Gautam Adani has reclaimed his position among the top 20 wealthiest individuals globally, thanks to a surge in the stocks of the Adani Group. According to the Bloomberg Billionaires Index, Adani currently holds the 19th spot, boasting a net worth of $66.7 billion.
Adani's fortune experienced a remarkable upswing, soaring by over $6 billion during the surge in Adani Group stocks. The positive momentum persisted into the second day, with the majority of Adani Group companies showing gains on Wednesday.
This resurgence was attributed to the Supreme Court's decision to postpone its inquiry into the conglomerate regarding allegations of stock manipulation and fraud made by a US-based short-seller, as explained by Vaibhav Vidwani, a Research Analyst at Bonanza Portfolio.
In the global ranking, Adani is the second richest Indian, trailing behind Mukesh Ambani, who holds the 13th position with an estimated net worth of $89.5 billion.
Leading the Bloomberg Billionaires Index is Elon Musk, commanding the title of the richest person with a staggering net worth of $228 billion. Following Musk are Jeff Bezos ($171 billion), Bernard Arnault ($167 billion), and Bill Gates ($134 billion). Adani's resurgence in the top 20 is a testament to the dynamic nature of the financial markets and the resilience of the Adani Group.
(With agency inputs)