https://sputniknews.in/20240105/gautam-adani-becomes-asias-richest-man-with-976-bln-net-worth-6092611.html
Gautam Adani Becomes Asia's Richest Man with $97.6 Bln Net Worth
Gautam Adani Becomes Asia's Richest Man with $97.6 Bln Net Worth
Sputnik India
Billionaire Gautam Adani, chairman of the Adani Group, has overtaken Mukesh Ambani, chairman of Reliance Industries, to become India's and Asia's richest man, Bloomberg reported on Friday.
2024-01-05T13:14+0530
2024-01-05T13:14+0530
2024-01-05T13:14+0530
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Billionaire Gautam Adani, chairman of the Adani Group, has overtaken Mukesh Ambani, chairman of Reliance Industries, to become India's and Asia's richest man, media reported on Friday.According to the data, Adani is worth $97.6 billion as of Friday morning, making him the 12th richest person in the world. Meanwhile, Ambani, now in 13th place, is worth $97 billion.The 61-year-old industrialist's companies are involved in all sorts of sectors, including airports, fast-moving consumer goods, ports, renewable energy and power distribution. The Adani Group is the largest port and coal operator in India.Adani saw a huge slide in its net worth after many spots amid the Hindenberg allegations. In January 2023, US research firm Hindenburg alleged "brazen accounting fraud" and "share manipulation" by the Gautam Adani-led group.Adani categorically denied all allegations, calling the report "malicious and malicious", which wiped over $69 billion off Adani Group shares, or 60 per cent of Adani's wealth.The development also comes after the Supreme Court of India earlier this week dismissed all petitions seeking to transfer the investigation into allegations of round-tripping and money laundering by the Adani Group from the Securities and Exchange Board of India (SEBI) to a Special Investigation Team.
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Gautam Adani Becomes Asia's Richest Man with $97.6 Bln Net Worth
Deexa Khanduri
Sputnik correspondent
Indian industrialist Gautam Adani is a college dropout who began his career selling diamonds before founding the Adani Group in 1988.
Billionaire Gautam Adani, chairman of the Adani Group, has overtaken Mukesh Ambani, chairman of Reliance Industries, to become India's and Asia's richest man, media reported on Friday.
According to the data, Adani is worth $97.6 billion as of Friday morning, making him the 12th richest person in the world. Meanwhile, Ambani, now in 13th place, is worth $97 billion.
The 61-year-old industrialist's companies are involved in all sorts of sectors, including airports, fast-moving consumer goods, ports, renewable energy and power distribution. The Adani Group is the largest port and coal operator in India.
Adani saw a huge slide in its net worth after many spots amid the
Hindenberg allegations. In January 2023, US research firm Hindenburg alleged "brazen accounting fraud" and "share manipulation" by the Gautam Adani-led group.
Adani categorically denied all allegations, calling the report "malicious and malicious", which wiped over $69 billion off Adani Group shares, or 60 per cent of Adani's wealth.
The development also comes after the Supreme Court of India earlier this week dismissed all petitions seeking to transfer the investigation into allegations of round-tripping and money laundering by the Adani Group from the Securities and Exchange Board of India (SEBI) to a Special Investigation Team.
