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Nate Anderson, founder of the US-based short-seller firm Hindenburg Research, has announced the closure of operations. Anderson clarified that the decision was not prompted by external threats, health issues, or personal matters.

Hindenburg Research, the US-based short seller behind Adani report, to shut down

Nate Anderson, founder of the US-based short-seller firm Hindenburg Research, has announced the closure of operations. Anderson clarified that the decision was not prompted by external threats, health issues, or personal matters.

Nate Anderson, the founder of the US-based short-selling firm Hindenburg Research, announced on Thursday his decision to close down the operations of the investigative firm.
<a href="https://hindenburgresearch.com/gratitude/" target="_blank">In an official statement</a>, Anderson explained that the closure was not due to external pressures, personal health concerns, or significant problems but rather his desire to step away from the demanding nature of his work and shift focus to other life aspects. He stated, "As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research."
Anderson further clarified, "So, why disband now? There is not one specific thing&mdash;no particular threat, no health issue, and no big personal issue." Reflecting on the challenges he faced throughout his journey, Anderson acknowledged the financial difficulties, legal battles, and moments of self-doubt. He remarked, "I had no money when I started&mdash;and after catching 3 lawsuits immediately out of the gate, I quickly had less than no money."
Looking ahead, Anderson plans to open-source the investigative techniques used by his firm to inspire others in uncovering fraud. Over the next six months, he intends to create materials and videos detailing the methodologies that made Hindenburg Research successful. Although his future plans remain uncertain, he expressed deep gratitude to his team, family, and supporters.
In January 2023, Hindenburg Research made headlines by publishing a report accusing the Adani Group of financial irregularities, resulting in a substantial drop in the company&rsquo;s stock price. The Adani Group swiftly dismissed the allegations. Addressing the issue at the Adani Enterprises Annual General Meeting (AGM) in June, Group Chairman Gautam Adani stated, "We were faced with baseless accusations made by a foreign short seller, that questioned our decades of hard work." He added, "In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which your Group has been established."

A New York court has ordered the consolidation of three ongoing cases involving Gautam Adani and others accused of a USD 265 million bribery scheme related to solar energy contracts.

Adani Group to face joint trial over bribery allegations in US Court

Adani and the others involved are accused of paying bribes worth USD 265 million (approximately Rs 2,029 crore) to secure solar energy contracts with state electricity distribution companies.

In a significant legal development, a New York court has decided to combine three ongoing cases involving industrialist Gautam Adani and others, related to bribery allegations amounting to USD 265 million. The court ruled that these cases will be heard together in a unified trial.
The decision follows the court's observation that the cases arise from similar allegations and transactions. The combined cases include the criminal case US vs. Adani and others, the civil case Securities and Exchange Commission (SEC) vs. Adani and others, and another civil case SEC vs. Cabanes concerning the other accused individuals.
The court's move is aimed at enhancing judicial efficiency and preventing conflicting schedules. All cases will be assigned to District Judge Nicholas G. Garaufis, who is already overseeing the criminal case against Adani. The court's administrative team has been tasked with the reassignment process.
Adani and the others involved are accused of paying bribes worth USD 265 million (approximately Rs 2,029 crore) to secure solar energy contracts with state electricity distribution companies. Previous allegations by US prosecutors suggested that these payments were concealed from US banks and investors from whom Adani Group raised funds for the projects.
The Adani Group has vehemently denied the allegations, calling them "baseless." A spokesperson for the company emphasized their compliance with the law, asserting that the indictment relies on charges that have yet to be proven, and that the defendants are presumed innocent until proven guilty.

Gautam Adani praises 18-year-old chess prodigy Gukesh Dommaraju for his world championship victory, marking a new era in India's chess revolution.

Youngest world chess champion D Gukesh meets Gautam Adani

Gukesh was among four athletes who the government decided to award the Major Dhyan Chand Khel Ratna award -- the country's highest sporting honour.

