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Gautam Adani

$84.8B

Gautam Adani serves as the chairman of the Adani Group, a conglomerate with a staggering $32 billion in revenue. The group boasts diverse interests spanning ports, airports, power generation and transmission, as well as green energy, among other sectors.

Established in 1988 as a commodities trading firm, the Adani Group expanded its footprint through strategic acquisitions and support from Indian Prime Minister Narendra Modi. Adani is renowned as India's largest airport operator and also oversees Mundra Port, the country's largest, located in his home state of Gujarat.

In January 2023, U.S. firm Hindenburg Research accused Adani and his companies of financial fraud and stock market manipulation, allegations vehemently denied by the Adani Group. Following a ruling in the group's favor by India's Supreme Court a year later, Adani Group's shares rebounded significantly after plummeting post the Hindenburg report.

Adani Group's growth trajectory was fueled by a series of mergers and acquisitions, expanding its presence in sectors like cement, agribusiness, and data tech, particularly during the early 2020s. As a major shareholder, Adani's net worth surged from approximately $10 billion to a staggering $125 billion by the end of 2022. Moreover, in late 2022, Adani secured a controlling share of New Delhi Television Ltd. (NDTV), a prominent news media company in India. However, the Hindenburg report in January 2023 precipitated a massive sell-off in Adani Group's investments, causing a temporary loss of over $50 billion in stock market value, before eventually rebounding.