Gautam Adani back in list of top 20 billionaires

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.