Billionaire Gautam Adani called teenager Gukesh Dommaraju -- who became the youngest world chess champion by beating defending champion Ding Liren of China -- a testament of India's unstoppable youth.
The chess champion, along with his parents, met Adani in Ahmedabad.
&nbsp;
&nbsp;
<blockquote class="twitter-tweet">
It was an absolute privilege to meet and hear the victory story of reigning World Chess Champion <a href="https://twitter.com/DGukesh?ref_src=twsrc%5Etfw">@DGukesh</a>. Equally inspiring was meeting his incredible parents, Dr Rajinikanth and Dr Padmavathi, whose quiet sacrifices laid the foundation for his success. At just 18, Gukesh&rsquo;s&hellip; <a href="https://t.co/CL12qIfSHY">pic.twitter.com/CL12qIfSHY</a>
&mdash; Gautam Adani (@gautam_adani) <a href="https://twitter.com/gautam_adani/status/1874422639231475949?ref_src=twsrc%5Etfw">January 1, 2025</a></blockquote>
&nbsp;
&nbsp;
&nbsp;
"It was an absolute privilege to meet and hear the victory story of reigning World Chess Champion @DGukesh," Adani, chairman of ports-to-energy Adani Group, said in a post on X.
Posting pictures with the teenager and his parents, Adani said, "Equally inspiring was meeting his incredible parents, Dr Rajinikanth and Dr Padmavathi, whose quiet sacrifices laid the foundation for his success."
"At just 18, Gukesh's poise and brilliance are a testament to India's unstoppable youth. Prodigies like him are inspiring a new generation, building an army of champions ready to dominate global chess for decades. This is the confident, resurgent and rising India. Jai Hind!" he said.
Gukesh became the 18th world champion after defeating Ding in a 14-game match in Singapore last month.
He is four years younger than Garry Kasparov, who had been the youngest world champion since 1985 when he beat Anatoly Karpov.
On Thursday, Gukesh was among four athletes who the government decided to award the Major Dhyan Chand Khel Ratna award -- the country's highest sporting honour.
Besides becoming the youngest-ever world champion, Gukesh had also helped the Indian team win a historic gold in the Chess Olympiad last year.
"The awardees will receive their awards from the President of India at a specially organised function at Rashtrapati Bhavan on 17th January, 2025 (Friday) at 1100 hours," the sports ministry said in a press release on Thursday.
After the Singapore match, Adani had called his victory "stunning".
"At just 18, @DGukesh has made history! What an achievement - the youngest-ever undisputed classical chess world champion, beating the great Ding Liren! This isn't just a victory - it is a defining moment for India's chess revolution, where an entire bold generation of champions dares to dream and inspires an entire nation to rise! Congratulations Gukesh!" he had said in a post on X on December 12.

The Congress party continued its creative protests outside Parliament on December 11, using symbolic props to highlight the Adani bribery case. 

Congress Protests Amid Adani Allegations

The Congress party continued its creative protests outside Parliament on December 11, using symbolic props to highlight the Adani bribery case.

The Congress party continued its creative protests outside Parliament on December 11, using symbolic props to highlight the Adani bribery case. Following previous protests with jackets, masks, and bags, Congress leaders, including Rahul Gandhi, were seen distributing roses and the Tricolour to BJP MPs. Gandhi presented a rose and a Tricolour to Defence Minister Rajnath Singh as he arrived at the Lok Sabha.
Opposition leaders from the INDIA bloc also participated, carrying roses and flags as they stood at the entrance of Parliament. Congress MP Manickam Tagore explained the gesture, saying, "We are waiting for BJP members and want to give them a card with the Indian flag and a rose to remind them that the nation comes first."
The protest coincided with ongoing opposition accusations that the central government was avoiding discussions about the bribery allegations against Adani. The issue has caused continuous disruptions in both Houses of Parliament since the session began on November 20. The Congress demands a debate on the Adani case, while the BJP counters with claims about Congress' alleged ties to billionaire George Soros, asserting that the former Congress president and the party are linked to organizations funded by Soros, who allegedly supports the separatist cause in Kashmir.
The Adani bribery allegations, which involve over $250 million in bribes between 2020 and 2024, were brought to light by US prosecutors. The case concerns Adani's attempts to secure solar energy contracts from the Indian government under terms that could potentially generate over $2 billion in profits.
Meanwhile, the Opposition INDIA bloc parties submitted a notice in the Rajya Sabha on December 10, seeking the removal of Vice President Jagdeep Dhankhar, accusing him of partisan conduct as the Chairman of the Upper House. While the motion to remove Dhankhar would require a simple majority in the 243-member Rajya Sabha, the opposition lacks the numbers needed to pass it. However, opposition leaders maintained that the motion was an important step to uphold parliamentary democracy.
The Rajya Sabha was adjourned till noon as both opposition and government members exchanged heated accusations over the no-confidence motion against Dhankhar.

Congress leader Priyanka Gandhi Vadra carried a bold bag to Parliament, featuring a design with Prime Minister Narendra Modi and industrialist Gautam Adani on one side and the slogan "Modi Adani Bhai Bhai" on the other.

Priyanka Gandhi carries 'Modi-Adani' bag to Parliament

Congress leader Priyanka Gandhi Vadra carried a bold bag to Parliament, featuring a design with Prime Minister Narendra Modi and industrialist Gautam Adani on one side and the slogan "Modi Adani Bhai Bhai" on the other.

