Hindenburg report is proving too costly for Gautam Adani and his group of companies as his fortune fell sharply on Friday and his ranking in the global rich list came down to 7th spot. Forbes Real Time Billionaire Index showed that Adani’s wealth tumbled by over $18 billion to $100 billion in the opening trading hours of Friday. Hindenburg Research had earlier released a lengthy report that alleged fraud by the Ahmedabad-based group. Gautam Adani-Owned Companies Lose Almost $45 Billion in Market Value After Selloff Sparked by Hindenburg Report on Adani Group.

Gautam Adani Slips to 7th Position in Forbes List:

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