Gautam Adani slips to No. 30 in rich list

New Delhi (PTI): Gautam

Adani was the world’s third and Asia’s richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No 30 on the world billionaire index.

Adani’s sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research.

Sharp Fall In Last 1 Month

 Gautam Adani, 60, a firstgeneration entrepreneur, has lost $80.6 billion in wealth, which was primarily based on valuation of his holding in group companies

 He was worth $120 billion before Hindenburg report but now is ranked No.30 on the world

Since the Hindenburg report, the group’s 10 listed companies have lost Rs

12.06 lakh crore, nearly equivalent to the market capitalisation of Tata Consultancy Services (TCS) - India’s second most valuable company.

Group’s founder chairman Gautam Adani, 60, a first-generation entrepreneur, has lost $80.6 billion in wealth, which was primarily based on valuation of his holding in group companies.

He was worth $120 billion before Hindenburg report but now is ranked No.30 on the world billionaire index with about $40 billion networth.

Rival Mukesh Ambani, whom he had overtaken last year to become Asia’s richest is now ranked No.10 with $81.7 billion wealth.

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