Gautam Adani surpasses Mukesh Ambani as the richest Indian after Hindenburg verdict

• Gautam Adani has once again emerged as India’s richest man.
• Adani has dethroned Reliance Industries chief Mukesh Ambani to claim the title of the richest Indian.
• Adani has added $7.67 billion to take his total net worth to $97.6 billion.

Gautam Adani, the chairperson of the Adani Group has once again emerged as India’s richest man, beating Mukesh Ambani. Adani has been inching closer to Ambani for some time now, thanks to the bull run in his stocks.

Adani’s personal wealth, which is linked to the value of his nine listed entities, had suffered a blow after the Hindenburg saga. Now, with most of those troubles on the back burner, his wealth has crossed that of the Reliance chief.

This comes soon after Adani received a boost after the Indian Supreme Court passed a verdict in favour of the company. In its verdict in the Adani-Hindenburg row, the apex court said that the facts of the case do not warrant transfer of probe to Special Investigation Team (SIT) or any other agency.

Gautam Adani adds $7.67 billion

Gautam Adani has added $7.67 billion in his wealth to dethrone Mukesh Ambani as India’s richest man. With this, Adani’s net worth stands at $97.6 billion, according to the Bloomberg Billionaires Index. During the same period, Ambani’s net worth has increased by $764 million to reach $97 billion. Adani is now $600 million ahead of Ambani.

This comes close the one-year anniversary of the Hindenburg saga, when the US-based short seller Hindenburg Researcher released a report alleging stock manipulation and accounting fraud in the Adani Group companies

Adani, who was briefly the second richest person in the world on the Bloomberg Billionaires Index, saw his wealth plummet from $119 billion on January 24, 2023 to $57.2 billion in March 2023. Since then, he has added over $40 billion in net worth to reach $97.6 billion.

Gautam Adani has now climbed to the 12th rank and Ambani is holding the 13th position when it comes to world’s richest men.

19 to 12 in a month’s time

Adani had entered the top 20 billionaires club in the world during November end, adding $6.5 billion to his net worth to become the world’s 19th richest man. Since then, in just a month’s time, Adani’s net worth has increased from $66.7 billion to $97.6 billion to reach the 12th position.

Rank	Name	Net worth	Last change
1	Elon Musk	$220 billion	-$372 million
2	Jeff Bezos	$169 billion	-$3.98 billion
3	Bernard Arnault	$168 billion	$782 million
4	Bill Gates	$138 billion	-$899 million
5	Steve Balmer	$128 billion	-$864 million
6	Mark Zuckerberg	$126 billion	$877 million
7	Larry Page	$124 billion	-$2.04 billion
8	Warren Buffet	$122 billion	-$982 million
9	Larry Ellison	$120 billion	-$139 million
10	Sergey Brin	$117 billion	-$1.93 billion
11	Carlos Slim	$102 billion	-$506 million
12	Gautam Adani	$97.6 billion	$7.67 billion
13	Mukesh Ambani	$97 billion	$764 million
14	Francoise Bettencourt Meyers	$96.1 billion	-$100 million
15	Amancio Ortega	$83.9 billion	$350 million
16	Michael Dell	$76.3 billion	-$676 million
17	Jim Walton	$72.4 billion	-$683 million
18	Rob Walton	$71 billion	-$675 million
19	Alice Walton	$69.9 billion	-$660 million
20	Julia Flesher Koch & family	$66.6 billion	-$252 million

Source: Bloomberg Billionaires Index

As can be seen above, Adani has reported the highest increase in his net worth in the world’s top ten richest.

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