Mumbai: Adani Group companies’ stocks have been making headlines due to the recent dip in their values and its impact on the net worth of its chairman and founder, Gautam Adani.
Gautam Adani’s net worth has dropped to a near two-year low. It was USD 119 billion when Hindenburg released a report against the group and now it has dropped to USD 49.1. This development has also caused Adani to fall to the 25th position on the list of the world’s billionaires.
While Adani Transmission and Adani Total Gas Limited shares are currently locked in their lower circuits, shares of other companies such as Adani Enterprises, Adani Green, Adani Ports, ACC, Ambuja Cement, and NDTV are trading in the red.
As of 10 am today, only Adani Power shares were trading in green.
The current trend in Adani stocks is likely to continue and have an impact on Adani’s net worth. This situation is closely being monitored by investors, market analysts, and financial experts.
Meanwhile, the chairman of India’s Reliance Industries Limited (RIL) Mukesh Ambani fell out of the top 10 billionaire list in the world. With a net worth of USD 83.6 billion, he is currently in the 11th position. However, Ambani still not only holds the title of India’s richest person but also the tag of the wealthiest person in Asia.
The current top 10 billionaire list features eight Americans, one from France, and one from Mexico. French businessman Bernard Arnault tops the list with a net worth of $192 billion.
Though Ambani is out of the world’s 100-billion club, his company has expanded in the telecoms and digital space. With his continued success in business, it remains to be seen whether Ambani will make a comeback to the top five billionaire list and 100-billion club in the future.