As the bloodbath in Adani Group shares continues to erode the billionaire's net worth, Gautam Adani has fallen to 15th on the list of the world's richest people.? ?
Just over a week ago, Adani was sitting in the third position on the list, and then came the Hindenburg report.
This has caused the Adani Group's stock to tremble. The recent drop in Adani's wealth has resulted in?Reliance Industries'?Mukesh Ambani replacing him as India's and Asia's richest person.
As per Forbes' real-time billionaires list, Gautam Adani is currently in the 15th position with $75.1 billion in net worth, whereas Mukesh Ambani is at rank 9 with $83.7 billion in net worth.
Apart from Mukesh Ambani, the other billionaires on the list of the top ten richest are (in order of increasing wealth):?-Bernard Arnault, Elon Musk,Jeff Bezos, Larry Ellison,Warren Buffett, Bill Gates,Carlos Slim Helu & family, Larry Page and Sergey Brin.
Also Read:?Meet Nathan Anderson, The Man Behind?Hindenburg?Report
Hindenburg mentioned that based on its research, it has?taken a short position in Adani Group Companies?through U.S.-traded bonds and non-Indian-traded derivative instruments. It has accused the Adani Group of accounting frauds, stock manipulations, and money laundering.
Since then (January 24), Adani Group's stocks have been heavily in the red on most days, and the group's chairman has fallen from third to eleventh in Forbes' list of the world's wealthiest people.
To know more about short selling and the Hindenburg report,?read here.
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