Adani’s total net worth now stands at $80.3 billion, but is still down by $38 billion compared to the January peak before the Hindenburg rout.
Meanwhile, Mukesh Ambani’s total net worth as of December 6 stood at $91.4 billion. It has jumped by $4.33 billion in 2023.
Adani’s wealth has seen a steep rise over the last 8 days. It all started with the Supreme Court’s observation that it had no reason to “discredit” market regulator Securities and Exchange Board of India’s (Sebi’s) probe against the group. The apex court had reserved its order on a batch of petitions concerning the Adani-Hindenburg row after the conclusion of the hearing on November 28.
It was later followed by the Bharatiya Janata Party’s (BJP’s) wins in key state elections of Madhya Pradesh, Rajasthan, and Chhattisgarh, which saw Adani group go on a roll.
On Tuesday, the Adani Group stocks received a shot in the arm following a Bloomberg report that quoted unnamed officials in the US International Development Finance Corporation (DFC) as saying that the allegations by Hindenburg Research were not relevant. The US agency had recently announced funding of $553 for the group’s port business in Sri Lanka.
The news triggered the group stocks best single-day market performance, adding Rs 1.93 lakh crore to their combined market capitalisation and extending it over Rs 14 lakh crore on Wednesday.Adani’s ranking slipped below the 25 mark as a fallout of the Hindenburg research report in January within a month of the report getting published.
The Bloomberg Billionaire Index captures the total net worth of 500 richest people globally. The first three slots are occupied by Elon Musk ($220 billion), Jeff Bezos ($169 billion) and Bernard Arnault ($167B).
Apart from Adani and Ambani, 20 other Indians feature in the list viz. Shapoor Mistry, Shiv Nadar, Savitri Jindal, Azim Premji, Radhakishan Damani and Uday Kotak, among others.
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