Gautam Adani Accelerates On Forbes Rich List Adding $48 Billion To His Fortune

Gautam Adani, chairman of the Adani Group, has seen a remarkable surge in his net worth, adding $48 billion to reach a total of $116 billion. This increase marks a 70.5% rise from the previous year, making him one of the top gainers in wealth addition on Forbes India rich list.

Adani’s resurgence follows a significant recovery after the fallout of last year’s short-selling hit by Hindenburg Research. His strategic moves, including appointing family members to key positions within his business, have been pivotal in this turnaround, according to Forbes.

The 2024 Forbes list indicates that the collective wealth of India’s 100 richest individuals has surpassed the trillion-dollar mark for the first time, rising 40% to $1.1 trillion from $799 billion last year. This increase has been fueled by a booming bull market, with India’s benchmark BSE Sensex soaring 30% since the last wealth measurements.

The current market environment has benefitted over 80% of those on the list, with 58 individuals adding $1 billion or more to their net worths.

Among the newcomers to the list are two key players in the pharmaceutical sector: B. Partha Saradhi Reddy, founder of Hetero Labs, who ranks No. 81 with a fortune of $3.95 billion, and Mahima Datla of Biological E, who debuts at No. 100 with $3.3 billion.

The list also welcomes Harish Ahuja, whose apparel company Shahi Exports supplies major brands like H&M and Calvin Klein, ranked No. 84 with $3.8 billion, and Surender Saluja, founder of Premier Energies, at No. 85 with $3.7 billion. Saluja's company was recently listed in September.

The record-breaking growth in wealth reflects the ongoing optimism in India's economic landscape, driven by strong investor interest in IPOs and mutual funds.

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