Gautam Adani: Gautam Adani lost 20% of his wealth, lost Rs 18,42,62,32,00,000 in one day
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On Friday, many companies of Adani Group fell by 20 percent. Adani Total Gas, Adani Enterprises, Adani Green Energy and Adani Transmission declined 20 per cent. Shares of many of these companies reached their lowest level in 52 weeks in one fell swoop. Adani Ports declined by 17.13 per cent, Ambuja Cements by 17.50 per cent, ACC Ltd. by 13.04 per cent. Shares of Adani Power, Adani Wilmar and NDTV fell five per cent.
20 percent net worth swap
According to Forbes Real Time Billionaire, 18.98 percent of Adani’s net worth was wiped out in one stroke due to the fall in shares. His net worth now stands at $96.6 billion. Earlier on Wednesday too, his net worth had declined by about six billion dollars i.e. about 50 thousand crore rupees. Last year, Adani’s net worth had reached $ 150 billion at one time and he had reached number two in the list of the world’s rich. But recently there has been a lot of decline in his net worth and he has slipped down in the list of rich. Adani has slipped to number seven in the Forbes Real Time Billionaire list.
Hindenburg Research’s report claims that all is not well in the Adani Group. The group has been involved in blatant stock manipulation and account fraud for decades. However, Adani Group has termed this report as a bundle of lies and said that it is a conspiracy to defame it before the FPO. Adani Group’s Rs 20,000 crore FPO opened for subscription on Friday.
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