How The Billionaire's Empire Lost $100bn In Days
Adani Enterprises announced Wednesday that it would return $2.5 billion (£2 billion) to investors.
Mr. Adani has stated that "our existing operations and future plans" will not be altered by the decisi
This action concludes a dramatic week that started with an American investment firm acc
using companies in the Adani Group of fraud.
However, the market value of the group's
companies has fallen by $108bn over the past few days.
Mr. Adani has lost $48 billion of his own fortune and has dropped to the 16th spot on F
orbes' real-time list of the world's billionaires.
Mr. Adani was the third richest person in the world less than two weeks ago.
His ports-to-energy conglomerate, Adani Enterprises, was set to launch India's largest secondary share offering on