Gautam Adani, founder and chairman of the Adani Group, is back on the list of top 20 billionaires in Bloomberg Billionaires list.
After a Supreme Court-appointed panel, on Friday, found no evidence of stock price manipulation in the group companies and a separate Sebi probe into alleged violation of money flows from offshore entities drew a blank, the shares of all Adani Group companies witnessed heavy buying.
A few months ago, as the Hindenburg report stirred a political row and triggered a rout in the conglomerate's stocks, Adani was dethroned as the world's third-richest man.
With a net worth of $64.2 billion, he is placed 18th on the list of billionaires on Wednesday. In the wake of heavy buying in Adani Group stocks, his wealth went up by $4.38 billion in the past few days.
In September 2022, Adani was the world's second richest person with a total net worth of $154. However, he slipped out of the list following the report of US-based short seller Hindenburg Research that alleged fraud, stock manipulation, and money laundering at the apples-to-port group.
Fellow Indian Mukesh Ambani is 13th on the list with a net worth of $84.1 billion.