Gautam Adani, who was once the world’s third richest industrialist, has only one-third of his wealth left. Gautam Adani, who was the third richest person in the world till a month ago with a net worth of $130 billion, has slipped to number 33 in a month. Gautam Adani has reached number 33 in Forbes’ Real Time Billionaire list with $35 billion. Noteworthy
That all this has happened after the negative report of the American research firm Hindenburg. On January 24, when the short seller company released its report against the Adani group, their assets stood at $127 billion. Within a few days, this report took him to the 33rd position. Adani Group has seen a lot in the last one month
What happened after the Hindenburg report
In his report, Hindenburg had made several serious allegations on the Adani group including accounting fraud, overpricing of share prices. In his report, Hindenburg had said that the prices of shares of Adani Sooh’s companies are up to 85 per cent higher and today his prediction has come true.
Adani’s shares have fallen by 85 percent. Not only Gautam Adani, his investors have also suffered huge losses. Let’s have a look, how much loss has been incurred by everyone including Adani in a month.
Biggest loss to Gautam Adani
Gautam Adani’s personal wealth has come down to just $35 billion. Between January 24 and February 24, Gautam Adani’s net worth has fallen from $ 127 billion to $ 35 billion.
Two-thirds of his wealth has been destroyed in a month. Now only 1 third of the property is left with Gautam Adani. If we look at the Bloomberg Billionaire Index, Gautam Adani’s wealth has come down to $40 billion.
slaughter of adani shares
There has been a big fall in the shares of Adani group companies. Adani’s share price has fallen by 85 percent. Shares of Adani Enterprises, which closed at Rs 3436 on January 23, have fallen 60 per cent to Rs 1382.65.
Shares of Adani Total, which closed at Rs 3,901 on January 23, fell 80 per cent to close at Rs 791. Shares of Adani Green Energy, which were at Rs 1932 a month ago, have fallen to Rs 512. This decline is not just in numbers. This shows how big a loss Adani’s investors have suffered from this report.
Blow to LIC
There has been a huge loss in the share prices of Gautam Adani. LIC is the biggest investor among these investors, which has suffered huge losses since the arrival of this report.
LIC has major investment in Adani’s 5 companies. LIC’s total investment in Adani’s companies stood at Rs 72,193.87 crore on January 24, which came down to Rs 26,861.88 on February 23.
That is, LIC’s investment in Adani’s companies has fallen by 62.79 per cent. Not only this, LIC has been hit twice. Adani’s shares have fallen by up to 17 per cent.
SBI also got a shock
The effect of the blow to Gautam Adani is also being seen on SBI shares. SBI has given loans to Gautam Adani’s companies in turn.
If the company is unable to repay this loan, then the bank will suffer a big loss. Due to this fear, SBI investors are also leaving by selling shares. On January 24, when the Hindenburg report came, SBI shares had closed at Rs 604.60.
On February 23, the company’s shares fell to Rs 521. SBI shares fell by 14 per cent in a month. That is, if seen, the fire of Hindberg’s report was not limited to Adani only, but the people associated with him are also suffering from it.