Billionnaire Gautam Adani’s wealth free fall continues and his net worth has plunged below $ 45 billion. He was once Asia’s richest man and now he longer figures among world’s 25 richest person’s list after being snapped at the heels badly by short selling firm Hindenburg Research’s report. As per latest list released by Forbes and Bloomberg, Adani has slipped to 26th and 29th respectively.
Gautam Adani no longer features among world’s 25 richest person list
Forbes Real Time Billionaire list pegged his current net worth at $43.4 billion and Bloomberg Billionaires Index has stated that his net worth slipped to $42.7 billion. Around couple of months back Gautam Adani had a net worth of $ 75 Billion , which took a massive hit after scathing report by US Short Selling firm Hindenburg Research Report.
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Fourth richest person in Asian Continent
Gautam Adani was the third richest person at the start of the year, with the highest net worth among Asians, he is now only the fourth richest in the continent, behind Mukesh Ambani ,and the Chinese duo of Zhong Shanshan and Zhang Yiming respectively.
Till now, Adani Group has lost about $142 billion in market capitalization since the Hindeburg report was published on January 24. However Gautam Adani has repeatedly denied the allegations of stock manipulation and improper use of tax havens and has also cut expenses ad repaid debt as he seeks to calm traders concerned about Group’s access to financing.
On the Forbes list, the founder – chairman of the Adani conglomerate is behind Nike’s Phil Knight ($45.9 billion) . On the other hand, Bloomberg list has ranked him between Italy’s Giovvani Ferrero & family ($ 42.9 billion) and Francois Pinault ($ 41.3 billion).
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