How Much Wealth Did Adani Lose To Fall Into The 26th Place Of The World’s Richest?

Adani Group's shares have been declining continuously. Since Hindenburg Research published its report on January 24 on Adani Group, the shares of the company have been declining steadily. After this report came out, the market capitalization of Adani Group decreased by 120 billion dollars in less than a month after it was released. It is reported that Adani's net worth has declined by $ 1.15 billion to $ 49.1 billion, according to the Trade Algo. 

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It is now clear that Adani has slipped to number 25 on the list of the world's wealthiest individuals. There has been a decline of $71.5 billion in his net worth over the last year. In September last year, he reached number two on this list, and his net worth reached close to $150 billion at that time.

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Bernard Arnault, who has a net worth of $192 billion and is the richest person in the world according to Forbes magazine, remains at the top of the list of the world's richest people. Tesla, SpaceX, and Twitter owner Elon Musk, who owns a net worth of $187 billion, is ranked second on the list with a net worth of $120 billion. Jeff Bezos, the founder of Amazon ($ 121 billion) is ranked third on the list, and Microsoft founder Bill Gates is ranked fourth ($ 117 billion).

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There is a possibility that Adani may slide down to number 25 on the list of the world's richest, having lost so much wealth until now.

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Dropped from second to 25th

Formerly, Gautam Adani ranked second on the list of the world's richest people. He was also left out of the top 20 in this list after the report of the American research firm was released. Adani Group shares are still in decline at the moment as the company continues to face challenges. 

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Due to such a situation, Gautam Adani has even dropped below number 21 on the list of the world's richest people in the current state. At the moment, he is ranked 25th on the list of the world's richest people. There has been a continuous decline in Gautam Adani's ranking as a billionaire on the rich list. He will likely be able to reach number 26 if this trend continues. 

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Warren Buffett, a veteran investor who is worth 107 billion dollars, ranks fifth on the list, Larry Ellison is ranked sixth with 102 billion dollars, Steve Ballmer is ranked seventh with 92 billion dollars, Larry Page is ranked eighth with 88.6 billion dollars, Carlos Slim is number nine with 84.9 billion dollars, and Sergey Brin is number ten with 84.8 billion dollars. With a net worth of $83.6 billion, Mukesh Ambani, Chairman of Reliance Industries, ranks 11 on this list of the wealthiest people in the world.

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Reliance and Tata had been left behind by the Adani Group

As of September last year, Adani Group had become India's largest conglomerate by market capitalization. Besides Reliance Industries, he had also been able to defeat Tata Group and Reliance Industries. 

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After the Hindenburg Research report was released on 24 January 2023, everything began to change after the report came out. It is alleged in the report that Adani Group has been rigging shares for several years, according to the report. This has led to a huge fall in the share price of Adani Group, even though Adani Group has denied these allegations.