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Adani falls off world’s top 20 billionaire list as net worth dips further

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Gautam Adani whose net worth is continuously falling after the release of the Hindenburg report now lost the spot in the world’s top 20 billionaire list.

Today, he lost over Rs 1680 crore as stocks of his group’s companies continue to lose market capitalization.

Most of the group’s stocks are locked in their respective lower circuits. These stocks include Adani Transmission, Adani Green Energy, Adani Wilmar, Adani Power, Adani Total Gas, and NDTV.

Currently, with a net worth of USD 57.5 billion, Adani is at the 22nd spot on the list of billionaires in the world.

Hindenburg effect

It all started after Hindenburg research firm released a report raising concerns about shares of Adani Group companies having a possibility of declining from their current levels, owing to high valuations.

Soon after the release of the report, the stocks of companies belonging to the group started falling.

Though, the group responded to allegations and narrative peddled by the firm in a 400-page response, some of the group’s companies are still witnessing sharp sell-off.

Due to the Hindenburg effect, the net worth of Gautam Adani which was USD 134.2 billion on December 13, 2022, fell to USD 57.5 billion now.

Gap between Gautam Adani and Mukesh Ambani widens

Due continuous fall in the stocks of the group firms, the gap between the net worths of Gautam Adani and Reliance Industries Limited (RIL) chairman Mukesh Ambani is widening for the past two days.

Ambani who once again become the richest person in India on February 1 is currently at the eleventh position in the world’s billionaire list. His net worth is USD 82.4 billion.

No Indian in world’s top 10 billionaire list

After the exit of both Gautam Adani and Mukesh Ambani, no Indian is left in the world’s top 10 billionaire list. Currently, there are eight American and one French, and one Mexican on the list.

NameNet worthCountry
Bernard Arnault$217.5 billionFrance
Elon Musk$183.2 billionUnited States
Jeff Bezos$136.0 billionUnited States
Larry Ellison$113.6 billionUnited States
Warren Buffett$108.3 billionUnited States
Bill Gates$106.1 billionUnited States
Larry Page$92.8 billionUnited States
Carlos Slim Helu$90.8 billionMexico
Sergey Brin$88.8 billionUnited States
Steve Ballmer$84.8 billionUnited States

The list is topped by Bernard Arnault who is the chairman and CEO of the world’s luxury goods company LVMH. He is a French citizen.

Currently, with a net worth of USD 217.5 billion, he is the only person in the USD 200-billion club.

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( With inputs from www.siasat.com )

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