Mon 27 February 2023:
Gautam Adani, the chairman of the Adani Group, has slipped out of the world’s top 35 billionaire list as the group’s stocks continue to fall following the Hindenburg report. Currently, he is at the 37th spot on the list.
On Monday, the first day of the trading week, most of the group’s stocks faced significant sell-offs, causing a dip in Adani’s net worth.
Some of the Adani Group’s company stocks were locked in their lower circuits. The decline in Adani’s net worth is a result of the ongoing negative market sentiment.
Adani stocks locked in lower circuits
At 10:30 am today, stocks of some of Adani Group companies were locked in their lower circuits. They are Adani Green, Adani Transmission, and Adani Total Gas Limited. The stocks of Adani Enterprises, ACC, Ambuja Cements, Adani Power, and NDTV were trading in the red.
Only Adani Ports was trading in green.
Top loser on billionaire list
Today, Adani once again emerged as the top loser. In one day today, the billionaire lost USD 1.5 billion i.e., 4.17 percent of his net worth.
Today’s top five winners
| Name | Current net worth (in billion USD) | Change in net worth (in million USD) | Change in net worth (in percentage) | Country |
| Zhang Yong | 7.8 | +827 | +11.93 | Singapore |
| Hubert Burda | 4.6 | +528 | +13.01 | Germany |
| Jin Baofang | 9.9 | +384 | +4.03 | China |
| Pang Kang | 17.3 | +315 | +1.85 | China |
| Mangal Prabhat Lodha | 3.7 | +273 | +7.94 | India |
Today’s top five losers
| Name | Current net worth (in billion USD) | Change in net worth (in million USD) | Change in net worth (in percentage) | Country |
| Tadashi Yanai | 11.4 | -18600 | -62.08 | Japan |
| Gautam Adani | 33.8 | -1500 | -4.17 | India |
| Andrew Forrest | 19.3 | -1300 | -6.14 | Australia |
| Mukesh Ambani | 83.3 | -794 | -0.94 | India |
| Mikhail Fridman | 13.5 | -599 | -4.26 | Russia |
Adani’s net worth dipped again
The Hindenburg Effect has caused a significant drop in Gautam Adani’s net worth, which was USD 134.2 billion on December 13, 2022, but now stands at USD 33.8 billion.
Due to the continuous fall in the stocks of the group firms, the gap between the net worths of Gautam Adani and Reliance Industries Limited (RIL) chairman Mukesh Ambani has also widened. At present, the net worth of Ambani is more than twice of Adani’s
Ambani has regained his title as the richest person in India as of February 1. He is the only Indian in the world’s top billionaire list.
Currently, he is ranked 8th on the world’s billionaire list. His net worth is USD 83.3 billion.
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