Gautam Adani falls off the List of World’s Top 10 Richest People  

New Delhi: Gautam Adani is no more placed in the list of the world’s top 10 richest people, reported Bloomberg stated. According to the Bloomberg Billionaires Index, India’s Gautam Adani was earlier in the fourth position on the list.

On Tuesday morning, shares of most of the Adani Group firms showed a decline. They fell continuously for the fourth day running. Concerns over the US-based short seller Hindenburg Research’s report on Adani Group triggered this downfall of Adani Group shares.

Hindenburg released the report on January 24. It was the day on which Adani Enterprises’ Rs 20,000-crore follow-on share sale opened for investors.

Following Hindenburg report, which made several allegations against the Adani Group, including fraudulent transactions and share price manipulation, Adani Group stocks took a beating on the bourses.

Adani Group has rejected the Hindenburg report.

For the fourth day running, shares of Adani Total Gas fell 10 per cent, Adani Green Energy tumbled 9.60 per cent, Adani Transmission tanked 8.62 per cent, Adani Wilmar (5 per cent), Adani Power (4.98 per cent), NDTV (4.98 per cent) and Adani Ports (1.45 per cent) on the BSE.