After Adani companies stock plunged, $4.1 billion wiped off from Gautam Adani’s net worth
After Adani companies stock plunged, $4.1 billion wiped off from Gautam Adani’s net worth

Gautam Adani among the top five billionaires in the world whose wealth eroded today

Adani Enterprises’ Gautam Adani was among the top five billionaires who saw decline in their wealth. According to Forbes real-time billionaires list, Adani’s wealth declined by $ 4.1 billion.

After Adani companies stock plunged today, the wealth of Adani was at $ 70.8 billion, a decline of 5.5 per cent, stated Forbes real-time billionaires list.

Shares of Adani Group companies witnessed a massive drubbing in morning trade on Monday, tumbling up to 25 per cent, amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts that have holdings in some of these firms. Meanwhile, the group stated that accounts of three foreign funds that are among its top shareholders are not frozen and reports to the contrary are "blatantly erroneous and misleading".

Following the statement, shares of some of the group firms witnessed partial recovery from their early losses. Adani Enterprises closed the day 6.26 per cent lower at Rs 1,501.25 and Adani Ports and Special Economic Zone tumbled 8.36 per cent to close at Rs 768.70 on the BSE.

During the morning trade, Adani Enterprises had tanked 24.99 per cent to Rs 1,201.10, while Adani Ports dived 18.75 per cent to Rs 681.50. Among others, Adani Green Energy dipped 4.13 per cent to close at Rs 1,175.95, Adani Total Gas fell 5 per cent to Rs 1,544.55, Adani Transmission declined 5 per cent to Rs 1,517.25 and Adani Power slumped 4.99 per cent to Rs 140.90.

Other billionaires whose net worth declined today as per Forbes’ list are Berkshire Hathaway’s Warren Buffett; BioNTech’s Ugur Sahin; Hexal AG’s Andreas Struengmann and Thomas Struengmann. Adani was the fifth in the list.

In addition, Adani is overtaken by Chinese billionaire Zhong Shanshan, making Adani third richest Asian.

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