Gautam Adani, Chairman of Adani Group has gone from being the world’s third’s richest person on 17 January 2023 to not even being among the top 20 on Friday, 3 February. Adani’s net worth has fallen sharply from $124 billion on 17 Jan to $61.3 billion as of Friday. The steep decline in Adani’s fortune comes as a result of the Adani Group companies shedding $108 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud in a 24 January report. He has tumbled to 21st spot on the Bloomberg Billionaires Index.
