Adani’s Rs 4.76 lakh crore wealth wipeout in six days has few parallels
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.
