India Richest Man: India’s richest man is not Adani at all, who got the new title? – mssewb.org

India’s Richest Man: If 2022 is considered to be the year of Gautam Adani, then 2023 has not started well for Adani. Because in January, the ruler of the Adani empire suffered a terrible shock. His net worth was $120 billion as of mid-January. But by early February, that amount had practically halved. Forbes Real Time Data says Adani has current assets of $68 billion. Adani’s assets fell by $20 billion on Wednesday as well. As a result, he has come down to number 16 in the list of richest people. Besides, the title of India’s richest person has also been lost.

Who is the richest person in India?

Mukesh Ambani is currently the richest person in the country. The Reliance boss has regained his lost crown. He has also entered the top 10 in the world’s richest list. Mukesh Ambani has a net worth of $82 billion. On the one hand, while Adani’s assets are shrinking, Mukesh Ambani has retained his own assets. As a result, he is currently the richest person in the world.

Why Adani’s property is decreasing?

Adani’s assets are decreasing day by day. This trend started from January 24. Basically, Adani’s shares took a big hit when the report of the American company Hindenburg Research came out. Due to which Adani’s property amount is decreasing. All Adani Group stocks are in red zone for last 5 days. Adani Gas is the worst among them. The price of this stock has fallen by almost 50 percent.

What was claimed in the Hindenburg Research report?

A report by American firm Hindenburg Research claimed that the Adani Group had rigged and inflated the prices of listed stocks in the stock market. It is said that all 7 Adani Group companies have 85 percent negative trend. After the report came out, the fear of the investors increased. As a result, the share selling spree started.

All stocks of Adani are in the red zone in the stock market on Thursday as well. The only exception to this is the recently acquired Ambuja Cement stock. Shares of Adani Green Energy, Adani Total Gas, Adani Transmission are down 10 percent as of 11:20 am on Thursday. In the next few hours, the situation is likely to get worse.