginning of 2023.

As per Forbes' real-time billionaires list at that time, Gautam Adani had a net worth of $75.1 billion, whereas Mukesh Ambani had a net worth of $83.7 billion.

Also Read: Gautam Adani's Son Karan Adani Named New MD In Major Rejig At Adani Ports

Hindenburg Research's Attack On Adani Group

indiatimes

NEW FROM US:

Adani Group ¨C How The World¡¯s 3rd Richest Man Is Pulling The Largest Con In Corporate Historyhttps://t.co/JkZFt60V7f

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¡ª Hindenburg Research (@HindenburgRes) January 25, 2023

In January last year, US-based investment research and short-selling firm Hindenburg came out with a report mentioning how Gautam Adani is pulling the largest con in corporate history. Hindenburg mentioned that, based on its research, it has taken a short position in Adani Group Companies through U.S.-traded bonds and non-Indian-traded derivative instruments. It has accused the Adani Group of accounting frauds, stock manipulations, and money laundering. Click here to know more about it.

Also Read: Meet Nathan Anderson, The Man Behind Hindenburg Report

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