Mukesh Ambani overtakes Gautam Adani to become richest Indian in the world

Reliance Industries Chairman Mukesh Ambani has overtaken Adani group chairman to become the richest Indian in the world. Ambani achieved this position with a net worth of USD 84.3 billion, as per the Forbes Real- time billionaire list of 2023.

Adani’s assets went down by 4.62 per cent while Ambani’s assets went up 0.19 per cent with an increase of wealth by USD 164 million. Ambani is now on rank 9 among the billionaires in the world just above Adani, who used to be on rank three earlier.

Louis Vuitton’s founder and CEO Bernard Arnault is on the top of this list.

Although Hindenburg Research’s study claimed that businesses owned by Gautam Adani were engaging in market manipulation and accounting fraud, The Adani Group stated that it was considering legal action against Hindenburg Research in both the US and India.

The Adani Group has addressed all 88 of Hindenburg Research’s queries, including the inexperience of its auditors, in a concise and targeted response to the report on its operations.

The Adani Group’s charges, according to Hindenburg, are “baseless.”

In today’s morning trade, shares of companies owned by the Adani Group decreased. The major market indices did, however, start the day higher as investors’ confidence increased in the Union Budget.

Shares of Adani Enterprises, the flagship firm of the group, fell 3.02 per cent to Rs 2,880.20 apiece on the BSE. In a span of five days, the shares were down 15 per cent. Adani Green declined 3.82 per cent to Rs 1,177.15 apiece and the shares had fallen about 38 per cent in a span of five days.

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