World Richest List: Billionaire businessman Gautam Adani’s troubles are not taking the name of ending. Gautam Adani, who once held the third position in the list of Asia’s richest and world’s richest, is continuously falling in this list. Caught in a short-selling storm following a Hindenburg Research report, he is no longer even on the list of the world’s 25 richest people.
According to Forbes and Bloomberg’s list of the world’s richest people, Adani dropped out of the top 25 on Wednesday after his net worth fell below $45 billion. He is ranked 26th on the Forbes list and 29th on the Bloomberg list.
Adani is out of the top 25
His net worth is currently estimated at $43.4 billion in the Forbes Real-Time Billionaire List, while according to the Bloomberg Billionaires Index, his net worth has risen to $42.7 billion. Gautam Adani has lost over $75 billion since US short-selling firm Hindenburg released a report accusing Adani of perpetrating the ‘biggest fraud in corporate history’.
Biggest one-day fall
According to Forbes and Bloomberg, Adani, who was once the second richest person in the world, has lost $3.2 billion and $3.39 billion respectively in his wealth since yesterday. On Monday, Adani’s net worth fell below $50 billion for the first time. This led to him being ranked as the 25th richest person in the world on both Forbes and Bloomberg’s Real Time Billionaires lists yesterday. But today he is 26th on the Forbes list and 29th on Bloomberg’s list.
Who in which position
Adani Group founder Gautam Adani is trailed by Nike’s Phil Knight ($45.9 billion) in the Forbes list. On the other hand, the Bloomberg index ranked him between Italy’s Giovanni Ferrero & Family ($42.9 billion) and France’s Francois Pinault ($41.3 billion). France’s Bernard Arnault remains at the top, followed by Twitter chief Elon Musk.
Adani Enterprises shares fell 10.4% on Wednesday, while Adani Ports shares fell 6.25%. Adani, who was Asia’s richest man at the beginning of the year, is now the fourth richest man in the continent after Mukesh Ambani and the Chinese duo of Zhong Shanshan and Zhang Yiming.