Net Worth of Gautam Adani Crashing as Rout Reaches $50 Billion Mark

Due to a news report given by a US short seller, Hindenburg research, Gautam Adani’s business Empire seems to be dealing with multiple financial issues as the business’s estimated value keeps dropping. The rout which is created due to this is rapidly eating away at the net worth of Adani and is severely messing up investor relations within his flagship company Adani Enterprises. The losses did not stop when Adani disputed the claims put out by Hindenburg research; rather, they accelerated at an alarming rate.

The advancement Adani Enterprises had seen in the last five years was so much that it even eclipsed the advances made by Elon Musk’s company Tesla Inc. This was a major factor that resulted in Adani being catapulted into becoming one of the richest men in the world. But due to this particular report, the wealth amassed by Adani managed to dip below the hundred billion dollar mark, estimated somewhere around 97 billion dollars currently, Estimating a drop of about 15% from the close made on Wednesday.

But even with the success Adani has seen, there still are massive questions raised pertaining to the finances within his conglomerate. Many experts said that the finances in Adani’s business are extremely overleveraged, and the balance sheets for his companies are deeply stretched. But with the Hindenburg report, a massive spotlight was shown on the corporate governance that Adani’s company practised, with a passive jab taken at the corporate governance scene in India as a whole.

Hindenburg proceeded with releasing a report on the 24th of January, explaining in detail about the corporate malpractice that was running rampant within Adani’s conglomerate. Adani group itself is looking at the legal avenues it can pursue because, according to them, the report itself is absolutely false in nature and has done nothing but cause trouble for the conglomerate itself. Meanwhile, Hindenburg research completely stands by the report it has published and says that any legal action taken against it will only prove to be fruitless.

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