Nathan Anderson shuts down of Hindenburg Research which accused Adani Group of 'largest con in corporate history'

One of the most impactful short-seller firms of recent times is shutting down. Nate Anderson, the founder of Hindenburg Research, announced that his short-selling firm is winding down its operations.

In a blog posted on Hindenburg Research's website, Anderson noted that the plan was to wind up after finishing the pipeline of ideas the firm was working on, and it was now.

CREDIT: AP

Hindenburg Research's journey

Anderson, who started Hindenburg Research in 2017, is best known for exposing Trevor Milton and his Nikola Motors, which claimed to have developed a fully functional hydrogen-powered truck. Hindenburg has also exposed American activist investor Carl Icahn and Twitter founder Jack Dorsey.

Allegations against Adani Group

But in India, he is best known for a report published in January 2023, accusing Adani Group and its founder Gautam Adani of pulling off the largest con in corporate history.

CREDIT: Hindenburg Research

The report resulted in billions of dollars in losses for the Adani Group, which denied all the allegations. However, the allegations continued to hurt Adani Group's image globally.

Why is Hindenburg Research shutting down

Without giving specific reasons for shutting down Hindenburg Research, Anderson said he has achieved his goals.

¡°So, why disband now? There is not one specific thing¡ªno particular threat, no health issue, and no big personal issue. Someone once told me that at a certain point a successful career becomes a selfish act. Early on, I felt I needed to prove some things to myself. I have now finally found some comfort with myself, probably for the first time in my life,¡± he said.

CREDIT: AP

What is next for Nate Anderson

Anderson also did not provide details on what is next for him but said his focus was on making sure everyone on his team lands where they want to be next.

¡°Some are going to start their own research firm, which I will strongly and publicly encourage, even as I will have no personal involvement," he said.

For more news and current affairs from around the world, please visit Indiatimes News.