Home CATEGORIES Business Ethics & Philanthropy Gautam Adani becomes richest Indian, to back Chess prodigy Praggnanandhaa

Gautam Adani becomes richest Indian, to back Chess prodigy Praggnanandhaa

Adani Group Chairman Gautam Adani with India's chess prodigy Rameshbabu Praggnanandhaa
Adani Group chairman Gautam Adani on Friday once again climbed to the position of India’s richest person as per the The Bloomberg Billionaires Index, which is a daily ranking of the world’s richest people. He is also Asia’s wealthiest person now. This comes just a day after the Supreme Court ruled in favour of the Adani group while hearing petitions in the Adani-Hindenburg case.
Taking to social media on the same day, the Adani Group chairman announced that he will be backing India’s Chess prodigy Rameshbabu Praggnanandhaa.
In terms of gaining and losing wealth, the last one year has been quite eventful for Indian Billionaire Gautam Adani. In January 2023, U.S.-based investment research firm Hindenburg Research published a report alleging the Adani Group and its chairman industrialist Gautam Adani of corporate and financial fraud. As a consequence of this, the company lost over $150 billion in market value. Adani lost over 34 percent of his net worth soon after Hindenburg research released its report accusing his conglomerate.

Adani versus Ambani

Gautam Adani has also left behind Reliance Industries chairman Mukesh Ambani as the richest person in India and Asia. As per the Bloomberg Billionaires Index published on 5th January 2024, Gautam Adani ranks 12th while Mukesh Ambani follows closely at rank 13.  Adani’s total net worth is $97.6 billion, while that of Ambani is $97 billion.

Indian personalities on the Bloomberg Billionaires Index

Other Indians featuring on The Bloomberg Billionaires Index top 100 include names like Shapoor Mistry from the Shapoorji Pallonji Group at 38, HCL Technologies Founder and Chairman Emeritus Shiv Nadar at 45, Wipro Chairman Azim Premji at 64, Jindal Group Chairperson Emeritus and India’s richest woman Savitri Jindal at 67, Sun Pharma Founder Dilip Shanghvi at 81 and Indian Steel Magnate Lakshmi Mittal at 90.

Supreme Court’s verdict

On 3rd January 2024, the Supreme Court of India rejected demands made by petitioners for an SIT probe into allegations raised by Hindenburg Research against Adani Group and in its verdict expressed faith in the ongoing investigation by SEBI.
After the apex court ruled in favour of the Adani Group on January 3, Gautam Adani posted on microbloggin platform X, “The Hon’ble Supreme Court’s judgement shows that: Truth has prevailed. Satyameva Jayate. I am grateful to those who stood by us. Our humble contribution to India’s growth story will continue. Jai Hind.”

Support to Indian chess grandmaster Praggnanandhaa

Shortly after making headlines on resuming his position as the richest Indian, Gautam Adani announced that he will be backing India’s chess prodigy Rameshbabu Praggnanandhaa. Taking to X (formerly Twitter) on Friday, Gautam Adani shared a photograph clicked with Indian chess grandmaster Praggnanandhaa where the two can be seen shaking hands. Expressing his faith in the youngster’s capabilities in taking the nation forward, the billionaire industrialist announced his support for the teenager calling him an “inspiration to young Indians”.
Adani wrote, “It’s a privilege to support Praggnanandhaa as he continues to win laurels in the world of chess and make India proud. His success is an inspiration to countless young Indians to believe that nothing is more gratifying than standing on the podium to celebrate our nation’s greatness. Praggnanandhaa represents what India can and will be all about. I wish him all the very best. Jai Hind.”