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Gautam Adani net worth: Gautam Adani’s worries are mounting after the American research firm’s Hindenburg report. Where in a way today on Friday Adani Group shares are down as much as 20%. On the other hand, major impact on Adani’s net worth has been seen: according to Forbes Billionaires Index, Adani’s net worth has dropped by more than 17.38% in the last 24 hours. That means there was a loss of about $20 billion (1 lakh 60,000 rupees) in a single day. Gautam Adani’s net worth has dropped to $98.5 billion. Adani has thus slipped from fourth to seventh place in the list of billionaires. Let us tell you that Adani’s fortune has fallen below $100 billion after a long time.
According to Forbes Real Time Billionaires Index, Gautam Adani is now ranked 7th in the list of billionaires worldwide. Ahead of Adani is Bill Gates at number 6, Warren Buffett at number 5, and Larry Ellison at number four. In that list, Amazon founder Jeff Bezos is third, Tesla CEO Elon Musk is second, and Bernard Arnault is first.
What is report?
A 32,000-word report by American short seller Hindenburg Research has accused the Adani group of “the largest fraud in the corporate world.” The report accuses the Adani Group of stock manipulation and accounting fraud. However, the Adani Group has called these allegations unfounded and has said it is considering legal action.
Research company challenged
In a statement released from his official Twitter account, Hindenburg said the research firm will request the documents if the Adani Group files a lawsuit challenging the report in US court. If the Adani Group is serious, they should also file a lawsuit in the US, where we operate. We have a long list of documents in the Legal Discovery process.
SEBI increased surveillance of Adanis shares
Meanwhile, there is news that market regulator SEBI has intensified its investigation into Adani Group’s businesses over the last year. According to the source, SEBI will now study the report released by Hindenburg Research and may conduct a preliminary investigation. Let us tell you that today on Friday there is a big drop in all Adani Group shares. Shares of seven publicly traded companies including Adani Enterprises, Adani Ports, Adani Wilmar, Adani Green Energy, Adani Total, Adani Transmission and Adani Power are seeing sharp declines of up to 20%. Earlier Wednesday, when the Hindenburg report came out, there was a huge drop in stocks. The total market capitalization of Adani group companies has fallen by around Rs 4 lakh crore over the past two trading days.
