New Delhi, Feb 8 (EFE).- Indian billionaire Gautam Adani is back in the elite group of people with a fortune of over $100 billion, a year after his empire collapsed over stock manipulation accusations.
Adani’s net worth stood at $101 billion on Thursday, according to the Bloomberg Fortune Index.
The Indian tycoon occupies 12th place on this list, behind businessman Mukesh Ambani, the richest Indian with a $108 billion fortune, according to Bloomberg.
The billionaire’s wealth is at its highest since the US short-seller Hindenburg Research published a report accusing Adani companies of engaging in market manipulation and other fraudulent practices in January 2023.
But his fortune is still $50 billion below its peak in 2022.
According to the Hindenburg research report, based on interviews with former conglomerate executives and extensive documents, Adani accrued most of his fortune through stock price appreciation in the group’s seven key companies, experiencing an average increase of 819 percent.
Adani has rejected the allegations, calling them an attempt to destabilize his share prices in the market.
The stock market regulatory authority stated in May that it found no evidence of irregularities in the group’s operations.
On Jan. 3, India’s Supreme Court dismissed petitions calling for an independent investigation into alleged accounting fraud and stock manipulation by the Adani group. EFE
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