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New Delhi: Adani Group chairman Gautam Adani has further slipped to the 15th spot on the Forbes Real-time billionaire list for 2023 on Wednesday just after he was at the 10th spot on the coveted list. Adani’s current net worth is $75.1 billion compared to $83.9 billion earlier in the day, according to the Forbes list. Reliance Industries Chairman Mukesh Ambani has overtaken Gautam Adani to become the richest Indian with a net worth of $84.3 billion, according to the Forbes Real-time billionaire list for 2023 earlier in the day.
Ambani overtook Adani after the Reliance Industries Chairman’s assets went up 0.19 per cent with an increase of wealth by $164 million while Gautam Adani’s assets had gone down by 4.62 per cent with the industrialist’s wealth pegged at $84.1 billion according to the real-time tracker of Forbes of 5 pm EST on Tuesday.
Once figured among the top three billionaires in the world, Adani has dropped in the ranking to number 10 just below Mukesh Ambani. At the top of the list is French luxury fashion giant LMVH’s Bernard Arnault, thus becoming the world’s richest person.
This comes following a report by US short-seller Hindenburg Research on the Adani Group alleging a decades-long fraud scheme, “brazen accounting fraud, stock manipulation, and money laundering.”
Shares of Adani Group firms fell on Wednesday morning trade. However, the key market indices opened with gains as investors’ sentiments were boosted over Union Budget expectations.
Shares of Adani Enterprises, the flagship firm of the group, fell 3.02 per cent to Rs 2,880.20 apiece on the BSE. In a span of five days, the shares were down 15 per cent. Adani Green declined 3.82 per cent to Rs 1,177.15 apiece and the shares had fallen about 38 per cent in a span of five days.
(With agency inputs)
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