Indian billionaire Gautam Adani has regained first place in the ranking of the richest people in Asia with a fortune of $97.6 billion. This was reported by UNN with reference to Bloomberg.
Details
After a sharp drop in his wealth ranking last year, Gautam Adani has once again become the richest man in Asia. This happened a few days after the Supreme Court of India ruled to drop all cases and investigations against the tycoon. The day after the court's decision, Adani's wealth increased by $7.7 billion.
Last year, a report by the American company Hindenburg Research pointed to numerous abuses in the tycoon's companies. After the report was published, the shares of Adani's companies collapsed and he lost $45 billion in two days.
In total, Adani Group lost more than $150 billion in market value last year and spent months trying to repay investors, creditors, repay debts and allay regulators' concerns.
Recall
Gautam Adani, 61, started his business in 1980 on the diamond exchanges in Mumbai. Later, he started trading coal and bought shares in seaports. His conglomerate expanded into airports, data centers, media, and green energy.
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Adani promised to invest $100 billion in his energy companies to become a global leader in renewable energy production.