Gautam Adani, the chairman of the Adani Group, has re-entered the list of the world’s top 20 richest people, marking a significant financial milestone. This achievement was driven by a notable rally in the stocks of Adani Group companies over the past few days, as reported by the Bloomberg Billionaires Index.
In a remarkable single-day surge, Adani’s personal net worth experienced an increase of USD 6.5 billion, equivalent to around Rs 54,000 crore. This propelled him to the 19th position on the Bloomberg Billionaires Index, with an impressive net worth of USD 66.7 billion, translating to approximately Rs 5,55,740 crore.
#GautamAdani is back in the list of top 20 richest people in the world following a rally in #AdaniGroup stocks.
— The Statesman (@TheStatesmanLtd) November 30, 2023
As per the #BloombergBillionairesIndex, Adani is now the 19th richest person in the world with a net worth of $66.7 billion. pic.twitter.com/coZPjGmkmg
The surge in Adani’s wealth can be attributed to the robust performance of the Adani Group’s 10 listed companies, whose shares witnessed a sharp rally on a particular Tuesday. This collective upswing resulted in the group’s combined market capitalization surging by over Rs 1 lakh crore. Following this surge, Gautam Adani surpassed several other billionaires on the global wealth ranking, including Julia Flesher Koch & family (USD 64.7 billion), Zhong Shanshan of China (USD 64.10 billion), and Charles Koch of the United States (USD 60.70 billion).
The combined market valuation of all 10 Adani Group firms reached an impressive Rs 11.31 lakh crore at the close of trading on that notable Tuesday, reflecting a significant increase from the previous trading day’s valuation of around Rs 10.26 lakh crore. The positive momentum in the stock prices of Adani Group companies was also observed on the preceding Friday, coinciding with the Supreme Court hearing and reserving its verdict on petitions related to allegations of fraud against the conglomerate.
Gautam Adani’s resurgence into the top 20 richest people globally underscores the dynamic nature of financial markets and the influential role played by conglomerate leaders in shaping the economic landscape. As a prominent figure in the business world, Adani continues to navigate the complexities of the market, contributing to both the growth of his enterprises and his personal wealth.
