Gautam Adani left two billionaires behind overnight, increasing his wealth to 17,000 crore rupees.

Gautam Adani is once again grabbing headlines with his lightning-fast ascent in the list of the world's richest people. Gautam Adani left two billionaires behind overnight, increasing his wealth to 17,000 crore rupees.

Gautam Adani's wealth increase by 17,000 crore rupees overnight

In just 24 hours, his wealth grew by a whopping $2.14 billion, helping him beat not one, but two billionaires. This catapulted him to the 18th spot among the planet's wealthiest individuals.

According to the Bloomberg Billionaires Index, Gautam Adani's net worth skyrocketed by a jaw-dropping $2.14 billion, or roughly INR 17,780 crore, in just one night.

Adani's Astonishing Climb:

After a sudden surge of over INR 17,000 crore in his wealth, Gautam Adani made his way to the 18th rung of the ladder among the world's richest people. This boost pushed his net worth to a remarkable $65.9 billion. The shares of Adani Group companies performed exceptionally well in the stock market on Friday and Monday, drawing attention to this rapid rise.

Adani Group's Market Value:

Thanks to the impressive performance of their shares, the market value of Adani Group crossed the INR 11 lakh crore mark this year.

Leaving Two Billionaires Behind:

In just one night, Gautam Adani surpassed two billionaires who were previously ranked 18th and 19th. His wealth increase of $2.14 billion enabled him to overtake Charles Koch, whose fortune shrunk to $64.3 billion from $145 million. Similarly, Julia Flesher Koch & Family's net worth also declined by $145 million to $64.3 billion. This decrease in the Koch family's wealth affected Adani's ranking.

Hindenburg Report's Impact:

The market capitalization of Adani Group suffered a significant hit after the release of a report by American short-seller Hindenburg earlier this year. The report's negative impact caused a drop in Adani's stock prices.

Big Losses and Bouncing Back:

Adani Group's stocks faced substantial losses following the Hindenburg report. However, in the past couple of months, Adani's stocks have shown signs of recovery. It's important to note that Gautam Adani's rise to the second spot in the Top-10 Billionaires List in 2022 was impressive. Yet, after the Hindenburg report, he slipped out of the top 30 billionaires within just two months. Adani's wealth has seen a decrease of $56.7 billion this year.

Chasing Mukesh Ambani:

Gautam Adani has been in a friendly rivalry with Mukesh Ambani for quite some time in the billionaire rankings. With his recent wealth surge, the gap between him and Asia's richest person, Mukesh Ambani, has narrowed. Mukesh Ambani, the head of Reliance Industries, holds the 11th position in the billionaires' list with a net worth of $94.6 billion. The difference in net worth between these two billionaires is now $28.7 billion.

In a nutshell, Gautam Adani's wealth has seen remarkable ups and downs due to market factors, including the Hindenburg report's impact. Despite challenges, his journey on the list of the world's richest individuals continues to capture attention.

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