Congress leader Priyanka Gandhi Vadra carried a bold bag to Parliament, featuring a design with Prime Minister Narendra Modi and industrialist Gautam Adani on one side and the slogan "Modi Adani Bhai Bhai" on the other.
The bag drew attention from her brother, Rahul Gandhi, who commented with a smile, &ldquo;Look how cute this is!&rdquo; after examining the design and slogan.
This gesture is part of the ongoing opposition criticism of the government, particularly regarding allegations of bribery involving Adani in the U.S. Since the beginning of the parliamentary session on November 20, both Houses have faced repeated disruptions as the opposition demands a probe into the matter.
On Monday (December 9), Congress MPs Manickam Tagore and Saptagiri Sankar Ulaka wore face masks of Modi and Adani as part of protests demanding a joint parliamentary investigation into the bribery case.
Rahul Gandhi was seen clicking pictures of the MPs and jokingly asking about their "relationship," to which they humorously replied, "We have had a relationship for years."
Opposition MPs from the INDIA alliance, excluding Trinamool Congress, Samajwadi Party, and Aam Aadmi Party, joined the protests, chanting slogans such as "Modi, Adani ek hain" and "We want justice" outside the Makar Dwar of Parliament.
Also Read: <a href="https://www.editorji.com/india-news/lalu-prasad-yadav-backs-mamata-banerjee-for-india-bloc-leadership-1733812268497">Lalu Prasad Yadav Backs Mamata Banerjee for INDIA Bloc Leadership</a>

The Indian business tycoon has committed to investing 10 billion dollars in US energy security and infrastructure projects

Gautam Adani’s Big Move: Adani Group's $10 Billion Bet on Trump 2.0

The Indian business tycoon has committed to investing 10 billion dollars in US energy security and infrastructure projects

Gautam Adani is making a big bet on Trump&rsquo;s second term.
Congratulating President Trump on his re-election, the Indian business tycoon has committed to investing 10 billion dollars in US energy security and infrastructure projects.
In his post on X, Adani also mentioned that his group aims to create 15,000 jobs in the United States.
Gautam Adani, Chairman of the Adani Group, is Asia&rsquo;s second-richest person. His coal-to-new energy conglomerate has a vast global footprint.&nbsp;
Must Watch: <a href="https://www.editorji.com/business-news/us-retail-inflation-surges-by-2-6-what-this-means-for-fed-rate-cuts-1731563791531">US Retail Inflation Surges By 2.6%: What This Means for Fed Rate Cuts</a>

Gautam Adani is projected to become the world’s second trillionaire by 2028, following Elon Musk in 2027. With an annual growth rate of 123%, Adani’s empire spans 11 major sectors in India. A future trillionaire in the making!

Gautam Adani: World's Second Trillionaire by 2028, Following Elon Musk

Gautam Adani is projected to become the world&rsquo;s second trillionaire by 2028, following Elon Musk in 2027. With an annual growth rate of 123%, Adani&rsquo;s empire spans 11 major sectors in India. A future trillionaire in the making!

Nitin Kamath hit the bull's eye when he said that.
Because Elon Musk, the owner of EV giant Tesla, is expected to become the first trillionaire on the planet. He's poised to become the first entrant to what is also called the four-comma club by 2027, but this story isn't about Musk.
Today, we're putting the spotlight on Indian industrialist Gautam Adani, the richest Indian according to the Hurun Rich List 2024.
According to Informa Connect's Billionaire to Trillionaire List, Adani is on track to become a trillionaire by 2028. Let's break down this massive milestone and what it means for India, Adani Group, and global business.
Gautam Adani, the business mogul who leads the Adani Group, is already a force to be reckoned with, boasting a net worth of over $84 billion as of 2024. But in just four years, he's expected to cross the trillion-dollar mark. That's a staggering average growth rate of 123% per year!
What will propel him to this dizzying height of wealth is his mega business machine &ndash; The Adani empire. The Adani Group isn't an ordinary company&mdash;it's a behemoth with interests in everything from ports, green energy, and real estate to defence, airports, and even Fast-Moving Consumer Goods (FMCG). With 11 listed companies, Adani's empire touches nearly every major sector in India and several key global markets.
But Adani isn&rsquo;t just thinking about the present. At 62, Gautam Adani is already planning for the future. He recently shared his succession plan with Bloomberg, emphasising that succession is crucial for business sustainability, especially for a conglomerate of this size.
His sons, Karan and Jeet Adani, along with cousins Pranav and Sagar Adani, will take over the $213 billion empire. Karan Adani is already the CEO of Adani Ports and Special Economic Zone (SEZ), handling logistics and ports. Jeet Adani oversees the group's digital business and private airports, while Pranav and Sagar manage oil, agriculture, and renewable energy, respectively. This seamless succession plan ensures that the Adani Group remains a dominant force for years to come.
So what's next for Adani? As his group continues to grow across sectors like renewable energy, infrastructure, and more, it's clear that the sky is the limit. With a future trillionaire in the making, the impact on India's economy and the global market will be monumental.
And let's not forget Mukesh Ambani. He's also on this elite list, projected to become the second Indian to hit the trillion-dollar mark by 2033, ranking 8th globally.
If you found this story fascinating, please hit the like button. And don't forget to subscribe so you never miss a story like this. Thanks for watching!

