Adani Group Chairman Gautam Adani Becomes Asia's Richest Person 

Adani Group Chairman Gautam Adani Becomes Asia's Richest Person 

Gautam Adani, chairperson of Adani Group of companies, has become the richest man in India and Asia by surpassing Reliance Industries Chairman Mukesh Ambani on the Bloomberg Billionaires Index (BBI). At the same time, Adani has made its place in the top 12 in the world ranking. On the other hand, Ambani has dropped one place to 13th position. Both have moved up one place from last year.

Earlier in December 2023, the billionaire (Adani) was at 15th position and was close to Ambani. At that time Ambani was in 14th place.

Gautam Adani's net worth

With a net worth of $97.6 billion, the Adani Group founder is now the 12th richest person in the world and the richest Indian and Asian on the list. Let us tell you that there has been a tremendous increase of 7.67 billion dollars in Adani's assets. Because of this he has taken a huge leap. Early last year, Adani's net worth saw a sharp decline amid Hindenburg's allegations.

In January 2023, New York-based short seller Hindenburg Research had accused Adani Group of long-term stock manipulation and accounting irregularities. These claims were denied by Adani Group. After these allegations, Gautam Adani's wealth reduced by almost 60 percent due to the fall in the share prices of Adani group companies.

Sources of funds

Ahmedabad-based Adani Group, led by Gautam Adani, stands as a leading infrastructure conglomerate in India. The country's largest private port and plays a major role in global coal trade. Adani Enterprises, the group's flagship company, had reported revenue of $17 billion for the financial year ending March 31, 2023.

Gautam Adani's wealth comes primarily from his ownership in six publicly traded companies affiliated with the conglomerate he founded, the Adani Group.

After the leave of the Supreme Court of India, Gautam Adani had thanked the Indian judicial system, terming the allegations made by Hindenburg as baseless. With the relief from the Supreme Court, there was a huge rise in the shares of Adani Group. And the result of this is that Gautam Adani has become the richest person in Asia.