Adani Fallen To 11th Place In The World Richest People List

Gautam Shantilal Adani
Gautam Shantilal Adani

According to the Bloomberg Billionaires Index, Adani's net worth has fallen by $3.4 billion in the last 3 trading days. And now he is in 11th place among the World's richest people.

A research report published by New Delhi-based American research firm Hindenburg Research last Wednesday accused 7 major companies including Adani Group were involved in various frauds, including falsely showing their financial stability, deceiving the stock market and profiting from it, creating shell companies abroad and engaging in illegal money transactions through them. 

In response to the report, Adani Group's share price fell in the stock market. Gautam Adani's Adani Group shares continue to fall. Due to this, Gautam Adhani's place in the list of the world's richest people is facing continuous decline. 

Adani's assets slipped to eighth place from seventh place after Adani Group shares traded sharply lower for a third straight day on Monday.  Adani's net worth fell another $8.5 billion to $88.2 billion during Monday's trade, dropping him to eighth place in the world's richest man's list released by Forbes.

Adani was ranked second among the world's richest people when the Adani Group's shares experienced a massive rally last year. Even after that, Adani stayed in the third position for the longest time. Reliance founder Mukesh Ambani is ranked 11th on the richest list with a net worth of $83 billion. 

Currently, the difference in net worth between Ambani and Adani is just $4 billion. As of now, Adani's total assets stand at $84.4 billion. He has been pushed from 2nd place to 11th place on the list of the world's richest people. Mukesh Ambani is in the 12th position on this list.

Gautam Adani has been dropped from the list of the top 10 richest people in the world. He has been pushed down to 11th place in the list of the richest people according to the Bloomberg list due to the Hindenburg organization's series of allegations. Next to him is Mukesh Ambani.