Gautam Adani net worth rises to USD 39.9 billion, climbes up in billionaire list

Gautam Adani, an Indian billionaire, saw a dramatic decline in his net worth after the US-based Hindenburg published a thorough study on January 24. Due to short-selling by Hindenberg, the price of Adani Group's stock plummeted earlier in the month, and Adani Enterprises' shares began the day with a 10% loss.

An industrialist from India was also removed off the top richest men list. Gautam Adani's standing on the list just increased by 4 positions, putting him in 30th place. Gautam Adani has risen in the Bloomberg Billionaire Index because of the sharp increase in the stock price of the companies. After the net worth of Indian industrialists increased by more than $ 2 billion, Gautam Adani's current net worth is $39.9 billion (roughly Rs 32 lakh crore).

The Adani Group firms' stocks, which have been losing money recently as a result of the Hindenburg research report, have suddenly reversed course and are now trading in the green. Following the report against the Adani group, it was the company that was most severely impacted. It dropped 82.5 percent in 24 sessions up until yesterday.

Reason behind Adani group's stock prices recovery

The shares of the Adani Group rose on Tuesday as news broke that Gautam Adani intended to pay back or refund share-backed loans totaling $690 million to $790 million by the end of March. The action is intended to raise the conglomerate's credit standing.

Earlier, a sharp decline in stock values was seen despite the group's denial of all of Hindenburg Research's claims. Mukesh Ambani's worth decreased by more than $5 billion, making Adani not the only Indian industrialist whose wealth significantly decreased. Mukesh Ambani, a business tycoon, currently has a staggering net worth of $79.7 billion.

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