New Delhi: Reliance Industries Chairman Mukesh Ambani has surpassed Adani Group Chairman Gautam Adani to become the wealthiest Indian in the world with a net worth of $84.3 billion, according to Forbes Real-time billionaire list for 2023, Gautam Adani lost ground to Mukesh Ambani after Forbes reported that the chairman of Reliance Industries saw a 0.19 percent growth in assets and a $64 million boost in wealth, compared to a 4.62 percent decline in assets for the entrepreneur.

These numbers, however, are continually changing. Adani's personal fortune is anticipated to increase along with a gain in his stock. This follows a study by US short-seller Hindenburg Research on the Adani Group that alleged "brazen accounting fraud, stock manipulation, and money laundering" as part of a decades-long Ponzi operation.

Given their lofty values, the Hindenburg Research research expressed concern that shares of Adani group companies would drop from their current levels.

Although Hindenburg Research's study claimed that businesses owned by Gautam Adani were engaging in market manipulation and accounting fraud, The Adani Group stated that it was considering legal action against Hindenburg Research in both the US and India. The Adani Group has addressed all 88 of Hindenburg Research's queries, including the inexperience of its auditors, in a concise and targeted response to the report on its operations.

However, the major market indices opened higher as investors' confidence was strengthened by hopes for the Union Budget.

The group's flagship company, Adani Enterprises, saw a 3.02 percent decline in share price on the BSE, dropping to Rs 2,880.20 per share.

The shares fell 15% during the course of five days. Adani Green dropped 3.82 percent to Rs 1,177.15 per share, and in only five days, the shares had dropped about 38 percent.

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