Amid the investigation in the United States and accusations by the Securities and Exchange Commission (SEC), there has been a sharp fall in the shares of Gautam Adani’s listed companies in the stock market. Due to this, while on one hand the market capitalization of the Adani Group has decreased, on the other hand Gautam Adani’s net worth has also been negatively affected. Due to his declining wealth, the Adani Group chairman has fallen four places to 21st place in the list of the world’s top billionaires. Please let us know how much loss you suffered.
Adani’s net worth decreased so much in shock.
After the alleged $265 million (around Rs 2,200 crore) bribery case levied on Gautam Adani in the United States, shares of his companies fell drastically. These allegations were made to secure a solar contract for his company Adani Green Energy. hand it over to Indian officials. According to the Bloomberg Billionaires Index, the stock decline also affected Gautam Adani’s net worth and it has now dropped to $70.8 billion. In the last 24 hours, Adani’s wealth has reduced by $1.19 billion (Rs 10,000 crore).
Got here on the list of billionaires.
The impact of this decline in wealth has also been seen in the ranking of Gautam Adani, who is among the world’s top billionaires. Until recently or before the US indictments, Indian billionaire Gautam Adani was ranked 18th on the list, but has now fallen to 21st. In his place, Mexican billionaire Carlos Slim Helú has become the 18th richest person. of the world.
Gautam Adani receives a summons from the United States
Meanwhile, if we talk about the latest updates in the Adani bribery case, according to the PTI report, the United States Securities Exchange Commission i.e. the SEC has issued a summons to the chairman of the Adani Group , Gautam Adani, and his nephew, Sagar Adani, give their response. in the case of bribery within 21 days. It has also been said in the report that this summons has been sent to the SEC to respond to Gautam Adani’s Shantivan farm in Ahmedabad and his nephew Sagar Adani’s Bodakdev residence in the same city.
The tsunami came even after the Hindenburg report
It is noteworthy that at the beginning of last year 2023, that is, in the same month of January, a bomb exploded against Gautam Adani from the United States, after which there was a huge decrease in his wealth. In fact, on January 24, 2023, American short-seller firm Hindenburg published a research report on Adani Group, which asked 88 questions about company stock and lending manipulation. Even after the publication of this report, Gautam Adani had to suffer huge losses. For one thing, while the Adani Group’s market capitalization had decreased by $150 billion, its net worth had also decreased by more than $60 billion.
7 people involved in US charges
Let us tell you that during the hearing in the Federal Court in New York, Gautam Adani’s company has been accused of defrauding investors in the United States and paying huge bribes to Indian officials to secure a solar energy contract. It is alleged that between 2020 and 2024, a bribe of $265 million (around Rs 2,236 crore) was given to Indian officials through the wrong route to take this solar project to Adani Green and Azure Power Global.
Not only this, the bribery matter was hidden from the American company i.e. Azure Power Global. Through this contract, a profit of more than two billion dollars was estimated in 20 years. The US Department of Justice and the SEC have named seven people charged in this case, including Gautam Adani and his nephew Sagar Adani.
