NEW DELHI: Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raising questions about some offshore investors triggered a rout in his conglomerate’s six listed stocks.
The 58-year-old tycoon has lost more money this week than anyone else in the world, with his personal fortune tumbling by about $13.2 billion to $63.5 billion, according to the Bloomberg Billionaires Index. Just days ago, he was closing the gap with Mukesh Ambani as Asia’s richest man.
The U-turn in shares started Monday after the Economic Times reported that India’s national share depository froze the accounts of three Mauritius-based funds because of insufficient information on the owners.
