The business tycoon has lost nearly $27 billion of his net worth so far this year. Adani’s Wealth fell by $6 billion on Wednesday and another $20.8 billion on Friday to $92.7 billion, showed the Bloomberg Billionaires Index.
AgenciesThe sell-off in Adani Group shares on Wednesday and Friday has resulted in the total market capitalisation of group companies falling by `4.2 lakh crore, or $51 billion, in this period.
The rout in Adani Group shares last week, following US-based short seller Hindenburg Research’s adverse report on the conglomerate, has pushed its billionaire founder Gautam Adani to seventh place from third in the Bloomberg Billionaires Index.
The business tycoon has lost nearly $27 billion of his net worth so far this year. Adani’s wealth fell by $6 billion on Wednesday and another $20.8 billion on Friday to $92.7 billion, showed the Bloomberg Billionaires Index.
In September 2022, Adani had become the secondrichest person in the world, surpassing Amazon founder Jeff Bezos with a net worth of $147 billion. While Bernard Arnault of LVMH retains the top position with $190 billion, Elon Musk and Jeff Bezos occupy the second and third spots in the index with net worth of $167 billion and $126 billion, respectively.
Microsoft founder Bill Gates, with a net worth of $112 billion, has been ranked as the fourth richest, while Warren Buffett of Berkshire Hathaway is the fifth wealthiest with a net worth of $108 billion. Larry Ellison of Oracle is sixth on the list, with a net worth of $101 billion. Reliance Industries chairman Mukesh Ambani, who has lost $5.77 billion of wealth since January 1 this year, is at the 13th spot in the rich list with a fortune of $81.3 billion. The sell-off in Adani Group shares on Wednesday and Friday has resulted in the total market capitalisation of group companies falling by `4.2 lakh crore, or $51 billion, in this period.
Agencies
Get Unlimited Access to The Economic Times
