Hindenburg Effect: Gautam Adani is now out of top-20 richest person list

After the publication of the Hindenburg report by the American research firm Hindenburg, the tsunami that hit the Adani Group company’s shares has shaken Gautam Adani’s empire. Every passing day is bringing a big drop in his net worth. According to the latest data, Gautam Adani is now out of the list of 20 richest people in the world.

Gautam Adani was at number 16 in the list of the world’s rich on Thursday with $ 64.7 billion and in just 24 hours he has slipped five places to number 21. The year 2023 is proving to be very bad for Adani, who made his mark as the highest earning person in the year 2022. Talking about the loss, according to Bloomberg data, since the beginning of this year, his wealth has been cleared of $ 59.2 billion. In the last 10 days only, he has lost 52 billion dollars.

Gautam Adani Net Worth

Due to the fall in the stocks of Gautam Adani’s companies in the last one week, the total market cap of his companies listed in the stock market has decreased by more than $ 100 billion. Adani Enterprises Ltd fell 21.61% to Rs 1,694.10, Adani Power Ltd fell 4.98% to Rs 202.05, Adani Wilmar Ltd fell 5% to Rs 421.00 at the close of trading in the stock market on Thursday.

While Adani Green Energy Ltd’s stock slipped 10% to Rs 1,039.85, Adani Total Gas Ltd’s shares fell 10% to Rs 1,707.70 and Adani Transmission Ltd’s stock fell 10% to Rs 1,551.15. Apart from this, the shares of Adani Ports also slipped 4.66% to Rs 472.10.

Also read: Big setback for Adani: Swiss Investment Bank Credit Suisse Stops Accepting Bonds Of Adanis Group

Due to the sharp decline in Gautam Adani’s wealth, where he is now out of the list of top 20 billionaires. At the same time, the net worth of Mukesh Ambani, the second Indian billionaire included in the Top-10 Billionaires List and Chairman of Reliance Industries, has also fallen and he has also been out of the list of top-10 rich.

Mukesh Ambani net worth has come down to $80.3 billion due to a single day loss of $695 million in the last 24 hours and with this much wealth, he has reached the 12th position in Bloomberg’s Billionaires report. However, leaving Gautam Adani behind in terms of wealth, Mukesh Ambani is now the richest person in Asia.

With each passing day, the situation of Gautam Adani’s companies is getting worse. Meanwhile, the National Stock Exchange (NSE) of the Stock Market has taken a major decision to place Adani Group’s three companies Adani Enterprises, Adani Ports and Ambuja Cements under Additional Surveillance Measures (ASM). Explain that after the Hindenburg Research report, Gautam Adani, who is facing the biggest loss so far, had to withdraw Adani Enterprises’ Rs 20,000 crore follow-on public offer (FPO) even after it was fully subscribed and returned the money of the investors who invested in it.