Adani Group Chairman Gautam Adani shares his inspiring journey of moving to Mumbai at the age of 16, leaving behind his education. Discover the challenges he faced and the mindset that drove him to success.

Gautam Adani on Breaking Boundaries: Why He Left His Education and Moved to Mumbai at 16

Adani Group Chairman Gautam Adani shares his inspiring journey of moving to Mumbai at the age of 16, leaving behind his education. Discover the challenges he faced and the mindset that drove him to success.

Upon his retirement, Adani's four heirs—sons Karan and Jeet, and their cousins Pranav and Sagar—will inherit equal shares of the family trust. The Adani Group, spanning sectors from infrastructure to solar energy, is set for ambitious expansion

Gautam Adani's bold succession plan: Handing over the conglomerate to the next generation

Upon his retirement, Adani's four heirs&mdash;sons Karan and Jeet, and their cousins Pranav and Sagar&mdash;will inherit equal shares of the family trust. The Adani Group, spanning sectors from infrastructure to solar energy, is set for ambitious expansion

Imagine passing down a 213 billion dollar empire to the next generation. Well, Gautam Adani, at 62, plans to do just that by the early 2030s, entrusting his sons and nephews with the future of the Adani Group. For the first time, Adani publicly shared his succession plans with Bloomberg, emphasizing a well-orchestrated transition for lasting business sustainability. &lsquo;Succession is crucial for business sustainability,&rsquo; Adani asserted, preferring an organic, gradual, and systematic transition. Upon his retirement, Adani's four heirs&mdash;sons Karan and Jeet, and their cousins Pranav and Sagar&mdash;will inherit equal shares of the family trust. The Adani Group, spanning sectors from infrastructure to solar energy, is set for ambitious expansion. And Gautam Adani is confident his heirs are up to the task. Talking about them, the Adani Group Chairman said, &lsquo;I'm happy they're hungry for growth, which is rare in the second generation. They must work together to build a legacy.&rsquo;

Shares of Adani Group on friday companies rose by up to 14 percent following a positive outlook from US brokerage Jefferies, which noted the group's plans for a 90 billion dollars capital expenditure over the next decade

Gautam Adani surpasses Ambani as richest Asian

Shares of Adani Group on friday companies rose by up to 14 percent following a positive outlook from US brokerage Jefferies, which noted the group's plans for a 90 billion dollars capital expenditure over the next decade

Gautam Adani has retaken the tag of richest person in Asia after a surge in stock price of the listed companies in his apples-to-airport conglomerate helped him overtake Reliance Industries head Mukesh Ambani.
Adani with a net worth of USD 111 billion is now ranked as the 11th richest in the world, ahead of Ambani whose USD 109 billion wealth placed him at No. 12, according to the Bloomberg Billionaires Index.
Shares of all Adani Group companies surged on Friday by up to 14 per cent after US brokerage Jefferies put a bullish view on the group that is back to an expansion spree with a planned USD 90 billion capital expenditure over the next decade.
Also read/watch - <a title="NHAI increases highway tolls by 5%" href="https://www.editorji.com/business-news/nhai-increases-highway-tolls-by-5-1717396512897">NHAI increases highway tolls by 5%</a>
Share of Adani group companies&nbsp;
An addition of Rs 84,064 crore in market value took the market capitalisation of 10 Adani group listed firms to Rs 17.51 lakh crore at the close of trading on Friday. This helped Adani, a first generation entrepreneur and chairman of the namesake conglomerate, overtake Ambani, who is currently on a cruise in Europe for a second, multi-million-dollar pre-wedding celebration of his youngest son Anant.
Adani, 61, had in 2022 become Asia's richest man after his personal wealth rose even as the global economy suffered a period of slowing growth. But in January 2023, his sprawling USD 21 billion conglomerate that owns many of India's airports, the nation's largest private-sector port, the media giant New Delhi Television, largest renewable energy firm, data centres and many other holdings was hit by a damning report by prominent short-seller Hindenburg Research. Adani Hindenburg&nbsp;
Hindenburg alleged Adani's business empire was built through fraud, sending stock prices of his group crashing by USD 150 billion at its lowest point and him out of the world's top 20 billionaires. Ambani, who had to give away his Asia's richest tag to Adani in 2022, was again the top billionaire.
Adani group denied all allegations and worked on a comeback strategy that included containing debt, reducing founder share pledge and consolidating business in core competencies.

