Tolivelugu Crime Bureau: Somewhere in America is a small short-seller Hindenburg. A big blow has hit Gautam Adani, the prominent billionaire of the biggest democracy, India. His largest business empire was destroyed. Adani was once one of the Kuberas of the world. About a month ago, he was the third richest person in the world with a wealth of 120 billion dollars. This industrial giant, who had grown to dominate even foreign investors by making huge investments in every key sector and project in India and bringing everything under his control, has now collapsed. The Hindenburg Research Institute is going crazy.
Adani’s business was depressed daily after he revealed the fraud and manipulations in the stock market by the small company Aggiravva in his report and all the company’s shares went down. As of Monday, Adani’s wealth had fallen to just under $50 billion, according to Bloomberg Index. To be precise, it is now estimated at 49.1 billion dollars.
The Hindenburg report, which startled the Indian stock market, gave a big shock to the listed companies of the Adani group. Seven companies headed by him are burning bare. It announced in the meantime that it would make payments to investors before the September 2024 deadline, as well as early repayment of $500 million in loans to some foreign banks, but those assurances failed to ease investors’ fears. The dark shadows of suspicion continue to haunt them. It remains to be seen whether this dissolution of Adani’s assets will affect the Indian stock market more than the wealth of Mukesh Ambani, who is in 11th place with a total of 83.6 billion dollars.