Gautam Adani is not Richest Indian in World Anymore

According to Forbes' Real-time Billionaires list, Reliance Industries Chairman and Managing Director Mukesh Ambani has surpassed industrialist Gautam Adani

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The Adani Group, owned by billionaire Gautam Adani, allegedly "engaged in a brazen stock manipulation

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accounting fraud scheme over the course of decades," according to the Hindenburg report

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which caused Adani's fortune to plummet.

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Adani group lost more than USD 50 billion in market value in just two trading sessions

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as a result of the report by the tiny New York firm that specialises in short selling

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Adani himself lost more than USD 20 billion, or roughly one-fifth of his total fortune, as a result of the report.

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