- Gautam Adani re-entered the Forbes list of richest people in the world.
- With a net worth of $61.40 billion, Adani now stands at 17th spot in the Forbes real-time billionaires list.
- Adani, who was the third-richest individual in the world till January 24, dropped from the world’s top 20 billionaire rich due to a sudden crash in the groups’ share price.
Gautam Adani, Chairman of Adani Group, re-entered the Forbes list of richest people in the world positioned at number 17. Gautam Adani was one of the top gainers in the world, with an increase of $463 million, after the stocks of Adani group rose on February 7.
Last week, Gautam Adani’s name had gone from world’s third’s richest person on 17 January 2023 to not even being among the top 20.
Adani Enterprises’ stock rose 25%, reaching a high of ₹1,965.50. The price of Adani Ports increased by 9.64% to ₹598.70. Adani Transmission and Adani Wilmar both reached their upper circuit limits at ₹1,324.45 and ₹399.40, respectively.
The steep decline in Adani’s fortune came under fire after US short seller Hindenburg Research accused the Adani Group of ‘brazen stock manipulation and accounting fraud scheme over the course of decades.’
Gautam Adani re-entered the top 20 global billionaires list amid the ongoing recovery in the select shares of the group companies. With a net worth of $61.40 billion, Adani now stands at 17th spot in the Forbes real-time billionaires list.
Shares of Adani Enterprises traded 16.06 per cent higher at Rs 1,825 at around 3 pm (IST), while the benchmark BSE Sensex traded almost flat at 60,475. Shares of Adani Enterprises have advanced around 80 per cent amid the ongoing recovery on Dalal Street against their 52-week low of Rs 1,017.10, scaled on February 3, 2023
Shares of Adani group of companies plunged somewhere between 18 per cent and 58 percent from January 24, 2023 to February 3, 2023. A report by the US short-seller Hindenburg Research on January 24 claiming that the Indian conglomerate had engaged in stock manipulation and accounting fraud ruined market sentiment. The allegations sent bonds and shares in the conglomerate’s companies down.
