Gautam Adani Surpasses Mukesh Ambani as India’s Richest: Ranks 12th Globally with Rs.8.12 Trillion Fortune
Gautam Adani, the Chairman of Adani Group, has once again become India’s wealthiest individual, overtaking Mukesh Ambani, the Chairman of Reliance Industries, in the Bloomberg Billionaires Index. Due to a surge in the value of Adani Group’s shares, Gautam Adani secured a position in the top 12 of the world rankings, while Mukesh Ambani fell below 13th place.
Adani’s Net Worth Soars, Crossing $97 Billion Mark
Gautam Adani’s net worth has surged to approximately $97.6 billion, surpassing $8.12 trillion rupees, as his network has grown by $13 billion this year alone. Meanwhile, Mukesh Ambani’s total wealth has reached approximately $97 billion, equivalent to around $8.07 trillion rupees, after an increase of 665 million dollars this year.
Supreme Court Decision Accelerates Adani’s Net Worth Growth
Due to the Supreme Court decision in the Adani-Elmberg case, Adani’s net worth has experienced a rapid increase. The investigation revealed manipulations in the shares of Adani, leading to a significant boost in Adani’s network. The case, initiated by Hindenburg, accused Gautam Adani of share manipulation and money laundering, resulting in a substantial impact on the company’s shares.
Elon Musk Tops Global Businessmen as the Richest
Elon Musk, the CEO of Tesla, the electric vehicle company, is the world’s richest businessman with a net worth of $18.31 trillion. He is followed by Amazon’s founder Jeff Bezos with a net worth of $14.06 trillion, and Bernard Arnault of LVMH holds the third position with a total wealth of $13.98 trillion.
Investigation Committees and SEBI Scrutinize Adani Case
A committee of six members was formed to investigate the Adani-Hindenburg case, and SEBI also conducted its inquiry into the matter. The Supreme Court made four significant decisions on January 3rd, indicating Adani’s clean sheet. SEBI completed the investigation in 22 cases, with two cases undergoing a three-month review period.
SEBI’s Strict Oversight and Concerns about OCCPR Report
SEBI’s jurisdiction to review this court’s decision is limited. The OCCPR report, which raises concerns about SEBI’s investigation, cannot be considered as the basis for transferring the investigation to SAT. The court’s authority to monitor the investigation is restricted by SEBI rules.
Adani Group – India’s Largest Private Port Owner
Under the leadership of Gautam Adani, the Adani Group primarily operates in the infrastructure sector, being the largest private port owner in the country. Adani Group, based in Ahmedabad, plays a vital role in global coal trading. Adani Enterprises is the flagship company of the Adani Group.
