Adani Enterprises Falls Big – Gautam Adani’s Net Worth Crashes 📉

Adani Enterprises Falls Big – Gautam Adani’s Net Worth Crashes

Indian industrialist and tycoon Gautam Adani lost half of his net worth in a week following the recent fall of Adani Group’s flagship company Adani Enterprises. Now how did this happen? It began on January 24th, when Hindenburg Research, an investment research firm focused on short-selling, released a bombshell on Adani; a comprehensive two-year-long report had targeted Adani Enterprises’ activities, some of which were alleged fraud and market manipulation. This sent the shares of the Indian conglomerate to fall 46.39% in the past five trading days. Gautam Adani, one of the largest shareholders of the company, saw a decline in an estimated $58 billion dollars of his net worth. This came shortly after the end of last year when he became the third richest person in the world in front of Amazon’s founder Jeff Bezos and right behind Tesla CEO Elon Musk.

Gautam Adani himself started his conglomerate business in 1988, but only received exponential growth in the past five years. During these five years, Adani’s own worth surged by 2,500% and Adani Group became the second-largest Indian conglomerate with a market capitalization of $280 billion U.S. dollars. Before the crash, Adani pledged his empire was in line with India’s needs, spanning multiple industries from energy, ports, food, and more. Alongside this, Mr. Adani and his business became partnered with India’s current Prime Minister, Narendra Modi. Now, after Hindenburg’s report and Adani Group’s loss of $110 billion in market cap, several question whether India purposefully didn’t execute proper financial regulation or if this report was an attack on India’s integrity.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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