From third to 30th position, Adani fell in the list of world's richest people

Just a month back, Gautam Adani was counted as the third richest person in the world. Now he has come at 30th place in the list of richest people.

Just a month back, Gautam Adani was counted as the third richest person in the world. But after the negative report of the American firm Hindenburg Research, the shares of the group headed by him were sold in such a way that now he has come to the 30th place in the list of richest people. Shares of Adani Group, which has business presence in various sectors like port, airport, edible oil, power, cement and data center, have witnessed heavy selling in the last one month.

Statistics show that there has been a huge decline of Rs 12.06 lakh crore in the market cap of 10 Adani group companies during this period.

What were the allegations leveled against Adani?

The report of Hindenburg Research was published on January 24, in which serious allegations were made on the Adani group of rigging and using fake foreign companies to increase the prices of shares. However, the Adani group dismissed these allegations as false and baseless.

Despite all the clarifications given by the Adani group, the process of decline in its shares continues. Adani Total Gas Limited has suffered the most, whose market valuation has declined by 80.68 percent. Similarly, the valuation of Adani Green Energy has decreased by 74.62 per cent.

The market value of Adani Transmission has declined by 74.21 per cent since January 24. At the same time, the valuation of Adani Enterprises, the main company of the group, has fallen by about 62 per cent. Apart from Adani Power and Adani Wilmar, the market capitalization of its cement companies Ambuja Cements and ACC has also declined during this period. Along with this, media company NDTV and Adani Ports and SEZ have also suffered significant losses in valuation.

Mukesh Ambani became the richest man in the country

If we talk about Gautam Adani's personal capital, then his valuation has come down from $120 billion to less than $40 billion. In this way, his personal valuation has come down by $ 80 billion i.e. two-thirds. With the decline in Adani's wealth, Reliance Industries Chairman Mukesh Ambani has again become the richest man in the country. Ambani is the 10th richest person in the world with assets of $81.7 billion.

Former US Finance Minister and former Harvard University President Larry Summers recently compared the Adani case to the Enron case, saying that it could become India's Enron case. In the year 2001, American company Enron Corporation had a huge fall in its shares after being accused of exaggerating its revenue.

Hindenburg Research in its research report has also accused the Adani group of adopting wrong methods to raise the share price. At the core of his allegations is that Adani Group executives or family members have some form of control over companies that own group companies.