Global Rich List Ranking: Gautam Adani Slips To 7th Position After Hindenburg Report On Adani Group Shares
January 2023: After the issue of the report, Gautam Adani’s net worth has decreased by almost 20% and his net worth has decreased by $22 billion. Gautam Adani’s current net worth is below $ 93 billion due to a sharp fall in Adani Group’s shares.
Indian billionaire, Gautam Adani, who was the third richest person globally earlier this week, has slipped to the seventh position in the global rich list. Following the Hindenburg report in respect of Adani Group of Companies.
Gautam Adani is now below Larry Ellison, Warren Buffett, Bill Gates, Jeff Bezos, Elon Musk and Bernard Arnold.
Bernard Arnault of LVMH topped the ranking with a net worth of around $190 billion. Elon Musk’s net worth soared as Tesla shares saw a sharp recovery, up 11% on Friday and a strong 30%+ over the past week.
Amazon shares also rose 3% on Friday, adding to owner Jeff Bezos‘ net worth. Despite the slide, Gautam Adani continues to be the only Indian and Asian in the top 10 list and Mukesh Ambani is at number 13 with a net worth of $81 billion.
After the issue of the report, Gautam Adani’s net worth has decreased by almost 20% and his net worth has decreased by $22 billion. Gautam Adani’s current net worth is below $ 93 billion due to a sharp fall in Adani Group’s shares.
Group companies Adani Transmission, Adani Green Energy and NDTV Ltd are down more than 50% from their 52-week highs.
Other Adani Group companies that have fallen 40 to 50% from their 52-week high include Adani Power, Adani Wilmar and Adani Ports.
Newly acquired ACC and Ambuja are also down more than 30% from their highs while Adani Total Gas is down 27% from its 52-week high.
However, a major part of the fall was due to the Hindenburg Research report, which saw a sharp decline in all Adani stocks on Friday.
Volume jumps were also seen in shares. Adani Ports and Adani Enterprise were the top losers on Nifty 50 on Friday.
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