Gautam Adani, the owner of Adani Group, has lost his position in the elite club of the world’s 10 richest billionaires after the release of the Hindenburg Research report
Gautam Adani slipped to the 11th position in the world’s richest billionaires list days after the release of the Hindenburg report claiming stock manipulation and accounting fraud by the Adani Group
Gautam Adani’s net wealth is at $84.4 billion, as per Bloomberg Billionaires Index on January 31. From being the world's third-richest person until last week, Adani fell to the seventh spot a day after the release of the Hindenburg report on January 25 and continues to witness a decline in his net worth
Gautam Adani has lost personal wealth worth $34 billion in just three trading days. Adani Group shares have plummeted in a three-day selloff erasing $68 billion of market value
Gautam Adani, who had been the biggest wealth gainer in 2022 with an annual gain of $40 billion, seems to have lost most of his gains from 2022 in terms of personal wealth as he witnessed the biggest wealth wipeout among 500 richest men and women
In spite of this, Gautam Adani continues to be the richest Indian while Reliance Industries Limited Chairman Mukesh Ambani takes the second spot with a net worth of $81.3 billion
Gautam Adani, who was briefly the world’s second richest person after Elon Musk in 2022, is now behind ten other billionaires including Bill Gates, Jeff Bezos, Google founders Larry Page and Sergey Brin
Earlier in an exclusive interview with Business Today, Adani Group Chief Financial Officer (CFO) Jugeshinder Singh had said that Hindenburg Research misrepresented the port-to-power conglomerate. Adani Group has accused the short-selling investment research firm of calculated securities fraud