IN THIS WEEK’S ISSUE

Gautam Adani is the richest person in Asia, leaving Mukesh behind

Logan D Suza

Last year, US watchdog Hindenburg published a serious report against Gautam Adani’s group on stock market manipulation.

After a turbulent year in the list of the world’s richest people, India’s business magnate Gautam Adani has returned to the first place in the list of the top richest people in Asia.

Last year, US watchdog Hindenburg published a serious report against Gautam Adani’s group on stock market manipulation. However, India’s Supreme Court ruled last week that the Hindenburg report did not require a fresh inquiry. After such a verdict of the Supreme Court, Gautam turned around again.

In just one day, his wealth increased by 7.7 billion dollars to 97.6 billion dollars. With this, Gautam Adani has become number one, leaving behind the other top rich Mukesh Ambani. Mukesh, who is in the second position, has a wealth of 97 billion dollars.

After Hindenburg published the explosive report, Adani Group denied it. But despite this, the group lost $150 billion at one point last year. The Adani Group spent months appeasing investors, lenders, debt repayments and regulators.

Last week, the Supreme Court directed the market regulator to complete its investigation within three months and not conduct any fresh investigation. The share price of Adani Group increased after that.

Gautam Adani’s wealth has increased to 13.3 billion dollars so far after the court verdict.

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