Gautam Adani drops out of World's top 20 richest people; ranks 22nd now

Industrialist Gautam Adani slipped out of the World' Real-time Billionaires list of Forbes on Friday and was placed in 22nd position.

Gautam Adani's wealth had declined 21.77% or USD 16.2 billion.

At 01:23 pm (IST) on Friday, the industrialist's net worth was USD 581.1 billion, while Mukesh Ambani, the owner of Reliance Industries, had a USD 82 billion net worth.

Mukesh Ambani

After being passed by Mukesh Ambani, the chairman of Reliance Industries, on Wednesday, Gautam Adani fell to the 10th slot on the Forbes Real-time Billionaires list for 2023, but he fell even more on Thursday, moving up to the 15th position.

According to Forbes, Ambani passed Adani on Thursday morning to take the title of richest Indian in the world with a net worth of USD 84.3 billion.

Bernard Arnault

However, at the top of the list is French luxury fashion giant Louis Vuitton's founder and CEO Bernard Arnault.

These numbers, however, are continually changing. Adani's personal fortune is anticipated to increase along with a gain in his stock.

Following a study by US short-seller Hindenburg Research on the Adani Group alleging a decade-long fraud plan, "brazen accounting fraud, stock manipulation, and money laundering," Gautam Adani's ranking on the Forbes list dropped.

The shares of Adani Enterprises, the parent company of the Adani Group, were down 27.47% to Rs 1,143.50 per share on Friday morning, according to data from the BSE.

According to data that is currently accessible, it has lost more than Rs 1,926.55 or more than 62% in just five sessions.