Gautam Adani Back In Top 20 In World's Billionaires List
The Chairman of Adani Group is now ranked 18th in the Bloomberg Billionaires’ Index.
Industrialist Gautam Adani, the chairman of Adani Group has once again entered in the list of the top 20 world billionaires. Adani’s net worth went up by $4.38 billion to $64.2 billion. He is now ranked 18th in the Bloomberg Billionaires’ Index.
The Adani group companies’ share prices on Tuesday jumped in trade resulting in increase of Adani's net worth. Gautam Adani has now surpassed figures such as Zhong Shanshan and Jacqueline Badger Mars.
Since the start of 2023, Adani suffered a significant loss of $56.4 billion due to allegations made by the Hindenburg report. However Adani Group stocks have experienced a surge that is driven by factors such as fresh investments from GQG Partners and also because of the Supreme court ruling which did not find any regulatory failure in the Adani Hindenburg case. This week, the shares of all 10 Adani Group companies witnessed an increase in market capitalisation, rising by Rs 63,418.85 crore in just one day. Subsequently, the total market capitalisation surpassed Rs 10.16 lakh crore.
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GQC's stakes in Adani Group
The recent investor in the Adani Group GQG Partners has also increased its stake in the companies by approximately 10%. Led by the experienced investor Rajiv Jain, GQG Partners LLC expressed confidence in the conglomerate's future prospects and plans to participate in its upcoming fundraising activities. Jain referred to the Adani Group as having "the best infrastructure assets available in India."
In March, GQG made an investment of nearly Rs 15,446 crore in four Adani Group companies. The value of this investment has now soared to approximately Rs 25,515 crore, representing an increase of Rs 10,069 crore.