Gautam Adani Leave behind Mukesh Ambani becomes Richest Indian and Asian

Gautam Adani, the chief of Adani Group, which has business in many countries, has regained the position of Asia’s richest person. Recently, the Supreme Court had said that there is no need for any new investigation into the allegations of Hindenburg Research against the Adani Group.

According to the Bloomberg Billionaires Index, in the last few days adani group Gautam Adani’s net worth has increased by around $7.7 billion to $97.6 billion due to a sharp rise in the shares of companies. He has left behind Reliance Industries Chairman Mukesh Ambani. Ambani’s net worth is $97 billion. Adani, a first-generation businessman, started as a diamond trader in the 1980s. Adani Group’s business is related to ports to power sector. Last year, despite Hindenburg Research’s denial of corporate fraud, the shares of Adani Group’s listed companies fell drastically. Due to this, Adani Group suffered a loss of more than $150 billion.

After this, the Adani Group took several months to bring back investors, reassure lenders and repay the debt. Last week, after the Supreme Court ordered markets regulator SEBI to conclude the investigation of the Adani Group in three months, the shares of its companies have risen sharply. Along with this, the Supreme Court had said that there is no need to investigate the matter further.

Gautam Adani’s wealth has increased by about $13.3 billion after the Supreme Court’s decision. The Adani Group has planned to invest $100 billion in the next decade to make its businesses environmentally friendly. Along with this, the group’s business is being rapidly diversified. Its new businesses include data centers, artificial intelligence, airports and media. Adani Data Networks, a unit of Adani Enterprises, has started 5G Spectrum In the 2015 auction, Adani bought 400MHz spectrum for around Rs 212 crore. The Adani Group had said that it plans to use this spectrum for its data centers as well as for the app that is being developed to support its business.