The beginning of the year 2023 has not been very good for Adani Group owner Gautam Adani. His wealth has been falling since the beginning of the year. Due to dominating selling in shares, his net worth is continuously declining. Asia’s biggest industrialist Gautam Adani’s net worth decreased so much that he slipped a notch further down in the list of world’s top rich. Although the net worth of Jeff Besoz, who was on the third position, also declined and Adani again reached his place. According to the Forbes Real Time Billionaire Index, there was a loss of $ 6.1 billion i.e. Rs 489,99,30,00,000 in his wealth.
why property is falling
Gautam Adani’s wealth has seen a decline of $ 6.1 billion. His wealth fell by Rs 489,99,30,00,000 in a single day. Actually, the shares of Adani Group declined, due to which their net worth is also declining. While he is at number three in Forbes list, he is at number four in the list of Bloomberg Billionaire Index. According to Forbes list, his net worth has reached $120.5 billion.
Adani’s shares are continuously falling
There is a big decline in the shares of Adani Group. Shares of Ambuja Cement, recently bought by Adani, fell up to 9.6 per cent. On the other hand, the stock of Adani Ports is trending down by 7.2 per cent. Not only this, other shares of the company ACC, Adani Transmission, Adani Power, NDTV have fallen more than 5 percent. This decline in shares has come after a report came to the fore.
This report created panic
Forensic financial research firm Hindenburg has released its report. It has been said in this report that Adani has short positions in the companies. Not only this, the report has also raised questions on the loans of these companies. The report claimed that 7 major listed companies of Adani Group are overvalued by more than 85 per cent. After the arrival of this report, the shares of Adani Group reached the red mark. Shares saw a decline of up to 10 percent. Earlier in the year 2022, the credit sites of Fitch Group had also expressed concern about this.