HomeOthersGautam Adani's fortune hits $100 billion again

Gautam Adani’s fortune hits $100 billion again

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  1. Gautam Adani, chairman of the Adani Group, has returned to the $100 billion club after recovering much of his wealth following an attack by the US-based short-seller Hindenburg Research in 2023.
  2. Adani’s net worth rose to $100.7 billion on Wednesday, making him the 12th-richest person in the world, with a gain of $16.4 billion this year.
  3. His wealth had previously slumped by over $80 billion due to allegations of market manipulation and fraud, but has since rebounded.
  4. The conglomerate spent months wooing back investors and lenders, repaying debt, and addressing regulatory concerns, ultimately winning fresh equity capital from investors like GQG Partners LLC and Qatar Investment Authority in 2023.
  5. Adani’s fortune is still about $50 billion below its 2022 peak.
  6. He is now ranked 12th in the Bloomberg Billionaires Index, just behind his compatriot Mukesh Ambani.
  7. Adani dropped out of college in the early 1980s to pursue a career in Mumbai’s diamond industry before venturing into coal and ports, eventually expanding his empire into airports, data centers, media, and green energy.
  8. In January, the Supreme Court of India ordered market regulator Sebi to conclude an investigation into the group within three months, boosting shares of the conglomerate.
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