The sale of the Gopalpur Port is the second port divestment in the last few months from the SP Group, a diversified construction and infrastructure, real estate and energy conglomerate

Shapoorji Pallonji Group sells Gopalpur Port to Adani Ports for ₹3,350 crore

<h2>The sale of the Gopalpur Port is the second port divestment in the last few months from the SP Group, a diversified construction and infrastructure, real estate and energy conglomerate</h2>

The Shapoorji Pallonji Group on Tuesday announced the sale of its brownfield Gopalpur Port to Adani Ports and SEZ Ltd for an enterprise value of Rs 3,350 crore, as part of its deleveraging strategy with planned asset monetisation.
The under-construction Gopalpur Port in Odisha was acquired in 2017 by the SP Group.
Currently, it is capable of handling 20 MTPA. The port had recently signed up with Petronet LNG for setting up a greenfield LNG regasification terminal, adding predictable long-term cash flows for the port, the group said in a statement.
The sale of the Gopalpur Port is the second port divestment in the last few months from the SP Group, a diversified construction and infrastructure, real estate and energy conglomerate.
It had earlier divested its Dharamtar Port in Maharashtra to JSW Infrastructure Ltd for an enterprise value of Rs 710 crore.
The group had acquired the Dharamtar Port in 2015 and had successfully turned around port operations, increasing capacity from less than 1 MTPA, when it took over to an expected capacity to handle 5 MTPA in FY24.
"The planned divestments of Gopalpur Port and Dharamtar Port, at a significant enterprise value, demonstrate our group's ability to turn-around assets and create stakeholder value in a relatively short period of time, capitalising our core strengths in project development and construction," a Shapoorji Pallonji Group spokesperson said.

 The investment will be made in financial year 2024-25, as the group doubles down on its eight lakh crore rupees investment guidance over the next 7-10 years

Billionaire with a ₹1.2 lakh crore investment plan: College dropout, he is now one of Asia's richest…

<h2>&nbsp;The investment will be made in financial year 2024-25, as the group doubles down on its eight lakh crore rupees investment guidance over the next 7-10 years</h2>

He dropped out of college to pursue business and now this billionaire is planning to invest 1.2 lakh crore rupees in his empire in just one year. Yes, we are talking about Gautam Adani, who is planning to invest this amount across Adani Group companies that range from ports to energy, airports, commodities, cement and media. Investment in FY25
The investment will be made in financial year 2024-25, as the group doubles down on its ₹8 lakh crore investment guidance over the next 7-10 years. The projected capital expenditure for FY25 is 40% higher than what the group spent in FY24. Leaders in many sectors
Today, Adani Group runs the world's second largest solar power company. It operates India's largest airport operator with 25% passenger traffic and 40% of air cargo. It also owns the largest ports and logistics company of India, with 30% market share, largest integrated energy player, and the country's second largest cement manufacturer.
Many infra projects in pipeline
Currently, Adani Group is also handling projects like Navi Mumbai Airport, Ganga Expressway, world's largest renewable park at Khavda in Gujarat and Mundra Port. It has committed a $100 billion investment over the next 7-10 years.&nbsp;
Focus on green energy
Sources say Adani Group plans to allocate over 70% of this $100 billion commitment to its green businesses including renewable power, green hydrogen, and green evacuation transmission lines.

Gautam Adani re-enters $100 billion club post Hindenburg controversy, becomes world's 12th richest person

Gautam Adani's $100 Billion Comeback: Back in billion club after Hindenburg dustup

<h2>Gautam Adani reclaims much of his wealth post the controversial report by US-based short-seller Hindenburg Research in 2023</h2>

