On Wednesday, the ten Adani Group companies experienced a significant surge in their market capitalization, adding approximately Rs 64,500 crore, following a favorable judgment from the Supreme Court. This ruling pertained to a set of petitions calling for a new investigation into the allegations made against the conglomerate in the Hindenburg report.
Consequently, the total market value of Adani Group companies rose to Rs 15.11 trillion, marking an increase from Rs 14.47 trillion the previous day. This boost in market capitalization propelled Gautam Adani and his family ahead of Mukesh Ambani of Reliance Industries, earning them the title of India’s richest business family.
Gautam Adani, whose fortunes have escalated, now ranks 12th among the world’s wealthiest individuals, surpassing Mukesh Ambani, who is currently positioned at 13th place. Both Indian business magnates have climbed the global wealth rankings compared to their positions last year.
Back in December 2023, Adani had ascended to the 15th spot globally, closely trailing Ambani who was then at the 14th position.
With a current net worth of $97.6 billion, Gautam Adani stands as the 12th richest person globally and the wealthiest individual in both India and Asia. This represents a significant gain of $7.67 billion from his previous ranking and an impressive increase of $13.3 billion in his wealth since the start of the year (YTD). Last year, Adani’s net worth had suffered a decline due to the allegations made in the Hindenburg report.
Following the Supreme Court’s decision, Adani Group stocks witnessed a remarkable rise, with some shares increasing by as much as 12%. This surge contributed to the group’s market capitalization exceeding ₹15 lakh crore.
On the same day, the net worth of Gautam Adani’s family grew to ₹9.37 lakh crore, up from ₹8.98 lakh crore. In contrast, the Ambani family’s net worth saw a slight decrease, moving from ₹9.38 lakh crore to ₹9.28 lakh crore during the same timeframe.