Billionaire and Adani Group chairman Gautam Adani’s net worth slipped below the $50 billion mark on Monday
With this drop in net worth, Adani now ranks on the 25th spot on the Bloomberg Billionaires’ Index and his net worth stands at $49.1 billion
Reliance Industries Limited chairman Mukesh Ambani has a net worth of $83.6 billion against Gautam Adani’s $49.6 billion, as per Bloomberg Billionaires’ Index. While Adani ranks 25th, Mukesh Ambani is currently on the 11th spot
US-based short seller Hindenburg Research accused the Adani Group of accounting fraud and stock manipulation in a report
The Gautam Adani-led conglomerate denied all allegations terming the Hindenburg report as a “calculated attack on India” and said the short seller copy-pasted information from company filings
Adani Group shares– Adani Enterprises, Adani Green Energy, Adani Transmission, and Adani Total Gas– need a rally of around 410 per cent to regain their 52-week highs
In the three weeks since the US-based short seller Hindenburg Research released its report, the ports-to-power conglomerate Adani Group has lost nearly $125 billion in market cap
Billionaire investor George Soros said, “This will significantly weaken Modi’s stranglehold on India’s federal government and open the door to push for much-needed institutional reforms”. I may be naive, but I expect a democratic revival in India," said George Soros