Gautam Adani surpasses Mukesh Ambani as the richest Indian after Hindenburg verdict
Jan 5, 2024, 11:25 IST
- Gautam Adani has once again emerged as India’s richest man.
- Adani has dethroned Reliance Industries chief Mukesh Ambani to claim the title of the richest Indian.
- Adani has added $7.67 billion to take his total net worth to $97.6 billion.
Advertisement
Gautam Adani, the chairperson of the Adani Group has once again emerged as India’s richest man, beating Mukesh Ambani. Adani has been inching closer to Ambani for some time now, thanks to the bull run in his stocks.
Adani’s personal wealth, which is linked to the value of his nine listed entities, had suffered a blow after the Hindenburg saga. Now, with most of those troubles on the back burner, his wealth has crossed that of the Reliance chief.
This comes soon after Adani received a boost after the Indian Supreme Court passed a verdict in favour of the company. In its verdict in the Adani-Hindenburg row, the apex court said that the facts of the case do not warrant transfer of probe to Special Investigation Team (SIT) or any other agency.
Gautam Adani adds $7.67 billion
Gautam Adani has added $7.67 billion in his wealth to dethrone Mukesh Ambani as India’s richest man. With this, Adani’s net worth stands at $97.6 billion, according to the Bloomberg Billionaires Index. During the same period, Ambani’s net worth has increased by $764 million to reach $97 billion. Adani is now $600 million ahead of Ambani.
Advertisement
This comes close the one-year anniversary of the Hindenburg saga, when the US-based short seller Hindenburg Researcher released a report alleging stock manipulation and accounting fraud in the Adani Group companies
Adani, who was briefly the second richest person in the world on the Bloomberg Billionaires Index, saw his wealth plummet from $119 billion on January 24, 2023 to $57.2 billion in March 2023. Since then, he has added over $40 billion in net worth to reach $97.6 billion.
Gautam Adani has now climbed to the 12th rank and Ambani is holding the 13th position when it comes to world’s richest men.
19 to 12 in a month’s time
Adani had entered the top 20 billionaires club in the world during November end, adding $6.5 billion to his net worth to become the world’s 19th richest man. Since then, in just a month’s time, Adani’s net worth has increased from $66.7 billion to $97.6 billion to reach the 12th position.
Advertisement
| Rank | Name | Net worth | Last change |
| 1 | Elon Musk | $220 billion | -$372 million |
| 2 | Jeff Bezos | $169 billion | -$3.98 billion |
| 3 | Bernard Arnault | $168 billion | $782 million |
| 4 | Bill Gates | $138 billion | -$899 million |
| 5 | Steve Balmer | $128 billion | -$864 million |
| 6 | Mark Zuckerberg | $126 billion | $877 million |
| 7 | Larry Page | $124 billion | -$2.04 billion |
| 8 | Warren Buffet | $122 billion | -$982 million |
| 9 | Larry Ellison | $120 billion | -$139 million |
| 10 | Sergey Brin | $117 billion | -$1.93 billion |
| 11 | Carlos Slim | $102 billion | -$506 million |
| 12 | Gautam Adani | $97.6 billion | $7.67 billion |
| 13 | Mukesh Ambani | $97 billion | $764 million |
| 14 | Francoise Bettencourt Meyers | $96.1 billion | -$100 million |
| 15 | Amancio Ortega | $83.9 billion | $350 million |
| 16 | Michael Dell | $76.3 billion | -$676 million |
| 17 | Jim Walton | $72.4 billion | -$683 million |
| 18 | Rob Walton | $71 billion | -$675 million |
| 19 | Alice Walton | $69.9 billion | -$660 million |
| 20 | Julia Flesher Koch & family | $66.6 billion | -$252 million |
Source: Bloomberg Billionaires Index
As can be seen above, Adani has reported the highest increase in his net worth in the world’s top ten richest.
SEE ALSO:
Vivo X100 review – Top-end camera centric smartphone with sleek design
Adani-Hindenburg SC verdict sees pack rally with Adani Energy Solutions in the lead
Elon Musk to Warren Buffett – the top 10 richest people in the world