Gautam Adani is not Richest Indian in World Anymore
According to Forbes' Real-time Billionaires list, Reliance Industries Chairman and Managing Dir
ector Mukesh Ambani has surpassed industrialist Gautam Adani
The Adani Group, owned by billionaire Gautam Adani, allegedly "eng
aged in a brazen stock manipulation
accounting fraud scheme over the course of decades," according to the Hi
which caused Adani's fortune to plummet.
Adani group lost more than USD 50 billion in market value in just two trading sessions
as a result of the report by the tiny New York firm that specialises in short selling
Adani himself lost more than USD 20 billion, or roughly one-fifth of his to
tal fortune, as a result of the report.