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Gautamadani

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business-and-finance2 years ago

Gautam Adani Regains Title as Asia's Wealthiest with $97.6 Billion Fortune

Gautam Adani has regained the title of Asia's richest person with a net worth of $97.6 billion, surpassing Mukesh Ambani who has a net worth of $97 billion. This comes shortly after India's Supreme Court ruled that no further investigations were necessary into allegations made by Hindenburg Research against Adani's business conglomerate. Adani's wealth increased by $7.7 billion in a single day, as reflected in the Bloomberg Billionaires Index.

via Bloomberg|
##asiarichestperson#bloombergbillionairesindex
business-and-finance2 years ago

"Gautam Adani Reclaims Title as Asia's Wealthiest Despite $80 Billion Loss"

Indian tycoon Gautam Adani has reclaimed his title as Asia's richest man with a net worth of $97.6 billion, surpassing Mukesh Ambani. This comes after a significant loss of over $80 billion in 2023 due to allegations of stock manipulation and fraud by Hindenburg Research. Adani's wealth has seen a rapid recovery, particularly after a recent court ruling that prompted a surge in Adani Enterprises' stock. Despite the controversy, Adani's business empire continues to thrive, with interests in various sectors and a close association with India's growth story.

via CNN|
##adanigroup#asiarichestman
business-and-finance2 years ago

"Supreme Court Directs Regulators to Conclude Adani-Hindenburg Probe as Shares Surge"

India's Supreme Court has declined to establish a new panel to investigate Hindenburg Research's allegations of fraud against Gautam Adani's companies, instead directing the Securities and Exchange Board of India (SEBI) to complete its ongoing investigation within three months. The court dismissed claims of a conflict of interest within the court-appointed panel and emphasized that investigations by third-party organizations like Hindenburg, which accused Adani of "the largest con in corporate history," cannot be considered conclusive evidence against SEBI's findings. Adani's firms experienced a significant market value loss following the allegations but have since seen a recovery in stock prices.

via BBC.com|
##business-and-finance#gautamadani
business-and-finance2 years ago

"Adani Group's Resilient Surge Amid Challenges and Debt Concerns"

Gautam Adani, the billionaire head of the Adani Group, has declared the past year as one of "extraordinary contrasts," ending in a position of "unprecedented strength" despite facing a short seller attack and opposition from various groups. The Supreme Court-appointed committee validated the group's integrity and governance, dismissing the allegations against them. Adani Group's operating income soared by 47% in the first half of FY24, and the conglomerate plans to invest $100 billion over the next decade, focusing on clean energy. The group has also gained the trust of prominent global investors and is undertaking ambitious projects, including the world's largest renewable energy park and the development of Navi Mumbai airport.

via NDTV Profit|
##adanigroup#business-and-finance