The total net worth of the world’s third richest person, Gautam Adani, fell by nearly $6 billion after Hindenburg group disclosed a short position against his group of companies.
disclosing its short position, Hindenburg alleged that the Adani group of companies had “engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.”
Other Adani Group-listed companies also fared poorly with food company Adani Wilmar stock dropping nearly 5%, Adani Power by 4.7%, Adani Transmission by 5.19%, Adani Total Gas by 4.77% and Adani Green Energy by 3.55.
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