Gautam Adani reached number 3 to 38 in the list of rich in 1 month, assets decreased by Rs 6.88 lakh crore

New Delhi. The troubles of Indian industrialist Gautam Adani do not seem to end. There has been a huge decline in the shares of Adani Group companies since the report of American research firm and short shelling company Hindenburg Report. This has affected the net worth of Gautam Adani. In the list of the world’s top rich, he has reached the 38th position from the third position in a month. Gautam Adani’s total assets have decreased by Rs 6.88 lakh crore ($ 85 billion) in a month. Now his net worth is reduced to $33.4 billion.

According to Forbes’ Realtime Billionaires Index on Monday, Gautam Adani has reached the 38th position in the list of rich. Hindenburg’s report came on 23 January. At that time Adani’s total assets were 119 billion dollars. After the publication of this report in America, there was an earthquake in the shares of companies of Gautam Adani Group. This phase of decline has not stopped even after a month.

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Within 15 days of the Hindenburg report, Adani was out of the list of top 10 rich. Then he dropped out of the top 20 list. Today Gautam Adani has also dropped out of the list of top 30. At the same time, Gautam Adani has now slipped to the 30th position in the Bloomberg Billionaires Index. According to Bloomberg Index, Gautam Adani’s net worth is $40 billion.

JPMorgan’s investment unit sold Adani’s shares
The asset management unit of veteran financial services company JP Morgan (JPMorgan) has sold its investment in Adani Group through ESG fund. According to a Bloomberg report, JP Morgan’s Asset Management Unit has sold 70,000 shares of Adani Group company ACC Limited.

The report states that several large investment firms such as BlackRock Inc., Deutsche Bank AG’s fund management unit, DWS Group, continue to invest in Adani shares in ESG funds, which track indices given by MSCI. Bloomberg data shows that JP Morgan, which once held 0.04 per cent stake in ACC, now has no investment in any of the Adani Group companies through ESG funds.

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Tags: Adani Group, business news in hindi, Forbes, Gautam Adani