Hindenburg effect: Gautam Adani no longer among world’s 25 richest on Forbes, Bloomberg lists

Billionaire Gautam Adani’s free fall doesn’t seem to be ending anytime soon as the once Asia’s richest man no longer figures among the world’s 25 richest persons’ list after being caught in a short selling storm with Hindenburg research. According to the world billionaires list by Forbes and Bloomberg, Adani has slipped to the 26th and 29th rank respectively after his net worth tanked to less than $45 billion on Wednesday.

While the Forbes Real-Time Billionaire List pegged his current net worth at $43.4 billion, the Bloomberg Billionaires Index said that his net worth slipped to $42.7 billion. This is a massive wipe off of over $75 billion of wealth since the release of the scathing report by the US short selling accusing Adani of pulling the ‘largest con in corporate history.’