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Key Points

Gautam Adani has experienced a remarkable financial turnaround with his wealth jumping $13 billion in just two days. The surge comes after SEBI's clean chit in the Hindenburg report, boosting market confidence in Adani Group stocks. Adani is now just $3 billion behind Mukesh Ambani in the wealth rankings. His net worth has grown significantly, reflecting strong performance across multiple group companies.

Key Points: Adani Wealth Surges $13B After SEBI Clean Chit

  • Adani's wealth grows $17.1B in 2023
  • SEBI dismisses Hindenburg allegations
  • Adani Group stocks rally strongly
  • Adani moves closer to becoming India's richest person
2 min read

Gautam Adani's wealth jumps $13 billion in 2 days, moves closer to becoming India's richest person

Gautam Adani's net worth jumps dramatically, closing gap with Mukesh Ambani after SEBI dismisses Hindenburg allegations

"We must build not for today's applause but for a legacy that endures for decades. - Gautam Adani"

New Delhi, Sep 23

Adani Group Chairman Gautam Adani's net worth surged by $13 billion in just two days, driven by a sharp rally in the group companies' shares.

According to the Bloomberg Billionaires Index, Gautam Adani's wealth now stands at $95.7 billion, placing him just behind Reliance Industries Chairman Mukesh Ambani, whose fortune has dipped to $98.6 billion.

So far this year, Gautam Adani's net worth has grown by $17.1 billion, more than double the $8.02 billion increase recorded in Mukesh Ambani's net worth.

The spike in Adani Group stocks follows a clean chit from the Securities and Exchange Board of India (SEBI) in the Hindenburg short-selling case.

In its final order, the market regulator dismissed allegations of fund routing and related-party transactions, confirming that the conglomerate had not violated any regulations.

Market confidence has been reflected strongly in stock prices. In the last three sessions, Adani Power has soared nearly 30 per cent, Adani Total Gas 18 per cent, Adani Green Energy 15 per cent, and Adani Energy Solutions over 10 per cent. Adani Enterprises has gained more than 11 per cent, while Adani Ports has risen nearly 3 per cent.

Earlier, the Adani Group Chairman had urged the Group staff to accelerate the pace of innovation and drive bold advances in energy, logistics, and other infrastructure that push the very edges of possibility, as the cloud of the Hindenburg case over the conglomerate has been lifted with the SEBI verdict rejecting the allegations of the US short-seller.

"We must build not for today's applause but for a legacy that endures for decades. Headlines fade, but what we create must leave its mark on history," Gautam Adani said in a letter to the Group's staff.

"Today, a cloud that had hung over us for more than two years has been lifted. SEBI's comprehensive investigation has concluded by rejecting all allegations contained in the Hindenburg report from January 2023," the letter states.

Globally, Elon Musk continues to top the billionaires list with a net worth of $452 billion, followed by Larry Ellison ($388 billion), Mark Zuckerberg ($269 billion), Jeff Bezos ($250 billion), and Larry Page ($221 billion).

Among Indians, Mukesh Ambani currently ranks 18th worldwide, while Adani is placed 19th.

- IANS

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Reader Comments

A
Aman W
While the wealth creation is impressive, I hope this translates into more job opportunities and better infrastructure for common people. Wealth should trickle down to benefit all sections of society.
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Rohit P
Adani's focus on energy and infrastructure is exactly what India needs for development. His vision for creating lasting legacy rather than short-term gains is commendable. Good to see Indian businesses growing so fast!
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Sarah B
The speed of this wealth accumulation is mind-boggling. While SEBI has given clean chit, I hope there's proper transparency in all transactions. Healthy skepticism is important for market integrity.
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Karthik V
Adani vs Ambani race is getting interesting! Both are building India's future in different sectors. Healthy competition between these giants will ultimately benefit the Indian economy. 🚀
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Nisha Z
The stock market rally shows how important regulatory clarity is for investor confidence. SEBI's thorough investigation and clear verdict have restored faith in our markets. Good for retail investors too!

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