Gautam Adani re-enters $100 billion club post Hindenburg controversy, becomes world's 12th richest person

Adani Group chairman Gautam Adani has bounced back into the $100 billion club, reclaiming much of his wealth post the controversial report by US-based short-seller Hindenburg Research in 2023, which then led to a crash in Adani group stocks and a substantial erosion of his wealth.

Bloomberg reports that Adani's net worth has surged to $100.7 billion, propelling him to the 12th position among the world's wealthiest. Notably, Adani has witnessed a recovery of $16.4 billion in wealth this year alone.

However, Adani’s fortune is still about $50 billion below its 2022 peak.

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Gautam Adani on anniversary of Hindenburg report

A year after a damning report by a US short seller ripped through his apples-to-airport conglomerate, billionaire Gautam Adani on Jan 25th said the "trials and tribulations" of the past year have made the Adani group stronger as it continued on growth path, improving asset base and launching key projects, including the Dharavi redevelopment.

In a column in a leading newspaper, he said the Adani group raised Rs 40,000 crore of equity -- equal to debt repayment for the next two years -- through stake sales in some firms, repaid Rs 17,500 crore of margin-linked financing, and trimmed debt.

Sustained focus on operations yielded the highest-ever quarterly profit in the second quarter of current fiscal, he said.

Most of the listed group companies have recouped losses induced by the Hindenburg report.

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