Gautam Adani's Net Worth Increased by $5.6 Billion in 6 Days

Indian billionaire Gautam Adani experienced a remarkable surge in his net worth last week. Thanks to the strong performance of Adani Group companies' stocks, his wealth increased by 5.6 billion dollars (₹46,663 crore).

This impressive rebound comes nearly a year after he faced significant losses due to allegations of financial irregularities leveled by the American short-seller Hindenburg. His current net worth stands at 59.5 billion dollars, making him the 20th richest person in the world according to Forbes.

The Adani Group has witnessed a significant surge in its stock prices recently. The flagship firm of the Adani Group, Adani Enterprises, rose nearly ₹240 per share (7.5%) to hit a 16-month high of ₹3,377.50. Reports suggest that it may replace Wipro on the BSE Sensex during the upcoming semi-annual index rejig. The stock of Adani Total Gas zoomed 5.50% on the BSE. Adani Power surged 5.49%. Shares of Adani Green Energy jumped 4.34%. ACC soared 4.17%.

This surge comes after the Adani Group's market capitalization regained the $200 billion mark (₹16.9 lakh crore) and investors reaffirmed their faith in the Conglomerate.

The group’s recovery was driven by the investments made by GQG Partners and Qatar Investment Authority. It also secured a 3.5 billion dollars refinancing loan which boosted investor sentiment in favour of the Adani Group.