Business World Latest Update: Gautam Adani has once again entered the list of top 20 billionaires

Gautam Adani in list of top-20 billionaires: All the 10 shares of Adani Group have seen strong growth, due to which the interest of investors in the shares has increased.
Business World Latest update
Business World Latest update

Business World Latest update: Indian billionaire businessman Gautam Adani has once again made his place in the top-20 richest people in the world, increasing the combined market capitalization of companies owned by the Adani group by Rs 1.33 lakh crore. At the same time, Adani is now at the 19th position in the Bloomberg Billionaires Index. According to a Bloomberg report, his net worth has increased by $6.5 billion.

Shares rose

Indeed, all 10 shares of Adani Group have seen strong gains following the Supreme Court's comments on market regulator Securities and Exchange Board of India's (Sebi) probe against the group, fueling investor interest in the shares. At the same time, the combined market capitalization of all Adani shares has increased from Rs 33,000 crore to Rs 11.6 lakh crore on Wednesday.

2nd place among Indian emirs

Adani is second in the list of Indian emirs after Mukesh Ambani. His ranking fell below 25 points due to the results of the Hindenburg Research Report in January, within a month of the report's release. At the same time, he started the year as the third richest man in the world. On Friday, November 24, the top court said it had no reason to discredit market regulator Securities and Exchange Board of India's (SEBI) probe against the group. Meanwhile, the court had reserved its order on a bench of petitions related to the Adani-Hindenburg dispute.

The Supreme Court said that there was no evidence before the market regulator to cast doubt on what the market regulator had done and the court need not accept the Hindenburg Report as the truth of the matter. The court also said that it cannot ask any statutory regulator to accept anything published in the media as divine truth.

Meanwhile, a bench headed by Chief Justice DY Chandrachud also asked SEBI what it intends to do in future to ensure that investors do not lose money due to short selling due to volatility in the stock market. The court said that it would not be appropriate for it to decide that a Special Investigation Team (SIT) was constituted without any evidence.

Let's say that the Bloomberg Billionaires Index shows the net worth of the world's 500 richest people. The first three places in this list are occupied by Elon Musk ($228 billion), Jeff Bezos ($177 billion) and Bernard Arnault ($167B).

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