Gautam Adani: Gautam Adani suffered a double blow, slipped in the list of world’s top-10 rich

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Gautam Adani: Gautam Adani has lost billions of dollars in the last few days, as well as his position as the third richest person in the world. Shares of seven out of nine Adani group companies plunged in trade on Monday, extending Friday’s decline. US-based forensic research firm Hindenburg Research on Wednesday released a scathing report detailing the stock manipulation and accounting fraud committed by the Adani group. After the release of this report, the shares of the group have badly affected the stock markets.

All stocks except Adani Enterprises are in red

Barring Adani Enterprises, which rose over 9% to Rs 3,037 on Monday, shares of all other Adani group companies were trading in the red. Shares of Adani Transmission fell over 15% to Rs 1,648 on the BSE, Adani Green Energy fell 16%, Adani Total Gas was down 19%. Shares of Adani Wilmar and Adani Power hit the lower circuit with a fall of 5% each.

Billions of dollars wiped out from Gautam Adani’s net worth

As a result of the sell-off, billions of dollars were wiped out from Gautam Adani’s net worth. The billionaire’s cumulative wealth fell $6 billion on Wednesday and declined by $20.8 billion to $92.7 billion on Friday, according to the Bloomberg Billionaires List, which now places Adani at the seventh spot. Prior to the dissemination of the report, Adani claimed a net worth of $121 billion.

Increase in annual income from the year 2019

The growth trajectory of the businessman’s net worth over the years has remained unique. According to Bloomberg, from $9.8 billion in 2019, his wealth is set to grow to $33.8 billion in 2021 and Adani will end 2022 with $116 billion. A major part of Gautam Adani’s wealth is linked to his stake in his listed companies. As of September 2022, Adani owned about 75% of Adani Enterprises, Adani Power and Adani Transmission, according to regulatory filings.

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