Gautam Adani Becomes The 12th Richest Person In The World, Despite Hindenburg Hit

Abhay Singh
2 Min Read
Gautam Adani Group

Adani Group has completely recovered from the shock caused by the Hindenburg Research report. On Wednesday, the net worth of businessman Gautam Adani increased by $2.7 billion to $100.7 billion.

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Gautam Adani Becomes The Richest Indian

According to the Bloomberg Billionaires Index, Gautam Adani is the 12th wealthiest person globally, with around $101 billion.

His flagship company, Adani Enterprises, earned a profit of 130 per cent last week, and its shares have been rising over the previous eight days.

As for Mukesh Ambani, he is one place lower on this list. In the past few days, his wealth has also seen a record increase.

Gautam Adani may have overtaken Ambani, but he is still about $50 billion below his peak position in 2022.

Decline In Adani’s Assets

After the Hindenburg report, Gautam Adani’s wealth declined by $80 billion and suffered a loss of about 150 billion dollars. It took a long time for the company to recover from the allegations in the report.

He has again achieved this position by wooing investors and lenders, repaying loans, and easing regulatory bodies’ concerns. Expressing confidence in Adani Group after the Hindenburg report, GQG Partners LLC invested about $ 4 billion. Regarding foreign investors, Qatar Investment Authority has made a massive investment of about 500 million dollars in the company.

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By Abhay Singh Journalist
Abhay has been with News Waker for over a few months and has covered various topics, from politics to business to sports. He is known for his engaging writing style and ability to explain complex issues in a way that's easy to understand.