Gautam Adani overtakes Mukesh Ambani, again regains the position of Asia’s richest person
After a bumpy ride in the wealth rankings last year, Gautam Adani He became Asia’s richest man, days after India’s top court said no new investigation was needed into Hindenburg Research’s allegations against the tycoon group.
Adani’s net worth increased by $7.7 billion in a day to $97.6 billion, helping his Indian compatriot take the top spot in the sector. Mukesh AmbaniAccording to the Bloomberg Billionaires Index, the index showed that Reliance Industries Ltd Chairman Ambani was trailing by a slim margin with a net worth of $97 billion.
The return of a first-generation entrepreneur who started out as a diamond trader in the 1980s caps an eventful year for Adani’s ports-to-power conglomerate. Despite Hindenburg’s denial of allegations of corporate fraud. Adani Group It lost more than $150 billion in market value at one point last year and took months to woo investors, lenders, repay debt and overcome regulatory concerns.
Adani Group shares rose this week after India’s Supreme Court ordered the local markets regulator to conclude its investigation into the group within three months and said no further investigation was needed, effectively ending the year. is drawing a line under the short-seller saga.
The court relief netted Adani $13.3 billion in assets — the world’s largest this year — after it recorded one of the world’s biggest asset losses in 2023.
Adani, whose group has pledged to invest $100 billion over the next decade for a green transformation of its businesses, is also looking to expand its empire beyond its coal trading sources into data centres, artificial intelligence, urban development, airports and media. is back to diversifying rapidly.
Adani’s net worth increased by $7.7 billion in a day to $97.6 billion, helping his Indian compatriot take the top spot in the sector. Mukesh AmbaniAccording to the Bloomberg Billionaires Index, the index showed that Reliance Industries Ltd Chairman Ambani was trailing by a slim margin with a net worth of $97 billion.
The return of a first-generation entrepreneur who started out as a diamond trader in the 1980s caps an eventful year for Adani’s ports-to-power conglomerate. Despite Hindenburg’s denial of allegations of corporate fraud. Adani Group It lost more than $150 billion in market value at one point last year and took months to woo investors, lenders, repay debt and overcome regulatory concerns.
Adani Group shares rose this week after India’s Supreme Court ordered the local markets regulator to conclude its investigation into the group within three months and said no further investigation was needed, effectively ending the year. is drawing a line under the short-seller saga.
The court relief netted Adani $13.3 billion in assets — the world’s largest this year — after it recorded one of the world’s biggest asset losses in 2023.
Adani, whose group has pledged to invest $100 billion over the next decade for a green transformation of its businesses, is also looking to expand its empire beyond its coal trading sources into data centres, artificial intelligence, urban development, airports and media. is back to diversifying rapidly.
