Billionaire Gautam Adani re-enters the top 20 richest club

Billionaire Gautam Adani has re-entered the list of the world's top 20 richest individuals, following a surge in Adani Group stocks during the previous trading session.

This comes after all ten listed companies of the Adani Group rallied on Tuesday, after the Supreme Court said that the Hindenburg and OCCRP reports could not be treated as “credible”.

He is the second richest man in Asia after Mukesh Ambani of Reliance Industries. Adani is second only to Tesla's Elon Musk in terms of earnings on Tuesday.

Adani stocks gained as the Supreme Court reserved its order in the Adani-Hindenburg case. The court observed the markets regulator Sebi should complete its probe into all 24 cases, while noting that the apex court can't doubt Sebi's probe into the Adani case by relying merely on media reports.

The Adani group commanded a total market capitalisation of Rs 11,31,096 crore on November 28 against 10,27,114.67 crore on Friday, up 1.04 lakh crore. The group m-cap is still down 41 per cent over Rs 19.19 lakh crore on January 24.

The Adani group had earlier suggested said the allegations made by Hindenburg in its January report were all settled by appropriate authorities at that time, claiming that the allegations were a "deliberate and malicious attempt aimed at damaging the reputation of the Adani group and generating short-term profit by driving down Adani group stocks."

Adani is now the second Indian in the list, after Mukesh Ambani, who is at the 13th spot with a net worth of $89.5 billion.

Amazon founder Jeff Bezos is second on the list with a net worth of $171 billion. With a fortune of $167 billion, French businessman Bernard Arnault is third in the list of the richest people in the world.

In the list of the richest people in the world, Microsoft founder Bill Gates ($134 billion) is fourth, Steve Ballmer ($132 billion) is fifth, Larry Ellison ($131 billion) is sixth, Larry Page ($124 billion) is seventh, Mark Zuckerberg ($123 billion) is eighth.