Asia Richest Man: Gautam Adani Becomes Asia's Richest Man
Gautam Adani Networth: The new year is proving to be great for Gautam Adani from every aspect. After the decision from the Supreme Court, he is on a continuous rise in the Billionaire Index. He has become the richest person in the country and Asia, leaving Mukesh Ambani behind. According to the Bloomberg Billionaires Index, his wealth has reached 12th place worldwide with $97.6 billion. Ambani is ranked 13th with a net worth of $97 billion.
According to the data of January 4, Adani's wealth has increased by $ 7.67 billion. At the same time, Ambani's wealth is 764 million dollars. During this period, Jeff Bezos has suffered a loss of $3.98 billion. Adani has advanced sharply in the Billion index in the last four days. Till this year his wealth has increased by $13.3 billion. As on January 4, his wealth has increased by $7.67 billion. Whereas in the remaining three days there has been an increase of about 6 billion dollars.
Why is it accelerating?
After the Supreme Court's decision on January 3, Adani Group's shares have risen. On Wednesday, the group's market cap crossed Rs 15 lakh crore. Due to the rise in the last four days, he has reached 12th position in the list of billionaires. Earlier his ranking was at number 15 on January 1. They are getting full relief from their complaints in 2024. Due to which he was the biggest top loser in 2023.
Jump of three places in two days
On January 3, Gautam Adani was ranked 15th in the Billionaire Index. On January 4, he moved up one place to number 14. After this, on January 5, he jumped two places to reach number 12. After the rise in the stock market and Adani Group's stocks on January 4, their ranking is increasing. In the 2024 list, Bernard Arnault became the top loser with a net worth of $10.8 billion. After this, Elon Musk has lost the most wealth of $9.35 billion. Gautam Adani has become the top gainer by acquiring wealth of $13.3 billion.
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What's in the Supreme Court's decision?
In the hearing held on January 3, SEBI told the court that 22 investigations have been completed. Two are left. Subsequently, the apex court extended time by three months to complete the investigation. Besides, the court also rejected the petition in which an appeal was made to hand over the investigation to SIT instead of SEBI. The court said that there is no question on the functioning of SEBI. And the expert group has not found any flaw in the work of SEBI. It is not right to doubt SEBI's investigation or reach any conclusion on the basis of reports.
Loss of 60 billion dollars in 2023
On January 24, 2023, Hindenburg Research alleged irregularities in shares of Adani Group. After this, the shares of the group companies declined rapidly. As a result, the net worth of Adani Group Chairman Gautam Adani reduced by $60 billion. As a result, he dropped out of the top 20 in the list of Adani billionaires. Now he is slowly trying to regain his place. And has reached number 12. In the year 2023 alone, Adani Group has raised Rs 41,500 crore through equity.
Superfast News Coverage By YuvaPatrkaar.com Team
Publish Date: January 05, 2024
Posted By Sunil