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Gautam Adani retakes former position as Asia’s richest man

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Indian conglomerate Adani Group Chairperson Gautam Adani has had a good start to 2024. After a tumultuous year, the Indian tycoon has just retaken his former position as Asia’s richest man, according to the Bloomberg Billionaires Index.

This is days after India’s top court said no new probes were needed into Hindenburg Research’s bombshell allegations against the tycoon’s conglomerate. Adani’s net worth rose $7.7 billion in a day to $97.6 billion, reclaiming the top spot in the region from Indian compatriots according to the Bloomberg Billionaires Index.

Ambani, chairman of Reliance Industries Ltd, was trailing by a narrow margin with a net worth of $97 billion, the index shows.

The Adani Group has 10 publicly listed companies, including Adani Port which was 2.8% higher on Asia’s Friday afternoon trading session.

Shares of those companies have been slowly inching higher since the Hindenburg debacle.

His company is also investing in Sri Lanka’s maritime and renewable energy sectors.

The post Gautam Adani retakes former position as Asia’s richest man appeared first on DailyNews.

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