According to Forbes and Bloomberg report, Gautam Adani the chairperson of Adani group of companies is no longer in the top 25 list of richest person of the world. New York based short seller & investor research firm Hindenburg Research alleged that Adani Group of companies involved in accounting fraud, stock manipulation & setting up fabricated companies by Vinod Adani the brother of Gautam Adani chairperson of Adani group of companies. Since then Adani group of companies shares drastically losing the market value. Investment firms such as Citibank, Standard Chartered and Credit Suisse and many other rating agencies stop accepting Adani Bond as collateral.
Adani’s Net worth contracted below USD 45 Billion, He was considered as one of the top in top 10 richest persons of the world and first richest person in India. According to the latest report he is neither in the list of top 25 richest in the world nor top 5 richest persons in India. In December 2022, the net worth was around USD 139 billion. His net worth has sharply declined by more than $75 billion after the Hindenburg Report & other financial institutions intervention.
As of February 2023, The Adani Enterprises closed at 1404.85 with negative growth of 10.6%. Adani green 539.05 with negative growth of 5%, Adani port 539.5 with -6.2% and Adani power 162.45 with -5%.
Adani group of companies are having a tough time and unable to win the confidence of the investors. In the crisis, Bank of Baroda Chairperson showed his confidence on Adani group, where it is based on Hindenburg report, Many Indian and foreign financial institutions are in Dilemma with Adani Group
