2024-01-08 05:15:45
Published on January 8, 2024 at 06:15. / Modified on January 8, 2024 at 06:16.
Planet finance
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Gautam Adani has regained his place as Asia’s richest man. The Indian businessman lost his rank following the publication of a very critical report from Hindenburg Research, in January 2023. The latter, specializing in the denunciation of embezzlement or opaque situations in listed companies, had highlighted highlights numerous dysfunctions and general overvaluation within the Adani conglomerate. But the Indian Supreme Court has just decided that no further investigation was necessary in this case. As a result, Gautam Adani’s fortune jumped by 7.7 billion dollars (6.6 billion francs). In one day.
With just a few weeks left, it took Gautam Adani a year to turn the page. Since the publication of the Hindenburg Research survey, on January 24, 2023, the 61-year-old entrepreneur had constantly refuted the accusations of fraud to which he was the subject. Hindenburg even spoke of “the biggest scam in history” when describing the Adami conglomerate, active in energy, transport, edible oils and the media. After seeing the price of its main entity, Adani Enterprises, soar by 1000% in five years, the group lost up to $150 billion in market capitalization in the wake of these accusations last year, recalls the Bloomberg agency.
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