Gautam Adani who is losing his net worth ever since the release of the Hindenburg report against the Adani Group is now again out of the world’s top 20 billionaire list after his firms’ stocks started bleeding on Friday.
On the last day of the trading week, most of the group’s stocks are in red due to huge sell-offs. Due to a dip in stocks, the net worth of Adani has gone down and he slipped out of the top 20 billionaire list.
Some of Adani Group companies’ stocks locked in lower circuit
At 11:30 am today, some of them are even locked in their lower circuits. The stocks of Adani Power, Adani Transmission, and Adani Total Gas Limited dipped by almost five percent today.
Apart from them, ACC and NDTV are trading in the red.
Only Adani Enterprises, Adani Ports, and Ambuja Cements are 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 5.9 billion i.e., 9.08 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 |
| Elon Musk | 195.3 | +3800 | +2 | US |
| Bernard Arnault | 213.5 | +2300 | +1.11 | US |
| Klaus-Michael Kuehne | 35.7 | +1700 | +4.88 | Germany |
| Francoise Bettencourt Meyers | 81.2 | +677 | +0.84 | France |
| Lin Muqin | 6.4 | +669 | +11.73 | China |
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 |
| Gautam Adani | 59.1 | -5900 | -9.08 | India |
| Larry Page | 82.6 | -3500 | -4.03 | US |
| Sergey Brin | 79.2 | -3300 | -3.98 | US |
| Zhong Shanshan | 66.9 | -2780 | -2.78 | China |
| Mark Zuckerberg | 63.8 | -1900 | -2.92 | US |
Reason for dip in Adani group stock prices
Though, Adani Group companies were witnessing a huge sell-off ever since the release of the Hindenburg research report, on Tuesday, the stocks rebounded.
Again after a global stock index compiler Morgan Stanley Capital International (MSCI) said that it will cut the weightings of four Adani Group companies, including flagship firm Adani Enterprises, most of the group’s companies start witnessing a drop in the values of their stocks.
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 59.3 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.
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 10th on the world’s billionaire list. His net worth is USD 82.5 billion.
