Gautam Adani replaces Mukesh Ambani as the richest Indian on Hurun list

Gautam Adani and his family have secured the top spot in the 2024 Hurun India Rich List, with a wealth of Rs 11.6 lakh crore, surpassing Mukesh Ambani. In 2020, Mr Adani was fourth on the list. Mr Adani's wealth has surged by 95 per cent in the last one year. His rise is marked by recovery following the Hindenburg report, which had raised significant scrutiny.

"Rising like a phoenix after the Hindenburg allegations, Gautam Adani (62) & family have secured the top spot in this year's rankings, with a 95% increase in wealth compared to last year, bringing their total to INR 1,161,800 Cr. As a self-made entrepreneur, Adani has recorded the highest wealth growth within the top 10 over the past five years, adding INR 1,021,600 Cr, despite the challenges following the report," the Hurun Rich List says.

"All Adani Group companies saw a significant surge in share prices over the past year. For example, Adani Ports experienced a 98% increase, driven by improved utilization levels and the proposed acquisition of new ports and container terminals. Meanwhile, the energy-focused companies-Adani Energy, Adani Gas, Adani Transmission, and Adani Power-averaged a 76% growth in share price.