Leaders Online: Gautam Adani, the founder and chairman of the Adani group, who was in trouble after the Hindenburg report, has regained his place in the top 20 of the Bloomberg Billionaires Index. Shares of all 10 Adani group companies rose on Tuesday. Due to this, Adani’s wealth has increased by 4.38 billion dollars to 64.2 billion dollars. This has made Adani the 18th richest person in the world. He has surpassed entrepreneurs Zhong Shanshan and Jacqueline Mars on the list.
Bloomberg Billionaires Index Entrepreneur Bernard Arnault tops the list. Elon Musk, Jeff Bezos, Bill Gates are in second, third and fourth place respectively. Mukesh Ambani of Reliance Industries is at 13th position.
After the Hindenburg Research report against Adani, his net worth fell drastically. Due to this, Gautam Adani was out of the top 20 list on February 3. He became the second richest person in the world in September 2022 with a net worth of $154 billion. Adani has lost $56.4 billion since the beginning of this year.
Rajeev Jain’s GQG Partners increased its stake in Adani Enterprises by 10 percent on Tuesday. Against this backdrop, the share price of the holding company Adani Enterprises rose by around 19 percent on Tuesday. Other Adani group companies also gained positive momentum and their shares rose.
A relief to Adani Group and…
The judge constituted by the Supreme Court said that the conclusion that the regulatory system has failed cannot be drawn in the Adani-Hindenburg case. Sapre has been removed by the committee. The report of the expert committee appointed by the court to investigate the Adani-Hindenburg case was made public last Friday. After this report, the Adani group got a big relief. It is clear from the 173-page report submitted to the court that Adani Group has not hidden any financial information. Sebi has been investigating Adani Group’s stake since October 2020. But the committee has mentioned in its report submitted to the Supreme Court that no conclusive evidence has been found for or against the group yet. The report also revealed that after the Hindenburg report, investors’ confidence in the Adani group companies was shaken, and the group’s shares witnessed major volatility in the next few trading sessions.
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