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Hindenburg effect: For first time in years, Gautam Adani


On Monday, the net worth of billionaire Gautam Adani slipped to less than $50 billion for the first time in several years, with the real-time billionaires lists of both Forbes and Bloomberg ranking him as the twenty-fifth wealthiest person in the world, with a fortune of $48 billion (down $2.7 billion since yesterday) and $49.1 billion (down $1.15 billion) respectively.

Also Read: Adani maps comeback strategy after $132 billion Hindenburg rout

The Forbes Real-Time Billionaire List and Bloomberg Billionaires Index are daily rankings of the wealthiest people in world.

Also Read: Why ESG markets’ investors are concerned over Adani Group financing

On the Forbes list, the founder-chairman of the Adani Group conglomerate is behind fellow Asian, China’s Zhang Yiming ($49.5 billion), and the United States’ Phil Knight and Family ($47.4 billion).

As of Feb 20, 2023, Adani's net worth stands at $48 billion, according to Forbes. As of Feb 20, 2023, Adani’s net worth stands at $48 billion, according to Forbes. The Bloomberg Index, on the other hand, ranked him between the United States’ Michael Dell ($49.2 billion) and France’s Alain Wertheimer ($49 billion).

As of Feb 20, 2023, Adani's total wealth stands at $49.1 billion, as per Bloomberg. As of Feb 20, 2023, Adani’s total wealth stands at $49.1 billion, as per Bloomberg. The massive drop in Adani’s total wealth is largely due to a report published by Hindenburg Research, in which the American short-seller has accused the businessman and his conglomerate of carrying out the ‘largest con in corporate history.’ The 60-year-old and his group have denied the allegations.

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This, however, has failed to stop Adani’s fall in the list of the world’s wealthiest people. The third-richest person at the start of the year, and with the highest net worth among Asians, he is now only the fourth-richest in the continent, behind compatriot Mukesh Ambani, and the Chinese duo of Zhong Shanshan and Zhang Yiming, respectively (as per both Forbes and Bloomberg).

Also Read: Adani crisis to spark democratic revival in India, says George Soros

France’s Bernard Arnault, meanwhile, remains on top, followed by Twitter boss Elon Musk.

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