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Gautam Adani slips to 7th spot in Forbes billionaires list after Hindenburg report

Reported by:  PTC News Desk  Edited by:  Shgun S -- January 27th 2023 08:40 PM
Gautam Adani slips to 7th spot in Forbes billionaires list after Hindenburg report

Gautam Adani slips to 7th spot in Forbes billionaires list after Hindenburg report

Gautam Adani's net worth has continued to fall, putting him in the seventh spot on the Forbes Real Time Billionaires list, down from the third position he held prior to the Hindenburg report. According to Forbes, his net worth is $96.5 billion as of January 27, 2023, a decrease of more than $22.7 billion (19%).

Shares of Adani Group's seven publicly traded companies fell for the second day in a row on Friday, extending their slide following the Hindenburg Research report. Adani Group has denied the report and stated that it is considering legal action against the New York-based firm.


Adani Transmission shares fell more than 19%, Adani Total Gas shares fell 19.1% in their biggest daily drop since mid-March 2020, and Adani Green Energy shares fell about 16% on the BSE.

Meanwhile, Adani Enterprises fell even as it launched a 20,000 crore follow-on public offer (FPO) today. It will sell shares at a price range of $3,112 to $3,276 per share, with the issue closing on January 31, 2023. On Wednesday, the flagship firm of billionaire Gautam Adani's conglomerate said it had raised $5,985 crore from anchor investors ahead of the offer.

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- PTC NEWS

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