Gautam Adani: India’s second-richest man added about $6.5 billion to his fortune in a single day, bringing it to $66.7 billion. He has already surpassed Julia Flesher Koch and her family ($64.7 billion), Zhong Shanshan ($64.10 billion), and Charles Koch ($60.70 billion).

Gautam Adani, whose 10-listed group stocks increased in market value by over Rs 1 lakh crore on Tuesday, has re-entered the list of the world’s top 20 billionaires, according to publicly accessible statistics from Bloomberg. According to Bloomberg, the second-richest Indian added nearly $6.5 billion to his fortune in a single day, bringing his worth to $66.7 billion. He has already surpassed Julia Flesher Koch and family ($64.7 billion), China’s Zhong Shanshan ($64.10 billion), and the United States’ Charles Koch ($60.70 billion).  Adani was previously rated 22.

Meanwhile, Gautam Adani’s fortunes are still down $53.80 billion year to date, owing to the $150 billion fall that his listed equities experienced earlier this year as a result of a damning analysis by US-based short seller Hindenburg Research.  Mukesh Ambani is the 13th richest person in the world, with $89.5 billion. So far in 2023, he has experienced a $2.34 billion increase in notional wealth.

On November 28, the Adani group had a total market capitalisation of Rs 11,31,096 crore, up from Rs 10,27,114.67 crore on Friday. On January 24, the group’s m-cap was still down 41% over Rs 19.19 lakh crore. 

Adani shares rose after the Supreme Court deferred its decision in the Adani-Hindenburg dispute. The court stated that the markets regulator Sebi should conclude its investigation into all 24 instances, while emphasizing that the supreme court cannot mistrust Sebi’s investigation into the Adani issue based solely on media reports. 

The Adani group previously claimed that the allegations made by Hindenburg in its January report were all settled by appropriate authorities at the time, and that the allegations were a “deliberate and malicious attempt aimed at damaging the Adani group’s reputation and generating short-term profit by driving down Adani group stocks.”

The total market value of all ten Adani Group equities increased by 63,418.85 crore in a single day on Tuesday. It has since risen to more than 10.16 lakh crore. However, this is still much lower than the Group’s highest valuation of 19.20 lakh crore on January 24, prior to the publishing of the Hindenburg report.  

The rise in Adani group equities came after the company earned a clean bill of health from a Supreme Court bench investigating charges made by Hindenburg Research. The panel concluded that there was no indication of a’regulatory failure’ by the organization.