'No truth to this claim': Adani Group refutes report of opening family office overseas

Adani Group on Friday refuted a news report claiming its chairman Gautam Adani is considering setting up a family office overseas to manage his ballooning wealth.

"We are aware of a report from Bloomberg news claiming that Adani Group Chairman Mr Gautam Adani is considering opening a family office in Dubai or New York. There is no truth to this claim. Neither Mr Adani nor the Adani Family has any plan or is in consultations to open a family office overseas. It is extremely unfortunate that this baseless report by Bloomberg has triggered a flood of needless and avoidable speculation in the media," said Adani Group in a statement.

The chairman of the ports-to-power conglomerate is looking at Dubai or New York as the base for the office, which will invest the Adani family’s personal funds, the Bloomberg report said.

Gautam Adani's total net worth stood at $136 billion on November 11, 2022, according to the Bloomberg Billionaires index.

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