Recently, Hindenburg posted a report on his social media account X. In this report, it was stated that Swiss authorities have seized more than $310 million in Swiss bank accounts as part of the investigation into money laundering and securities fraud related to Adani. After which a fall was observed in 7 shares of the Adani Group. The effect of this was visible on Adani’s wealth. It is not the first time that Hindenburg has made a new claim on Adani and Adani’s shares were not affected. Sometimes it looked higher and sometimes lower. But Adani never made much of a difference in the rich list in a year. For a long time he was among the top 15 billionaires in the world. For some time, his wealth reached over $100 billion.
This time he has been dealt a double blow. One thing is that Gautam Adani has been left out of the elite group whose net worth amounts to $100 billion or more. Moreover, he has also been left out of the list of the top 15 billionaires in the world. Which had started on Thursday itself. While there was an increase in his wealth, he has fallen one place to 16th. But the people of the country had hoped that the ranking would improve, but now he has dropped two more places. And he has become the 18th richest man in the world. Now the biggest danger is that Adani could be left out of the top 20 list.
In fact, the downward trend in both Adani’s wealth and ranking has been especially observed since September. What is special is that in the last 45 days, $12 billion i.e. more than one lakh crore rupees has been lost from Adani’s wealth. This means that Rs 2.63 lakh crore has been reduced from Gautam Adani’s net worth every second since August 1. Let us also tell you how much Adani’s wealth has shrunk on Friday and what is his total net worth at present.
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Adani’s wealth declines
Due to the fall of 7 Adani Group stocks on Friday, there was also a decline in wealth. According to the data of Bloomberg Billionaires Index, there was a decrease of $1.47 billion i.e. more than Rs 12 billion from Gautam Adani’s total net worth. After which his total net worth reached $98.8 billion. However, in the current year Adani’s total net worth increased by 17.2 percent i.e. $14.5 billion. Due to which there has been a decline in his ranking and he has reached the 18th position.
Below $100 billion after 100 days
What is special is that Gautam Adani has fallen below the $100 billion mark after about 100 years. As of June 5, 2024, Gautam Adani’s total net worth was $97.5 billion. While on June 3, Gautam Adani’s net worth had reached $122 billion. This means that during that period Adani’s net worth suffered a loss of about $25 billion. This was the time when the results of the Lok Sabha elections in the country were announced and the shares of the Adani Group plummeted.
Loss of Rs 2.63 lakh per second in one and a half months
If we talk about the last one and a half months, then Gautam Adani’s net worth is losing Rs 2.63 lakh per second. In fact, on August 1, Gautam Adani’s wealth stood at $111 billion. Which has come down to $98.8 billion at present. This means that during this period Adani’s net worth has decreased by $12.2 billion i.e. more than one lakh crore rupees. If we calculate this per second, we come to Rs 2.63 lakh.
Will Adani be left out of the top 20?
Today, Gautam Adani is the 18th richest businessman in the world. While two or three years ago he was included in the list of the world’s 15 largest billionaires. Due to the continuous fall in stocks, the biggest danger now is that we will fall out of the top 20. Will the Fed meeting in the coming days decide what the stock market trend will be? In fact, the market has digested the Federal Reserve’s estimate of a 0.25 percent rate cut. The good mood of the market will depend on two things: whether the Fed cuts it by more than 0.25 percent? Secondly, the reduction should be only 0.25 percent, but the pro-cut stance should be seen at the November meeting. If the stock market rises, Adani’s net worth will also increase, otherwise there may be losses.
Political events will also decide
On the other hand, the country is holding Lok Sabha elections in many important states in the fourth quarter of the calendar year. In which the election dates of Haryana and Jammu Kashmir have been decided. While the election dates of Jharkhand and Maharashtra are about to be announced. Three out of four states are very important. If the BJP wins in five election states, it will cause a huge boom in the stock market. The shares of Adani Group will also rise a lot. Otherwise, the loss can also be huge.