Adani Group chairman Gautam Adani has bounced back into the $100 billion club, reclaiming much of his wealth post the controversial report by US-based short-seller Hindenburg Research in 2023, which then led to a crash in Adani group stocks and a substantial erosion of his wealth. Bloomberg reports that Adani's net worth has surged to $100.7 billion, propelling him to the 12th position among the world's wealthiest. Notably, Adani has witnessed a recovery of $16.4 billion in wealth this year alone. However, Adani&rsquo;s fortune is still about $50 billion below its 2022 peak.
Also read/watch - <a title="RBI credit policy: Monetary policy committee keeps repo rate unchanged for 6th time" href="https://www.editorji.com/business-news/rbi-credit-policy-monetary-policy-committee-keeps-repo-rate-unchanged-for-6th-time-1707366966925">RBI credit policy: Monetary policy committee keeps repo rate unchanged for 6th time</a> Gautam Adani on anniversary of Hindenburg report 
A year after a damning report by a US short seller ripped through his apples-to-airport conglomerate, billionaire Gautam Adani on Jan 25th said the "trials and tribulations" of the past year have made the Adani group stronger as it continued on growth path, improving asset base and launching key projects, including the Dharavi redevelopment.
In a column in a leading newspaper, he said the Adani group raised Rs 40,000 crore of equity -- equal to debt repayment for the next two years -- through stake sales in some firms, repaid Rs 17,500 crore of margin-linked financing, and trimmed debt.
Sustained focus on operations yielded the highest-ever quarterly profit in the second quarter of current fiscal, he said.
Most of the listed group companies have recouped losses induced by the Hindenburg report.
Also Read: <a href="https://www.editorji.com/business-news/psu-shares-are-giving-good-returns-now-pm-narendra-modi-1707312077342">PSU shares are giving good returns now: PM Narendra Modi</a>

On January 6, Mukesh Ambani of Reliance Industries surpassed Adani, securing his position as the wealthiest Indian, which he has maintained since then

Adani slips to second in India's richest ranking after briefly reclaiming the top spot

<h2>On January 6, Mukesh Ambani of Reliance Industries surpassed Adani, securing his position as the wealthiest Indian, which he has maintained since then</h2>

Days after Gautam Adani overtakes Reliance Industries&rsquo; Mukesh Ambani as India's richest man, Ambani overtook him to become the richest Indian on January 6 and has continued to hold onto his position.
On Jan 5th, while Adani saw his worth climb into the top 12 on the world rankings, Ambani was just one rung below at 13. This followed a Supreme Court decision allowing SEBI to continue investigations into allegations against Adani's companies, initially leading to a market misunderstanding that prompted a rally in stock prices and a temporary surge in Adani's net worth.
However, as it became clear that investigations were ongoing, stock values declined, indicating that the wealth increase was short-lived.&nbsp;
Also read/watch -<a title="Budget 2024: Tax rebate likely to be hiked to Rs 7.5 lakh under new income tax regime" href="https://www.editorji.com/business-news/budget/budget-2024-tax-rebate-likely-to-be-hiked-to-rs-7-5-lakh-under-new-income-tax-regime-1704698804317"> Budget 2024: Tax rebate likely to be hiked to Rs 7.5 lakh under new income tax regime</a>
Both have moved up spots since last year. But now Ambani now holds the 12th position while Adani is on 14th spot.&nbsp;&nbsp;
Earlier in December 2023, the billionaire had climbed to the 15th spot, reaching within close distance of Ambani who was then at 14.
Ambani&rsquo;s gain Adani&rsquo;s fall resulted in Mukesh Ambani rising as the richest Indian for 11 months. Even though he got pushed to the second position on January 5 the difference between the wealth of Ambani and Adani was just $0.6 billion on that day. As of January 8, Ambani owned wealth worth $97.5 billion, while Adani&rsquo;s wealth was $94.5 billion.
Between January 5, 2023 and January 5, 2024, according to Bloomberg, Ambani&rsquo;s wealth grew by 12 per cent. While last year, Ambani was also a member of the top 10 richest people in the world list, he was pushed to the 12th position in February 2023. He hasn&rsquo;t manage to be a part of the top 10 club since then. This was mainly due to the rise in the wealth of a few other billionaires, including Mark Zuckerburg, Larry Page and Carlos Slim.&nbsp;

Adani's wealth has soared, placing him in the top 12 on the global rankings, while Ambani follows closely at the 13th position. Both have ascended in rankings compared to last year

Gautam Adani regains throne, trumps Mukesh Ambani in the race for India's richest

<h2>Adani's wealth has soared, placing him in the top 12 on the global rankings, while Ambani follows closely at the 13th position. Both have ascended in rankings compared to last year</h2>

