Gautam Adani now no longer among world's top 10 richest billionaires

Published On: Tuesday, January 31, 2023 | By:

Gautam Adani now no longer among world's top 10 richest billionaires

Gautam Adani has slipped out of the list of the world's top 10 richest people and could soon be supplanted as Asia's wealthiest person if shares in his conglomerate continue to slide. Currently, his net worth stands at $84.4 billion. Bernard Arnault is the richest person on the earth with a net worth of $189 billion. The Indian tycoon has fallen from fourth place to 11th on the Bloomberg Billionaires Index, with a personal wealth wipeout of $34 billion in just three trading days. Mukesh Ambani ranks 12th, one spot behind Adani in the list with a net worth of $82.2 billion. Adani now languishes below Mexico's Carlos Slim, Google co-founder Sergey Brin and former Microsoft CEO Steve Ballmer on the Billionaires Index. In the last 24 hours, Adani's net worth has fallen $8.21 billion, the highest among the top 100 billionaires on the list. In 2023 alone, he lost $36.1 billion.

Adani's net worth has slipped primarily after the release of a report by US-based short-seller Hindenburg Research. According to the report, the Adani conglomerate has been using malpractices to raise the valuation and some of the group stocks were 'overpriced' by over 80 percent.

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