Gautam Adani’s net worth has been slipping downstream since the release of the Hindenburg report on Jan 24. The Billionaire’s net worth plummeted from an estimation of $119 billion to $33.4 billion (according to Forbes’ real-time tracker) in a month. The source of the businessman’s wealth is his ownership stakes in the Adani Group of companies.
Shares of his seven publicly listed companies have seen extreme volatility often hitting the lower circuits. The companies that have lost the most are Adani Total Gas -81%, Adani Green Energy -75%, Adani Transmission -74% and Adani Enterprises -61% from January 24 as reported by Business Today. Though the shares have seen massive corrections, it remains to see if they can recover as the free-float of the shares is limited compared to the holdings of the promoters (Gautam Adani and Associates) and institutional investors.
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