January 05, 2024
India's Mukesh Ambani lost the title of Asia's richest man after almost a year.
India's Gautam Adani has once again become Asia's richest man, replacing Mukesh Ambani.
It should be noted that in January 2023, American short-selling company Hindenburg said in a report that Dani Group has been involved in stock market manipulation and accounting fraud scheme for decades.
The report also called Gautam Adani the biggest fraudster in corporate history.
After this report, Gautam Adani's wealth declined and he was at the bottom of the list of the world's richest people in 2023, while Mukesh Ambani took the title of Asia's richest person.
But in recent days, the Supreme Court of India had issued an order that there is no need for a new investigation on Hindenburg's allegations.
After this decision, Gautam Adani's assets increased and now he has once again become the richest man in Asia.
According to a Bloomberg report on January 4, Gautam Adani's net worth increased by $7.7 billion to $97.6 billion, after which he overtook Mukesh Ambani to become Asia's richest man.
Mukesh Ambani currently owns $97 billion.
Adani Group's net worth fell significantly last year despite the US short-selling company denying the allegations.
Gautam Adani's wealth increased by $13.3 billion in the first four days of 2024 after an Indian court barred the local market regulator from investigating the Adani Group.
It should be noted that Gautam Adani started 2023 as the third richest person in the world with $119 billion and then went down after a steady decline in wealth.
Now a year later, he has become the richest person in Asia and the 12th richest person in the world.
