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After strong stock gains, Gautam Adani's net worth increases by $8.5 billion: Report

Gautam Adani gained $8.5 billion thanks to Tuesday's significant stock price increases.

According to the Economic Times, which cited Forbes figures, Gautam Adani's net worth increased to $55 billion on Tuesday, moving the billionaire up to the 24th position on the list of the world's richest individuals. This comes after the publishing of the Hindenburg report caused the Adani Group Chairperson to lose money.

Over half of the market value of several listed Adani enterprises was destroyed in the stock market crash that followed the publication of the report.

Since the publication of the Supreme Court panel report, several shares of the Adani companies' stock have recovered, showing significant increases.

Although SEBI's investigation into several claims is still ongoing, the panel noted in its report that it had not discovered any regulatory shortcomings on SEBI's side with regard to stock price manipulation.

The committee also noted that the results of the investigation did not point to any trends in fake stock trading in the Adani group.

In its analysis, Hindenburg Research accused Adani Group of manipulating the stock price and breaking multiple laws.

The Supreme Court gave the markets regulator till August 14 to wrap up its inquiry, therefore SEBI has not yet released its findings in the matter.

Adani stocks have benefited from the panel findings as well as the partners of GQG's faith in the organisation. Recently, the business announced that it has increased its investment in the company to $3.5 billion.

Following the Hindenburg report, Gautam Adani dropped off of the top 25 richest people list, where he had previously been placed second, but he is currently making a return since his net worth is increasing.

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