Adani Stocks Soar Taking Gautam Adani To 15th Spot On Bloomberg Index, Gautam Adani's Net Worth Is....

Gautam Adani's wealth has increased massively since last week, thanks to the rally in the share price of Adani group companies. As of today, Gautam Adani has a net worth of $82.5 Billion.

The Indian billionaire's wealth has increased by $12.3 billion from the last list position. With a net worth of $82.5 Billion, Gautam Adani is the world's 15th richest person in the Bloomberg Billionaires Index. One must note that Gautam Adani is just two positions behind Reliance Industries chairman Mukesh Ambani who is the world's thirteenth richest person with a net worth of $91.4 billion according to Bloomberg Billionaires Index.

However, in this year so far, the net worth of Gautam Adani has fallen $38 billion. This year-to-date decline in the billionaire's wealth can be attributed to the contentious Hindenburg Research report published on January 24 this year. The US Shortseller had leveled serious allegations including stock price manipulation against the Gautam Adani-led Indian conglomerate.

The Hindenburg report, resulted in a staggering loss of nearly 60% in Adani's personal fortune, declining by almost $69 billion.

According to BBI, a large chunk of Adani's fortune is derived from stakes in six publicly traded companies that are part of the Adani Group, the Indian conglomerate he founded.

The companies and the stakes include Adani Enterprises (68%); Adani Power (67%); Adani Total Gas (37%); Adani Transmission (68%); Adani Ports (63%); and Adani Green Energy (56%). Each of the companies is publicly traded and based in Ahmedabad, India.

The shares are held by a group of individuals and entities - so-called promoter groups - that ultimately flow up to the Adani family's trust. They are credited to Gautam Adani to reflect his status as founder.

Most of the Adani stocks have rallied for the third consecutive day on Tuesday. Today, the share price of Adani Enterprises was trading at Rs 2912.10 per share. On Tuesday, the stock touched upper Circuit Rs. 2782.20. In the last one week the stock has gained 21.55%.

Adani Total Gas shares were up 19.56% at Rs 1050.00 per share at 2:39 pm IST today. In the last two weeks, the stock has gained 97.40%. Today, the stock touched Upper Circuit Rs. 1053.80. Adani Green Energy shares gained 15% today at Rs 1549.95 per share in the intraday trade. Adani Green touched the Upper Circuit of Rs. 1348.00 on Tuesday.

Meanwhile, on Wednesday, the share price of Adani Energy Solutions, Adani Power, and Adani Ports was up 8.54%, 4.20%, and 1.20% respectively. These three stocks have gained over 20% in the last one week.

The drastic jump in the shares of Adani group firms since the onset of this week has increased the market valuation of the Adani group ultimately leading to a surge in the overall wealth of Gautam Adani.

Massive boost to India's Adani group. US Government clears $553 Million load to Adani

Recently, the U.S.International Development Finance Corporation (DFC), the U.S. Government Government's development finance institution reportedly agreed to lend $553 million to a deep-water container terminal being built by the port's unit of tycoon Gautam Adani at Sri Lanka's Colombo Port.

Now, according to a Bloomberg report quoting a US official, this loan facility was granted after the US government concluded that the Hindenburg allegations against the Gautam Adani-led Indian conglomerate were 'irrelevant'.