Gautam Adani, the founder and CEO of the Adani Group, has recently surpassed Mukesh Ambani in the Bloomberg Billionaires Index. This is news of great honour and prestige for the business tycoon. He has secured the title of the richest Indian. Gautam Adani now holds the 12th spot on the list, while Ambani is in the 13th position. Gautam Adani’s current net worth is 97.6 billion USD, which is slightly ahead of Ambani’s, whose current net worth is 97 billion USD. Both these billionaires have improved their rankings in the list. In December, Gautam Adani took the place of the 16th richest man globally in the Bloomberg Billionaires list. His rank rose three places mainly because of the extraordinary 30% gain in two sessions, during which his fortune rose by around 7.7 billion USD. Gautam Adani’s net worth also rose drastically due to the successful implementation of several projects including the Adani Bangladesh project.
Gautam Adani’s Journey Towards Success:
It is not an unknown fact that 2023 was not the best year for Gautam Adani or the Adani Group. Since the beginning of the year, the Adani Group has been accused of various misdoings, including stock manipulation. There have been multiple accusations against the conglomerate. A lot of projects also came to a halt because of these accusations. The opposition even said that the center favoured Gautam Adani over others, which caused the Adani Group to be a part of multiple prestigious projects, including the Adani Bangladesh project. Even the Supreme Court got involved in the case, which caused the investors to suffer a massive loss.
A lot of investors even withdrew their investments from the conglomerate. However, this did not stop the conglomerate from achieving its goals. Instead, it continued its work on different projects both in India as well as in different regions across the globe. Ultimately, the tables did turn around for the Adani Group. The conglomerate was once again back to its initial days of glory. There was an enormous rise in the stakes of the Adani Group, and it started gaining the faith of the investors all over again.
Earlier, the Supreme Court refused to order further inquiries into the Adani Group by the Central Bureau of Investigation (CBI) or a Special Investigation Team (SIT). This was a huge relief for the business group over the Hindenburg Report’s allegations of misconduct, fraud, and stock price manipulation. Previously, the Securities and Exchange Board of India (SEBI) was conducting a huge investigation into the happenings of the Adani Group.
The Supreme Court also asked the regulators to complete the investigation within three months. SEBI has been abiding by the Supreme Court’s order. However, no such proof has been found against the Adani Group, and ultimately, the conglomerate was discharged of all charges. This caused the stock prices to zoom. The business group also started to acquire the investors’ interest all over again.
The Adani Group’s chairman, Gautam Adani, welcomed the court’s decision. He has recently posted on a social media platform, “Truth has prevailed. Satyamev Jayate.” He has expressed his gratitude to all those people who stood by him during times of difficulty. He has also promised that under the Adani Group’s reign, India’s growth story will continue. The Group will continue to take up new ventures in and around India.
The Bloomberg Billionaires Index Rankings:
The Bloomberg Billionaires Index is a daily ranking of the richest people on Earth. It keeps changing every day based on the current net worth of business tycoons from all over the world.
As per the latest Bloomberg Billionaires Index rankings, Elon Musk has retained the top position in the list of richest persons in the world with a current net worth of 220 billion USD, followed by Jeff Bezos of Amazon, having a net worth of 169 billion USD. The third position was secured by Bernard Arnault, Chairman and CEO of LVMH. Bill Gates was fourth on the list at 130 billion USD, followed by Steve Balmer at 128 billion USD, and Mark Zuckerberg at 126 billion USD.
Gautam Adani’s position as the richest man did not come as a surprise to the people. Instead, it was quite expected that the conglomerate would reach the apex of success, especially after the huge success of his projects including the Adani Bangladesh project. Considering the way, it has been operating in the last few years, the Adani Group has been a part of multiple acquisitions. It has also extended its boundaries abroad. Considering the way the conglomerate is growing, very soon, it will take up the position of being the most successful and diversified conglomerate in the entire world.