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Gautam Adani’s total assets reached below $ 50 billion due to Hindenburg report

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Gautam Adani's total assets reached below $ 50 billion due to Hindenburg report

Feb 20, 2023 at 02:49 pm
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Gautam Adani's total assets reached below $ 50 billion due to Hindenburg report
Gautam Adani's net worth declined drastically

After the Hindenburg Research report came out, there has been a huge decline in the net worth (total assets) of Adani Group Chairman Gautam Adani.

Bloomberg Billionaires Index According to the latest data, Adani's total net worth has come down to $ 50 billion (Rs 4.13 lakh crore).

At present, Adani's total net worth is $ 49.1 billion (Rs 4.05 lakh crore), which was $ 120 billion (Rs 9.91 lakh crore) about a month ago.

Adani reached far below Ambani in the list of billionaires of the world

Mukesh Ambani, the owner of Reliance Industries Limited, remains way above him in the list after the loss to Gautam Adani.

According to the data, Ambani is currently ranked 11th in the world's billionaires list with a total net worth of $83.6 billion (Rs 6.91 lakh crore). Ambani is currently the richest person in India as well.

Adani is ranked 25th in the list of billionaires, much below Ambani.

Adani's personal wealth has decreased by Rs 5.86 lakh crore this year

india today According to , Gautam Adani's personal wealth has lost about $ 71 billion (Rs 5.86 lakh crore) since the beginning of this year. This Bloomberg Billionaires Index This is the sharpest decline among the wealth of the world's top 500 billionaires included in the list.

Explain that apart from the decline in personal wealth, there was a huge decline in the shares of Adani group companies as well.

Adani Group's market value is less than $ 100 billion

Mint According to the report, due to the continuing fall in the shares of Adani group companies, its total market value has fallen from $ 135 billion (Rs 11.1 lakh crore) to less than $ 100 billion (Rs 8.27 lakh crore).

In September last year, the group's market value was around $ 290 billion (Rs 23.9 lakh crore). Adani Total Gas has suffered the most.

What did the Hindenburg Research allege?

US-based Hindenburg Research in its report accused Gautam Adani of 'the biggest fraud in the corporate world'. It was claimed in this report that Adani group companies have so much debt, which puts the entire group in a financially high risk situation.

Adani has also been accused of running a shell company through his family. However, the Adani group had denied these allegations.

How did the Adani group respond to the allegations?

The Adani Group had issued a detailed 413-page reply to the Hindenburg Research report. In this, the group described Hindenburg's report as a planned attack on India, its institutions and India's development story, saying that all its allegations are false. The purpose of this report is to prepare the market for the benefit of American companies.

Regarding this report, the group had also talked about legal action on Hindenburg.

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More than 6 years of experience in Digital Journalism. I write on political and tech topics. Follow for regular updates of country, foreign and tech news.

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