Adani overtakes Ambani as Asia’s richest man

The tycoon reclaims top spot as Supreme Court ruled in his group’s favor following stock-manipulation allegations

Gautam Adani, the Indian billionaire behind the Adani Group conglomerate, has again climbed to the top of Asia’s richest list, a day after his country’s Supreme Court refused to order a special probe into stock-market manipulation allegations against the company.

The industrialist is currently 12th position on the Bloomberg Billionaires Index, with a net worth of $97.6 billion, just one rung above fellow Indian magnate Mukesh Ambani, chairman of Reliance Industries, who has a $97-billion personal fortune. Notably, Adani’s net worth rose by $7.67 billion in the last 24 hours, buoyed by a surge in the stock prices of his companies.

In a major relief to the 61-year-old, this week the apex court directed the nation’s stock-market regulator SEBI to complete an ongoing investigation into the group within a period of three months,…

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Adani overtakes Ambani as Asia’s richest man

 

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