From winner to top loser: Adani’s net worth slides as stocks dip in early trade

All the stocks of Adani Group were trading in the red in early trade on Monday

Gautam Adani, who holds the 24th position on the world’s billionaire list, experienced a decline in his net worth on Monday due to the drop in his companies’ stocks. Today, he stands out as one of the biggest losers on the global rich list.

This development followed Deloitte’s resignation as the auditor of the Adani Group’s port company. The resignation comes weeks after Deloitte raised concerns about certain transactions flagged in the report from Hindenburg Research.

In a statement, Adani Ports & Special Economic Zone (APSEZ) confirmed the resignation and the appointment of M S K A & Associates as the new auditor.

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As a result of this development, all the stocks of Adani Group were trading in the red in early trade on Monday. The most significant decline is observed in Adani Enterprises shares, which dropped by over four percent.

All Adani Group companies’ stocks trade in the red

The stocks of Adani Group companies that were witnessing a surge in the past few days are now experiencing a reversal, with all of them trading in the red.

Apart from Adani Enterprises, Ambuja Cements, and Adani Transmission are witnessing a dip of more than three percent. Meanwhile, the stocks of Adani Power, Adani Wilmar, Adani Ports, and Adani Total Gas are seeing a dip of more than two percent.

Adani Group companies’ stocks at 10:30 am on Monday

From top loser to winner in the billionaire list

Adani has emerged as one of the top losers, with his net worth dipping today. In just one day, his net worth declined by USD 1.8 billion.

NameCurrent net worth (in billion USD)Change in net worth (in million USD)Change in net worth (in percentage)Country
Tadashi Yanai35.2-750-2.09Japan
Wang Chuanfu18.2-997-5.21China
Chung Yong-ji30.2-1000-97.19South Korea
Gautam Adani52.4-1800-3.32India

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