Gautam Adani has dropped to number 15 on the list of the world’s richest people as the Adani Group stock riot continues to erode the billionaire’s net worth.
Mukesh Ambani replaces Gautam Adani as Asia’s richest man
A little over a week ago, Adani sat in the third position on the list..
This caused Adani Group’s share price to plummet.Due to the recent decline in Adani’s assets, Reliance Industries Mukesh Ambani replaced him as the richest man in India and Asia.
Gautam Adani is currently number 15 with a net worth of $75.1 billion and Mukesh Ambani is number 9 with a net worth of $83.7 billion, according to Forbes’ real-time billionaire list.
Top 10 richest people in the world
Apart from Mukesh Ambani, the other billionaires in the top 10 richest list are (in order of increasing wealth): -Bernard Arnault, Elon Musk, Jeff Bezos, Larry Ellison, Warren Buffett, Bill Gates, Carlos Slim Helu & family, Larry Page, Sergey Brin.
Also Read: Meet Nathan Anderson, The Man Behind The Hindenburg Report
Hindenburg Report Hurts Adani Group
Hindenberg, based on his research, took a short position at Adani Group enterprise Through US-traded bonds and non-India-traded derivative products. He accused Adani Group of accounting fraud, stock manipulation and money laundering.
Since then (January 24), the Adani Group’s stock has been in deep red on most days, and the group’s chairman has slipped from 3rd to 11th on Forbes’ list of the world’s richest people.
Read more about short selling and the Hindenburg report here.
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