Topline
Gautam Adani’s fortune increased by roughly $2.5 billion on Friday as shares rallied across his Adani Group subsidiaries, making him the richest person in Asia ahead of Mukesh Ambani, who briefly held the title.
Adani’s fortune steadily declined following since-dismissed allegations of fraud brought by the U.S.
AFP via Getty Images
Key Facts
Adani’s net worth swelled to $89.2 billion, ranking him ahead of Ambani ($88 billion) and SoftBank’s Masayoshi Son ($87 billion), who held the title of Asia’s richest before shares of the Japanese investment firm plunged on Thursday, according to Forbes’ Real-Time Billionaires list.
A boost to Adani’s net worth followed a broader stock surge across companies under the umbrella of his Adani Group, including Adani Power (up 1.1%), Adani Ports (1.9%), Adani Enterprises (2.3%), Adani Green Energy (6.9%) and Adani Energy Solutions (3.8%).
His fortune has increased by nearly $10 billion since the Justice Department dismissed fraud charges against the Adani Group last month, following allegations the conglomerate participated in a $250 million bribery scheme over solar energy supply contracts (Adani and his co-executives denied the claims).
big number
About $191 billion. That’s the combined market value across six Adani Group companies as of Friday, headlined by Adani Power at $47.2 billion, followed by Adani Ports ($44.2 billion), Adani Enterprises ($44 billion), Adani Green Energy ($26.4 billion), Adani Energy Solutions ($19.9 billion) and Adani Total Gas ($8.8 billion).
key background
Adani’s return as the wealthiest person in Asia follows a yearslong downturn across his companies amid various allegations. The U.S. short-seller Hindenburg Research accused Adani of stock manipulation and widespread fraud in what they called the “largest con in corporate history” in 2023, though those claims were dismissed by Indian regulators last year, who said the allegations were “not established.” Adani was indicted in November 2024 on allegations of participating in a $250 million bribery scheme, in which he and other Adani Group executives allegedly bribed Indian government officials for solar energy supply contracts. They then obtained funding for those contracts after concealing the scheme from U.S. and international investors, according to the DOJ’s indictment. The Indian billionaire reportedly spent months earlier this year campaigning to have his indictment tossed, after Adani employed lobbyists and lawyers in the U.S. to push for his interests in having the charges dropped. They also reportedly solicited advice from Indian government officials on how to deal with President Donald Trump and engaged in a series of meetings with the Trump administration.