Gautam Adani isn't Asia's richest person anymore after losing over $50 billion | Business Insider

Gautam Adani is no longer Asia's richest person, after falling to 15th place on Forbes' billionaires list.

For more stories, go toIndian industrialist Gautam Adani is no longer Asia's richest person as a rout in his conglomerate's stocks intensified, after a bombshellHe now has an estimated net worth of $74.7 billion and ranks as the world's 15th wealthiest person on, which updates the value of richest people's public holdings in real-time when their stock markets are open. He was overtaken by Mukesh Ambani, the chairman of Reliance Industries who is worth $83.

Adani had ranked 3rd on Forbes' list as recently as at the start of last week, before Hindenburg accused the conglomerate of"pulling the largest con in corporate history" by engaging in stock manipulation and accounting fraud. The group hasThe founder and chairman of the Adani Group has seen his fortune shrink by

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Four of the richest Indians have collectively lost about $45 billion in 2023 | Business InsiderGautam Adani – whose net worth is down $36.1 billion this year – and his fellow Indian billionaires are leading losses on the Bloomberg Billionaires Index.
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International Finance: Adani in crisis as bonds hit distressed levels, stock sale axedGautam Adani’s beleaguered empire is spiralling into crisis, as the fallout from a short-seller’s fraud allegations leads to a worsening meltdown in the indebted conglomerate’s securities.
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Business Maverick: Adani pulls off $2.5bn share sale after jump in final bidsBeleaguered Indian tycoon Gautam Adani got a reprieve on Tuesday by pulling off a closely watched $2.5-billion share sale, defying odds after a short seller’s allegations of corporate malfeasance erased more than a quarter of his group’s market value.
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