Gautam Adani, the Chairperson of Adani Group, has surpassed Mukesh Ambani, the Chairman of Reliance Industries, on the Bloomberg Billionaire's Index (BBI), claiming the title of India's and Asia's wealthiest person.
Adani now holds the 12th position globally, with Ambani closely trailing at 13th. Both have ascended in rankings since last December, when they held the 15th and 14th positions, respectively.
Adani's current net worth stands at $97.6 billion, making him the richest Indian and Asian on the BBI. He gained $7.67 billion from the previous ranking and accumulated $13.3 billion year-to-date (YTD). Notably, Adani faced a significant decline in his net worth earlier due to allegations made by Hindenburg Research in January 2023.
Hindenburg Research, a New York-based firm, accused the Adani Group of stock manipulation and accounting irregularities, which were refuted by the Adani Group. Consequently, stock prices of Adani Group companies plummeted, causing Adani's fortune to decrease by almost 60 percent, amounting to a loss of up to $69 billion.
The Adani Group, headquartered in Ahmedabad, is a major infrastructure conglomerate in India. It holds the nation's largest private port and plays a significant role in global coal trading. Adani Enterprises, the flagship company, reported revenues of $17 billion for the fiscal year ending on March 31, 2023.
Adani's wealth primarily originates from his ownership in six publicly traded companies affiliated with the Adani Group, which he founded. These include Adani Enterprises (73 percent), Adani Green Energy (56 percent), Adani Ports (66 percent), Adani Power (70 percent), Adani Transmission (68 percent), Adani Energy Solutions (73 percent), and Adani Total Gas (37 percent).
Among other Indians listed in the BBI Top 50 are Shapoor Mistry at the 38th spot with $34.6 billion and Shiv Nadar at the 45th spot with $33 billion.

Between November 29 and December 13, Adani's wealth surged from $66.7 billion to $85.3 billion, a staggering increase of $18.8 billion

India’s richest race: Gautam Adani inches closer to Mukesh Ambani

Between November 29 and December 13, Adani's wealth surged from $66.7 billion to $85.3 billion, a staggering increase of $18.8 billion

Gautam Adani, who recently lost his title as India&rsquo;s wealthiest person, is swiftly making a comeback in the race to reclaim the top spot. All thanks to a surge in his stocks, he has remarkably added $18.8 billion to his wealth in just the past two weeks, narrowing the gap with Mukesh Ambani, whose current fortune stands at $92.3 billion.
Adani's personal wealth is closely tied to the performance of his nine publicly listed companies. Following setbacks related to the Hindenburg saga, his wealth took a hit. However, with most of those issues subsiding, his fortune is steadily approaching that of the Reliance Industries chief.
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Presently, Gautam Adani's total wealth sits at $85.3 billion, as per the Bloomberg Billionaires Index. Both Indian tycoons are in close pursuit of each other not just within India but also globally, with Ambani holding the 13th rank and Adani trailing closely at 14th among the richest individuals worldwide.
Remarkable Progress in a Short Span: Adani recently re-entered the elite Bloomberg top 20 billionaire list and is swiftly climbing the ranks. Starting at the 19th position on November 29, he ascended to the 14th spot by December 13, marking a significant rise within a mere two weeks.
The Indian stock markets have been riding a bullish trend, bolstered by several positive developments such as the ruling national party BJP securing victories in three states and the central bank revising its FY24 GDP growth rate projection to 7%. Adani group stocks emerged as top gainers during this period, contributing substantially to Adani&rsquo;s soaring wealth.
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An Impressive Surge: Between November 29 and December 13, Adani's wealth surged from $66.7 billion to $85.3 billion, a staggering increase of $18.8 billion. Meanwhile, Ambani's wealth rose from $89.5 billion to $92.3 billion, an increase of $2.8 billion during the same period.
The Impact of the Hindenburg Controversy: Once ranked as the world&rsquo;s third richest person, Adani's current wealth is significantly below its peak before the US research firm Hindenburg accused his group of stock manipulation and accounting fraud. He faced a substantial decline, losing over 60% of his wealth by the end of March following the report's release in late January.
Recent Developments Aiding the Resurgence: Besides the broader market upswing, Adani Group stocks witnessed a rally due to other favorable developments related to the conglomerate. The Supreme Court's dismissal of the credibility of the Hindenburg and OCCRP reports, along with the US-agency DFC labeling Hindenburg Research's allegations as 'irrelevant,' further bolstered the resurgence of Adani&rsquo;s group stocks.

Re enters the top 20 billionaires club as all ten listed companies under the Adani Group surged following the Supreme Court's dismissal of the Hindenburg and OCCRP reports as not "credible"

Gautam Adani returns to top 20 rich list amid stock surge

Re enters the top 20 billionaires club as all ten listed companies under the Adani Group surged following the Supreme Court's dismissal of the Hindenburg and OCCRP reports as not "credible"

Gautam Adani, India&rsquo;s second wealthiest individual, reclaims a spot in the top 20 billionaires globally as all ten listed companies under the Adani Group surged following the Supreme Court's dismissal of the Hindenburg and OCCRP reports as not "credible".
This dismissal, along with the absence of incriminating evidence presented by the markets regulator Sebi, saw Adani's wealth soar by $6.5 billion in a single day, propelling him to the 19th position on the Bloomberg Billionaire Index, with a net worth of $66.7 billion.
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This resurgence follows a setback earlier this year when US-based research firm Hindenburg's report accused Gautam Adani's companies of various wrongdoings, leading to a significant decline in their stock value. However, the group's stocks surged by $15 billion in a day, marking the most substantial increase since the report's release, led by Adani Enterprises with a 13% rise. Despite this rally, Gautam Adani's net worth remains down by more than $53.8 billion year-to-date.&nbsp;

Shares of Adani group companies spiked on the back of Gautam Adani's speech slamming the Hindenberg report. 

