Mukesh Ambani dethrones Gautam Adani as india’s richest person

New Delhi: Reliance Industries Limited (RIL) chairman Mukesh Ambani has got back the ‘India’s richest man’ crown after dethroning Gautam Adani, founder and chairman of the Adani Group.

Adani overtook Ambani and became India’s richest man a year ago. Now, the chairman has lost the title after losing over USD 50 billion in less than 50 days.

The share prices of the Adani Group dropped after the Hindenburg Research firm published a report on the company.

The Hindenburg Research firm recently published a study that revealed that shares of Adani Group firms could possibly decline from their current levels due to high valuations. Ever since the release of the report against Adani Group, Gautam Adani is losing billions of dollars daily due to drop in his companys’ shares.

Now, Adani is 400 million poorer than Mukesh Ambani after losing over USD 50 billion.

According to Forbes, the net worth of Adani is currently around USD 84 billion whereas Ambani’s net worth is USD 84.4 billion.

Mukesh Ambani moved up to ninth place on the list of the world’s billionaires when Gautam Adani’s net worth dropped by USD 50.2 billion in less than 50 days. Gautam Adani’s net worth to decline from USD 134.2 billion on December 13, 2022, to USD 84 billion on February 1, 2023 after the Hindenburg impact.

Over the past five days, the price of Adani Total Gas shares has dropped by more than 50%. Even NDTV’s stock dropped more than 15% in a single week.

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