The Adani Group has been accused of paying ₹2,000 crore in bribes to secure contracts in India, leading to U.S. charges. The allegations have caused political backlash, significant stock losses, and concerns over banking exposure.

According to the Hurun India report, in the previous year, India witnessed the emergence of a new billionaire every five days

A person familiar with the matter said the Adani Group plans to bring the deal back to the market after November’s US election.

Mukesh Ambani takes the top spot with a net worth of $119.5 billion; Gautam Adani and his family, who come next, are worth an estimated $116 billion.

Sebi faces scrutiny as chairperson Buch encounters conflict of interest allegations. Tensions within Sebi have escalated following Hindenburg Research's allegations and Congress party's accusations against her.

Citing a report from a Swiss media outlet, Hindenburg claimed that Swiss authorities had frozen over $310 million across multiple Swiss bank accounts as part of an investigation into the Adani Group.

Ambani is the second richest; Hurun India Rich List 2024 has 324 billionaires

In an interview to Bloomberg, the 62-year-old Gautam Adani, Chairman of Adani Group outlined plans for his succession at the multi-billion empire. In the interview published on August 5, he said he will cede control to his sons and their cousins.

Gautam Adani, India's second richest person after Mukesh Ambani, received ₹9.26 crore in the 2023-24 financial year. This was lower than most of his industry peers and top executives of his companies.