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 

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

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

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 total fortune, as a result of the report.