New Delhi: Gautam Adani has reclaimed the title of the richest Indian, surpassing Mukesh Ambani, driven by a surge in the shares of his ports-to-power conglomerate. As of 9:30 a.m. on Friday, Adani’s net worth stood at $97.6 billion, while Ambani trailed slightly at $97 billion, according to the Bloomberg Billionaires Index. Globally, Adani holds the 12th position, securing the title of Asia’s richest man, with Ambani following closely at 13th place.
The recent spike in Adani Group stocks can be attributed to the Supreme Court’s dismissal of calls for a new probe into Hindenburg allegations. The court expressed confidence in SEBI’s investigation into the Adani-Hindenburg saga, stating that there is no need for a fresh inquiry into the short seller’s claims.
Adani’s resurgence is further fueled by the group’s ambitious $100-billion spending plan, strong backing from the U.S. government for its port project in Sri Lanka, and the positive market sentiment following the BJP’s victory in the three Hindi belt states. These factors collectively contribute to the renewed lead Adani has taken over Ambani in the race for the title of India’s wealthiest individual.
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