Gautam Adani is now 16th richest globally after wealth tops $70 billion
Gautam Adani is now the 16th richest man globally. His rank rose three places in the Bloomberg Billionaires Index in less than a week, thanks to a stellar 30% gain in two sessions, which has seen his fortunes surge by over $4.41 billion.
His wealth now stands at $70.2 billion.
Compared to the January peak, before the Hindenburg rout, the Ahmedabad-based businessman's total net worth is still down by $50.3 billion.
Adani is the second-richest Indian in the list and behind Mukesh Ambani, who has an estimated total net worth of $90.4 billion and is at the 13th spot. His net worth has grown by over $3.33 billion in 2023.
The Adani group stocks have been on a roll following the Bharatiya Janata Party's (BJP) election victory in key state elections of Madhya Pradesh, Rajasthan, and Chhattisgarh.
The combined market capitalisation of the Adani Group stocks surpassed the Rs 12 lakh crore mark on Tuesday.
This is the first time that the group's shares touched the Rs 12 lakh crore mark after crashing earlier this year following a report by American short-seller Hindenburg Research, which alleged financial wrongdoing and stock manipulation by the conglomerate.
Adani Enterprises shares alone have gained about 18% in two sessions. The stock on Tuesday witnessed a temporary trading halt after surging 10%.
Adani's ranking slipped below 25 within a month of the Hindenburg report.
He had started the year by becoming the third richest man on this planet.
The Adani stocks started rallying last week after the apex court observed that it had no reason to «discredit» market regulator Securities and Exchange Board of India's (Sebi) probe against the group. The apex court had reserved its order on a batch of petitions concerning the
