Amid war of words between Adani Group, Hindenburg Research, India’s richest person Gautam Adani lost spot on world’s top ten billionaire list
Amid war of words between Adani Group and Hindenburg Research, India’s richest person Gautam Adani lost a spot on the world’s top ten billionaire list as his net worth dipped further on Tuesday.
The stocks of his group companies continued to fall even after detailed responses to the Hindenburg report.
In the report, the research firm raised concerns about shares of Adani group companies having a possibility of declining from their current levels, owing to high valuations.
As per Bloomberg Billionaire Index, the current net worth of Adani is $84.4 billion and he is at the 11th spot on the list of world’s billionaires.
On Sunday, Adani Group responded to “allegations and narrative peddled” by Hindenburg Research in a 400-page response.
