Gautam Adani Reclaims Position in World's Top 20 Richest Billionaires List Amid Adani Group Stocks Rally

In a remarkable comeback, Gautam Adani has surged back into the elite ranks of the world's top 20 wealthiest individuals, riding on a consecutive rally in Adani Group stocks that catapulted the combined market value of his enterprises by a staggering 1.33 lakh crore Indian rupees. As of the latest update on the Bloomberg Billionaires Index, Adani currently holds the 19th position, witnessing a notable increase in his overall net worth by $6.5 billion.

The resurgence in Adani's financial standing follows a challenging period, during which his total net worth for the year-to-date remained $53.8 billion lower. Last year, Adani had briefly held the title of the second richest person globally before facing a setback due to a sharp decline in the shares of Adani group companies, triggered by Hindenburg's research report.

Adani's return to the world's top 20 billionaires is attributed to a significant boost in the market capitalization of his companies. On Tuesday, the market capitalization surged to over INR 1 lakh crore as shares of 10 listed companies experienced a substantial increase. This surge has propelled Adani ahead, marking a resurgence in his ranking among the world's wealthiest individuals.

According to Bloomberg's data, Gautam Adani's wealth spiked by about $6.5 billion in a single day, reaching a current total of $66.7 billion. Previously ranked 22nd, Adani's return to the top 20 billionaires showcases the resilience and recovery of the Adani Group in the global market.

Source: The Economic Times