Where Does The Adani Family Spend Its Money? Now It Will Come To Light.

Industrialist Gautam Adani

The net worth of Asia’s second richest person, Gautam Adani and his family, has surpassed $105 billion today. How does he manage his wealth? Where do he invest it? There is very little information publicly available at the moment. In such a situation, now the Gautam Adani family has made a big decision, thanks to which information about the management of their property will be revealed to the world.

When the American short-selling firm Hindenburg Research released its report against Adani Group last year, apart from highlighting the company’s massive debt problem, the biggest question it raised was about the auditing system of Adani Group. Recently, the Adani Group has again come under the target of Hindenburg Research. This time, Hindenburg Research alleges that market regulator SEBI was lenient in investigating the Adani Group because the interests of its director were linked to the Adani Group itself.

The Adani family can do this great job.

Learning the lesson from these incidents, the Adani family has taken a big decision regarding the management of its wealth. Citing sources, ET has reported that Gautam Adani is now planning to get his family office audited by one of the world’s six largest accounting firms. Adani Family Office is currently in talks with two firms.

read this too

Not only this, the Adani family has also made preparations to ensure 100% compliance with regulatory disclosure norms. Gautam Adani plans to appoint an independent CEO for his family office. Top global companies in the world also follow this principle.

The addition of the CEO and the auditing firm to the Adani Group family office means that there will be greater transparency regarding the family’s assets and their management. Hindenburg Research’s first report also raised objections that there was no clear information on how the Adani family operates its listed group companies.

This is how the CEO system will work

According to the report, five people including the CEO and the chief investment officer will be appointed in the Adani Family Office and the process is underway. These officers will report to Jugshinder Singh, Chief Financial Officer of Adani Group and Gautam Adani himself. Currently, the Adani Family Group runs two wealth offices with the help of CFOs. However, no official statement has been given by the Adani family or group on this news.