Gautam Adani has jumped back into the top 20 of the Bloomberg Billionaires Index as on May 24, 2023. His rise in the list comes after Adani Group stocks staged a remarkable recovery in the last few sessions
As Adani Group companies’ share prices jumped in trade on Tuesday, Adani Group Chairman Gautam Adani's net worth increased by $4.38 billion to $64.2 billion, pushing him to the 18th spot among the world’s wealthiest individuals, according to BBI
Gautam Adani, 60, slipped out of the top 20 of Bloomberg Billionaires list on February 3 as his net worth tanked sharply when the Hindenburg Research’s report eroded Adani Group companies' market value by $100 billion
Once the second richest person in the world with a net worth of $154 billion on September 20, 2022, Gautam Adani fell to 38th spot in the Bloomberg Billionaires Index. So far this year, Gautam Adani's net worth has tanked 46% or by $56.4 billion
Gautam Adani's net worth saw a meteoric rise in the last three years. On March 18, 2020, Gautam Adani's net worth was below $5 billion. Since then it rose sharply and touched the $154 billion mark in September last year, making him the second richest person in the world briefly
After US-based short-seller Hindenburg Research released its damning report against the conglomerate alleging fraud and stock manipulation, Adani Group stocks fell sharply, causing a plunge in Adani's net worth, the bulk of which is derived from stakes in 10 publicly traded companies
In the last 3 trading sessions, Adani Group stocks have soared sharply on account of clean chit from the Supreme Court-appointed Committee that was looking into regulatory failure by SEBI and alleged breach of laws by the Adani Group
Last week on Friday, the Supreme Court-appointed expert panel said in its report that there was prima facie no evidence of stock price manipulation in Adani Group companies, while a separate probe by SEBI into alleged violation of money flows from offshore entities has “drawn a blank.” This led to a sharp rally in the Adani Group flagship company Adani Enterprises
Billionaire Rajiv Jain’s GQG Partners on Tuesday raised their stake in Adani Enterprises by 10% and expressed commitment to take a part in the future of the ports-to-power conglomerate’s fundraising efforts in the future
Adani Enterprises shares jumped 19% on Tuesday, and the positive momentum extended to other companies within the Adani Group, as their stock prices witnessed substantial gains. Notably, Adani Ports became the first Adani Group firm to recoup all its losses following the dissemination of the report
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