Gautam Adani drops out of world's top 20 richest people list amid Hindenburg row

Industrialist Gautam Adani dropped out of the top 20 richest people on Forbes' World's Real-time Billionaires list, landing at the 22nd position on Friday.

Gautam Adani's wealth fell by 21.77 percent or $16.2 billion. The industrialist's current net worth was $581.1 billion as of 1:23 pm (IST) on Friday afternoon, while Mukesh Ambani's Reliance Industries net worth was $82 billion. Adani Group chairman Gautam Adani, who was ranked 10th on the Forbes Real-time billionaires list for 2023 on Thursday after being overtaken by Reliance Industries chairman Ambani on Wednesday, further slipped to 15th on the list.

On Thursday morning, Ambani overtook Adani to become the richest Indian in the world with a net worth of US$84.3 billion, according to reports. However, at the top of the list is the founder and CEO of French luxury fashion giant Louis Vuitton, Bernard Arnault. However, these values ​​are constantly fluctuating. Adani's personal wealth is also expected to grow if Adani's stock gains.Gautam Adani's fall from the Forbes list follows a report on the Adani group by US short seller Hindenburg Research, which alleges a decades-long fraud scheme, "brazen accounting fraud, stock manipulation and money laundering".

Shares of Adani Group's flagship company, Adani Enterprises, fell 27.47 percent to Rs 1,143.50 apiece on Friday morning, according to data available on BSE. It lost more than Rs 1,926.55 or fell more than 62 percent in just five sessions, according to available data.