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BUSINESS
Billionaire businessman Gautam Adani has plunged from third richest person in the world to 11th spot on the Bloomberg Billionaires Index.
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Updated : Jan 31, 2023, 11:59 AM IST
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Adani Group chairman Gautam Adani has slipped out the world's top 10 richest people list and it is likely that Adani would soon lose the crown of Asia's wealthiest person if shares in his companies continue to suffer losses.
The Indian billionaire businessman has plunged from third richest person in the world to 11th spot on the Bloomberg Billionaires Index. Adani’s personal wealth has gone down USD 34 billion in last three trading days.
Adani’s current fortune is USD 84.4 billion, while Reliance Industries Ltd. chairman Mukesh Ambani’s net worth is USD 82.2 billion and he is now the 12th richest person in the world.
Shares of Adani Group companies started bleeding on stock market after US-based Hindenburg Research published a report accusing Adani Group companies of being involved in “brazen stock manipulation and accounting fraud.”
On its part, Adani Group had rejected Hindenburg’s allegations, claiming that the allegations are a "calculated attack" on India, its institutions and growth story. Adani Group rejected the allegations as "nothing but a lie".
It is to be noted that Adani had been the biggest wealth gainer last year as his companies recorded gains worth around USD 40 billion.
Gautam Adani is currently behind other billionaires like Bill Gates, Jeff Bezos and Google co-founders Larry Page and Sergey Brin.
Bernard Arnault is the richest person in the world with a net worth of USD 189 billion. Tesla CEO Elon Musk is at second place with a net worth of USD 160 billion, while Jeff Bezos is ranked third with USD 124 billion.
