Gautam Adani has seen Rs 4.76 lakh crore erased from his personal fortune in the span of just six trading days — a downfall so spectacular that it defies just about every historical comparison.
He’s not quite like onetime crypto wunderkind Sam Bankman-Fried or Archegos Capital Management’s Bill Hwang, who went from tens of billions to nothing in a flash as their leveraged trades imploded. After all, even after a share-price collapse in the wake of Hindenburg Research’s short-seller report, Adani oversees a sprawling conglomerate that builds capital-intensive infrastructure such as ports and airports in line with Prime Minister Narendra Modi’s development goals.
