Gautam Adani back in top 20 billionaires list as net worth swells to $64.2 billion

Digital Desk: Billionaire Gautam Adani, the chairman of Adani Group has once more made it into the top 20 richest people in the world owing to the spectacular increase in the value of the shares of the group's firms. With a $4.38 billion increase in net wealth to $64.2 billion, Adani is now placed 18th on the Bloomberg Billionaires' Index. 

In February of this year, Gautam Adani dropped out of the top 20 richest individuals in the world after Hindenburg Research's research on the firm caused a significant decline in his net worth. 

In September 2022, Adani had a net worth of $154 billion, making him the second richest person in the world. Based on the charges in the Hindenburg investigation, he has nonetheless lost $56.4 billion since the beginning of 2023.

This week, several reasons, including recent investments from GQG Partners, have contributed to a significant increase in the shares of Adani Group firms. 

Tuesday saw an increase in the combined market value of all 10 Adani Group equities of 63,418.85 crore. More than 10.16 lakh crore was added to it. The Group's top valuation, which was 19.20 lakh crore on January 24, before the publication of the Hindenburg report, is still much lower than this, though.  

Stocks of the Adani Group rose after the group was given the all clear by the Supreme Court tribunal investigating accusations made by Hindenburg Research. The panel claimed there was no proof of the organization's "regulatory failure."

Additionally, GQG Partners, a recent investor in the group, increased its holdings in the companies by almost 10%. The seasoned investor Rajiv Jain, who runs GQG Partners LLC, will also take part in the conglomerate's upcoming fund-raising efforts, doubling down on what he deems "the best infrastructure assets available in India."

GQG invested about Rs. 15,446 crore in four Adani Group entities in March. This investment's value has increased by a startling 10,069 crore, to around Rs. 25,515 crore.

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