After a roller-coaster ride on the wealth rankings last year, Gautam Adani is back to being Asia’s wealthiest person days after India’s top court said no new probes were needed into Hindenburg Research’s bombshell allegations against the tycoon’s conglomerate.
Mr Adani’s net worth rose by $7.7 billion in a day to $97.6 billion, reclaiming the top spot in the region from Indian compatriot Mukesh Ambani, according to the Bloomberg Billionaires Index.
Mr Ambani, chairman of Reliance Industries, was trailing by a narrow margin with a net worth of $97 billion, the index shows.
The comeback of the first-generation entrepreneur, who started off as a diamond trader in the 1980s, caps an eventful year for Mr Adani’s ports-to-power conglomerate.
Despite denying Hindenburg’s allegations of corporate fraud, the Adani Group lost more than $150 billion in market value at one point last year and spent months wooing back investors, lenders, repaying debt and assuaging regulatory concerns.
Adani Group’s stocks rallied after the Supreme Court of India this week ordered the local markets regulator to conclude its investigation into the conglomerate within three months and said no more probes were needed, effectively drawing a line under the year-long saga on short-selling.
The court reprieve stoked a $13.3 billion wealth gain for Mr Adani – the world’s largest this year – after he registered one of the biggest wealth losses in 2023.
Mr Adani, whose conglomerate has committed an investment of $100 billion over the next decade for green transition across its businesses, is also back to rapidly diversifying his empire beyond its coal-trading origins into data centres, artificial intelligence, urban development, airports and media.
Top 10 richest people in the world in 2023 – in pictures
From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
Zombieland: Double Tap
Director: Ruben Fleischer
Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone
Four out of five stars
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SHOW COURTS ORDER OF PLAY
Wimbledon order of play on Tuesday, July 11
All times UAE ( 4 GMT)
Centre Court
Adrian Mannarino v Novak Djokovic (2)
Venus Williams (10) v Jelena Ostapenko (13)
Johanna Konta (6) v Simona Halep (2)
Court 1
Garbine Muguruza (14) v
Svetlana Kuznetsova (7)
Magdalena Rybarikova v Coco Vandeweghe (24)
More coverage from the Future Forum
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
