Meet Asia’s richest person and it is not Adani Group founder Gautam Adani
Adani Group founder Gautam Adani lost the crown of Asia’s richest person on Wednesday (February 1) after the stocks of Adani’s conglomerate continue to suffer losses, losing a total of USD 74 billion after a report by US-based short-seller Hindenburg Research.
The report published by Hindenburg Research few weeks ago had accused Adani Group of using offshore tax havens and over valuation of seven listed Adani companies.
For its part, Adani Group has released a detailed statement, rejecting Hindenburg’s claims as baseless. Adani Group asserted that it has always made regulatory disclosures without fail.
The losses suffered by Adani Group’s stocks made Gautam Adani fall down to 10th place on Forbes rich list with an estimated net worth of USD 84.1 billion, reported Reuters. Reliance Industries chairman Mukesh Ambani is now the richest person in Asia with estimated USD 84.4 billion. It is to be noted that Adani was world’s third richest person before the release of Hindenburg report.
Adani Enterprises plunged 5% on Wednesday, while Adani Power fell 5%. Adani Total Gas went down 10%.
Adani Total Gas, a joint venture between France-based energy giant Total and Adani Group. The company has lost a whopping USD 27 billion since the publication of Hindenburg report.
