Tuesday, June 25, 2024

Gautam Adani’s net worth dips as stocks continue to fall today

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The net worth of Gautam Adani dipped further on Monday as stocks of his group companies continued to fall even after detailed responses to the Hindenburg report.

Today, Adani lost USD 8 billion in a single day. After the drop in his net worth, Adani slipped to 8th position in the world’s billionaire list.

Currently, the net worth of Adani reached $88.7 billion which is just $4.9 billion more than Reliance Industries Limited Chairman Mukesh Ambani whose net worth is $83.8 billion.

The stocks of companies belonging to the Gautam Adani group started falling after Hindenburg Research released a report on the group.

In its 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.

Gautam Adani’s net worth dropped by over USD 45 billion in less than 50 days
Within a span of less than 50 days, Gautam Adani’s net worth dipped by over USD 45 billion. His net worth slid from USD 134.2 billion on December 13, 2022, to USD 88.7 billion on January 30, 2023.

The shares of several Adani group firms dipped by over 40 percent in the last five days. Even the shares of NDTV fell by over 13 percent in one week.

Still, Gautam Adani continues to be the richest person in India. However, the net worth gap between him and the second richest Indian Ambani narrowed significantly after the release of the research firm report.

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