Gautam Adani Bounces Back, Enters$100 Billion Club Yet Again!

Gujarat-based business tycoon Gautam Adani’s case is a classic example of how people can see ups and downs in the business sector. Despite the Covid outbreak Gautam Adani managed to add big wealth to his name and even emerged as the world’s richest man at one point.

Having almost seen the peaks at one point, Gautam Adani faced a big blow as his wealth started coming down. His future once looked bleak as his wealth was restricted to $37.7 billion. The report released by United States-based Hindenburg Research played a big role in this.

The report claimed that the Adani group has a few irregularities in the way it operates and a few shell companies were also involved in expanding the business empire.

After the report was released the Adani group went through a lot of troubles and the companies fell largely. The Adani industries even recorded the least share value for the company with this.

Now Gautam Adani surprised the world as he bounced back. He once again entered the $100 billion club in wealth. His worth now stands at more than 100 billion dollars.

As per the new rankings of the Bloomberg Billionaires Index, Gautam Adani emerged as the 12th richest person in the world as his worth reached $101 billion. After around one year of the Hindenburg Research-triggered crisis the business tycoon bounced back.

The shares of the Adani Enterprises saw a big jump in profit which drove the increase in the company shares. For the past few days, the shares are seeing an uptick. With the new big jump, the shares saw a big growth that helped Gautam Adani increase his wealth.

The alleged irregularities in Gautam Adani industries created a sensation in the country with the opposition parties alleging support from the BJP to the Gujarat-based business tycoon. The issue even reached the Supreme Court. As a big relief, he was given a clean chit by the Securities and Exchange Board of India(SEBI).