After the release of the report, Gautam Adani's net worth decreased by $22 billion, or approximately 20%...
Digital Desk: The third-richest person in the world at the beginning of this week, Indian billionaire Gautam Adani, has dropped to seventh place on the global rich list. According to a Hindenburg report, the Adani Group of enterprises is the subject of this.
Larry Ellison, Warren Buffet, Bill Gates, Jeff Bezos, Elon Musk, and Bernard Arnault are currently above Gautam Adani in value.
The richest person in the world is LVMH's Bernard Arnault, whose net worth is close to $190 billion. Elon Musk's net worth increased as Tesla shares experienced a swift comeback, rising 11% on Friday and a solid 30%+ over the previous week. Through Friday, Amazon's shares increased by 3% as well, increasing owner Jeff Bezos's income.
Despite the decline, Mukesh Ambani, who has a net worth of $81 billion, is ranked 13th on the list, making Gautam Adani the only Asian and Indian on it.
Following the publication of the report, Gautam Adani's net worth decreased by $22 billion, or approximately 20%. After the Adani Group's shares took a significant hit, Gautam Adani's net worth currently stands slightly around $93 billion. Adani Transmission, Adani Green Energy, and NDTV Ltd., all members of the group, have fallen more than 50% from their 52-week highs.
Adani Power, Adani Wilmar, and Adani Ports are other Adani Group companies that have had their stock prices decline by 40 to 50 percent from their 52-week highs. Adani Total Gas has decreased 27% from its 52-week high, while newly purchased ACC and Ambuja have both lost over 30% from their highs.
However, the study by Hindenberg Research had a significant role in the downturn, with all Adani Stocks experiencing significant drops on Friday. Additionally, stock volume increased. The Nifty 50's top losers on Friday were Adani Ports and Adani Enterprises.
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