Hindenburg effect: For first time in years, Gautam Adani's net worth drops below $50 billion

According to Forbes, the billionaire's net worth, as of Feb 20, 2023, is $48 billion, and $49.1 billion, as per Bloomberg. Both ranked him as the twenty-fifth wealthiest person in the world.

Published on: Feb 20, 2023, 14:00:24 IST

By HT News Desk, New Delhi

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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.

Indian billionaire Gautam Adani. (REUTERS)

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.

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.

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.

Also Read: Adani shock for $3.1 trillion stock market is ebbing fast

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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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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