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.

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)

The Forbes Real-Time Billionaire List and Bloomberg Billionaires Index are daily rankings of the wealthiest people in world.

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.

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).

France's Bernard Arnault, meanwhile, remains on top, followed by Twitter boss Elon Musk.