Economy desk: India’s billionaire Gautam Adani has dropped further in the list of the world’s richest people. He is now ranked 38th in Forbes magazine’s list.According to Forbes’ real-time tracker, Adani’s net worth is $33.4 billion. In a report, the Indian newspaper Times of India provided such information.
On January 24, after the publication of a report by a small US research firm, Hindenburg Research, the share price of Adani Group fell. Gautam Adani’s personal wealth is decreasing due to this.
According to the Hindenburg report, the Adani Group committed fraud in stock and accounts. They claim that Adani Group influenced the market by providing false information.Through this, they have increased the price of their shares in the market. After the publication of this report, there was a storm in Adani’s arranged empire.
Adani is still optimistic about the survival of his empire. He stressed that the decision to cancel the sale of shares in the retail market will not affect his group’s existing operations or future plans. He said, “No rating agency has yet re-evaluated our debt.” Hindenburg’s allegations have not yet dropped Adani from global stock market indices.
It should be noted that Gautam Adani, who started his business in the 1980s, owns seaports, airports, and power generation companies. Along with this, there is approval for coal imports. Adani-controlled companies import more than one-third of India’s coal needs.
