Gautam Adani is India’s richest businessman
Gautam Adani, chairperson of the Adani Group of companies, has once again become India’s richest man by defeating Reliance Industries Chairman Mukesh Ambani in the Bloomberg Billionaires Index. Due to the rise in shares, Gautam Adani has made his place in the top 12 in the world ranking, while Ambani is down one place at 13th position.
Gautam Adani’s net worth has increased by 13 billion dollars i.e. about Rs 1.08 lakh crore this year to reach 97.6 billion dollars i.e. about Rs 8.12 lakh crore. Whereas Mukesh Ambani’s net worth has increased by Rs 665 million i.e. about Rs 5 thousand crore this year to $97 billion i.e. about Rs 8.07 lakh crore.
Elon Musk is the richest businessman in the world
Elon Musk, CEO of electric vehicle company Tesla, is the world’s richest businessman with a net worth of Rs 18.31 lakh crore. He is followed by Amazon founder Jeff Bezos with a net worth of Rs 14.06 lakh crore and at third place is Bernard Arnault of LVMH. His net worth is Rs 13.98 lakh crore.
Increase in net worth due to Supreme Court’s decision
Due to the Supreme Court’s decision in the Adani-Hindenburg case, all 10 shares of the group saw a rise, due to which Adani’s net worth has increased. On January 24 last year, American shortseller company Hindenburg accused Gautam Adani of share manipulation and money laundering, after which there was a huge fall in the company’s shares.
After these allegations, Adani’s net worth declined by almost 60% to $69 billion (Rs 5.7 lakh crore).
6 member committee and SEBI were investigating
The Supreme Court had formed a 6-member committee to investigate the case. Apart from this, market regulator SEBI was also asked to investigate. The Supreme Court had said 4 big things in its decision on January 3, which in a way is a clean chit for Adani.
- SEBI completes investigation in 22 cases, completed investigation in 2 cases within 3 months.
- The power of this court to interfere in the regulatory framework of SEBI is limited.
- The OCCPR report cannot be seen as a doubt on SEBI’s investigation.
- There is no basis to transfer the investigation from SEBI to SIT.
- Adani is the owner of the country’s largest private port.
- Adani Group of Ahmedabad led by Gautam Adani works mainly in the infrastructure sector. It owns the country’s largest private port and plays a major role in global coal trading. The flagship company of Gautam Adani’s group is Adani Enterprises.