Adani Group AGM 2023: Gautam Adani calls Hindenburg report 'malicious' again; shares zoom after speech 

Shares of Adani group companies spiked on the back of Gautam Adani's speech slamming the Hindenberg report.&nbsp;

Billionaire Gautam Adani on Tuesday reiterated that the Hindenburg report was a combination of misinformation and discredited allegations.
Speaking at the AGM of his group companies, he said that on the eve of Republic Day this year, US-based short-seller Hindenburg Research published a report to short group stocks just as it was planning to launch the largest Follow-on Public Offering in India's history.
"The report was a combination of targeted misinformation and discredited allegations, the majority of them dating from 2004 to 2015.
"They were all settled by the appropriate authorities at that time. This report was a deliberate and malicious attempt aimed at damaging our reputation and generating profits through a short-term drive-down of our stock prices," he said.
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Subsequently, despite a fully subscribed FPO, the group decided to withdraw and return the money to investors to protect their interests.
"While we promptly issued a comprehensive rebuttal, various vested interests tried to exploit the claims made by the short seller. These entities encouraged and promoted false narratives across various news and social media platforms," he said.
Meanwhile, the Adani group shares have zoomed. Within few minutes of his speech, Adani Enterprises opened upside rising around 4.25% and went on to hit intraday high of ₹2,510 apiece on NSE.&nbsp; Similarly Adani Power bounced back from its intraday low and hit a intraday high of ₹254.45 apiece on NSE. The shares of Adani Green Energy and Adani Transmission also ascended 3% in the intraday trade. By the completion of the speech, all the ten Adani share prices were trading in the green.&nbsp;

The Adani group's stocks got a boost after investor GQG raised its stake in the conglomerate by 10%

Bloomberg Billionaires List 2023: Gautam Adani back among world's top 20 billionaires

The Adani group's stocks got a boost after investor GQG raised its stake in the conglomerate by 10%

Gautam Adani has re-entered the top 20 billionaires list. This, after the spectacular rally of the Adani group's stocks. The net worth increased by $4.38 billion to $64.2 billion. Adani is now ranked 18th in the Bloomberg Billionaires&rsquo; Index.&nbsp;
The Adani group stocks got a boost on Tuesday, after investor GQG raised its stake in the conglomerate by 10%. GQG's Rajiv Jain has also said that the company will take part in future fundraising by the Adani group.
The group faced a massive loss after the U.S. based short-seller Hindenburg released a report on the conglomerate. Last week, the Supreme Court panel released a report that said it is impossible to conclude if there was any regulatory failure on the SEBI's part in the Adani-Hindenburg case.
Though Gautam Adani has found a place in the top 20 billionaires list, he is still behind Reliance's Mukesh Ambani. Ambani continues to be Asia's richest man with 13th rank in Bloomberg Billionaires&rsquo; Index.

Short seller Hindenburg research will soon release a new report on another target. However, the research firm hasn't provided any details on the timing of the release

Another 'big report' coming soon, says Hindenburg Research in a cryptic tweet

U.S based short seller Hindenburg research claims that it will soon release a new report. However, the research firm hasn't provided any details on the timing of the release

Hindenburg research has claimed that a new report on another target will be released soon. The U.S. Short seller took to twitter and said , 'New report soon&mdash;another big one'.&nbsp;
However, the tweet hasn't revealed details about the timing of the report or any other information.&nbsp;
Hindenburg's report on Adani group accused the conglomerate of accounting fraud and stock price manipulation. Post the report, more than $150 billion from the Indian conglomerate&rsquo;s market value was wiped out.&nbsp;
Adani Group had strongly denied all the allegations, saying that they were "nothing but a lie."&nbsp; The Group said the report was driven by "an ulterior motive" to "create a false market" to allow the US firm to make financial gains.
According to the Hurun Global Rich List released just yesterday, Adani lost Rs 3,000 crore of wealth every week in 2022-23 and his overall networth saw a 60% erosion from its peak.&nbsp;

gautam adani

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