Gautam Adani slips to 15th in global rich list

NEW DELHI: Adani group president Gautam Adaniwho came in at number 10 on Forbes real-time billionaires list for 2023 after being overtaken by Dependent industry Chairperson Mukesh Ambani on Wednesday, continued to slide and came in at number 15 on the list.
According to the Forbes list, Adani’s current net worth is $75.1 billion while earlier in the day it was $83.9 billion.
Earlier on the same day, Reliance Industries President Mukesh Ambani had pass Adani became the world’s richest Indian with a net worth of $84.3 billion, according to Forbes’ 2023 real-time billionaires list.
Ambani overtook Adani after Reliance Industries Chairman’s fortune increased 0.19% with an increase of $164 million in fortune while Gautam Adani’s fortune fell 4.62% with industrialist’s fortune pegged at $84.1 billion according to Forbes’ real-time tracker at 5 p.m. EST on Tuesday.
Adani, who is among the top three billionaires in the world, has dropped to 10th place, just behind Mukesh Ambani. Topping the list is French luxury fashion giant LMVH’s Bernard Arnault and family. In December 2022, founder and CEO of Louis Vuitton, Bernard Arnault passed Elon Musk as the richest man in the world.
However, these values ​​fluctuate continuously. If Adani’s stock goes up, it is assumed that Adani’s personal wealth will also increase.
This comes after a report by US short seller Hindenburg Research on Adani Group alleges a decades-long fraud scheme, “blatant accounting fraud, stock manipulation and money laundering .”
However, the Adani Group said it was weighing legal options in the US and India against Hindenburg Research after its report accused Gautam Adani-owned companies of market manipulation and fraud. accounting fraud.
In a sharp and focused response to the Hindenburg Research report on its businesses, the Adani Group answered all 88 questions raised by Hindenburg, including the young age of its businesses. auditor.
Hindenburg later countered that the accusations by the Adani Group were “baseless”.
Shares of companies belonging to the Adani Group fell in morning trading today. However, the market’s main indexes opened higher as investor sentiment was boosted. union budget expected.
Shares of Adani Enterprises, the group’s flagship, fell 3.02% to Rs 2,880.2 on BSE. Over a five-day period, the stock fell 15%. Blue Adani fell 3.82% to Rs 1,177.15 per person and the stock fell about 38% within 5 days.


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