Gautam Adani and his family have surpassed Mukesh Ambani to lead the 2024 Hurun India Rich List.
New Delhi: 29 August 2024
With a wealth of ₹11.6 lakh crore, Gautam Adani and his family have surpassed Mukesh Ambani to lead the 2024 Hurun India Rich List. Mr Adani came in at number four on the list in 2020. The past year has seen a 95% growth in Mr. Adani’s wealth. His ascension is highlighted by recovery from the Hindenburg report, which drew intense attention. China saw a 25% decrease in the number of billionaires, whereas India saw a 29% increase.
“Following the Hindenburg charges, Gautam Adani (62) and his family have risen like a phoenix, taking the top spot in this year’s rankings with a 95% boost in fortune over the previous year, raising their total to INR 1,161,800 crore. As a self-made entrepreneur, Adani has experienced the highest wealth growth inside the top ten over the last five years, adding INR 1,021,600 crore, despite the obstacles following the report,” the Hurun Rich List says.
“All Adani Group firms’ share values have risen significantly over the last year. Adani Ports, for example, saw a 98% gain due to higher utilization and the anticipated acquisition of new ports and container terminals. Meanwhile, share prices for energy-focused companies Adani Energy, Adani Gas, Adani Transmission, and Adani Power increased by an average of 76%. Furthermore, MSCI’s decision to eliminate restrictions on Adani Group shares in its August 2024 review signals a return to normal operations, implying a stabilizing outlook for important equities such as Adani Enterprises, Adani Ports, and Ambuja Cements. Hurun ascribed the riches of the family trust and overseas enterprises under the promoter group to Gautam Adani and his family this year,” the report added.
With a net worth of ₹ 10.14 lakh crore, Mr. Ambani was placed second in the rankings. The July 31, 2024, snapshot serves as the basis for the wealth computations that are displayed.
A record 334 billionaires now reside in the nation, according to the report.
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