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Adani Loses Billionaire Race, Slips to 15th Spot on Global Rich List

Gautam Adani has slipped down the ranks of the richest people in the world! He has slipped from the 10th spot on the Forbes Real-time billionaire list for 2023 to the 15th spot. Adani’s current net worth is USD 75.1 billion, compared to earlier in the day when it was USD 83.9 billion.

It was a rather unexpected shift in fortunes for Adani as Reliance Industries Chairman Mukesh Ambani overtook Adani to become the richest Indian in the world with a net worth of USD 84.3 billion. Ambani’s wealth increased by 0.19 per cent with an increase of USD 164 million, while Adani’s assets had gone down by 4.62 per cent, making his wealth pegged at USD 84.1 billion according to the real-time tracker of Forbes at 5 pm EST on Tuesday.

This comes following a report by US short-seller Hindenburg Research on the Adani Group alleging a decades-long fraud scheme, “brazen accounting fraud, stock manipulation and money laundering.”

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