NEW DELHI : Following the recent Hindenburg report, Adani's position came down in the list of global rich. Gautam Adani had face the failure and detoriation after suffering huge losses in stock.
The billionaire lost approximately 2 lakh crore in the market. Unfortunately, Gautam Adani failed to stick to his ranking at the top five of Global rich list. He came down to the seventh position in the rich list on Friday.
But, Gautam Adani is still the richest man in India. India's and Asia's billionaire, Gautam Adani has now come down to a spot below Microsoft owner, Bill Gates. Bill Gates wealth was estimated at $104.1 billion on the list.
Adani plunged to the third spot for a long period of time, however, was replaced by Jeff Bezos, the founder of Amazon. RIL Chairman, Mukesh Ambani secured the 11th position in the rich list with $83.6 billion.
Gautam Adani's downfall arrived on Friday, after the clash between Adani Group and US-based activist investor firm, Hindenburg Research took a more intense form on Thursday.
Hindenburg Research on 24th of January claimed that, Gautam Adani is involved in stock market manipulation. Apart from that, several allegations were made against Adani group and the role of his close family members.
The Adani group claims that the allegations are null and it is trying to defame and sabotage the FPO of Adani Enterprise. However, Adani denied all allegations and declared legal action against the Hindenburg research after the stock market witnessed a massive loss.
Hindenburg basically works as a forensic economic research enterprise concentrated on stock, investment and production. It was founded in 2017, by Nathan Anderson, who pursued his graduation from the University of Connecticut in international business.
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