Billionaires List: Gautam Adani slipped to number 25 in the list of the rich, the group's market cap below $ 100 billion

Posted on 20th Feb 2023 05:54 pm by rohit kumar

The wealth of Gautam Adani, head of the Adani Group, which is involved in the business from ports to power, has come down to $ 50 billion. According to the data of the Bloomberg Billionaire Index on Monday, February 20, Gautam Adani's assets are $ 49.1 billion and he has come at number 25 on the list of the world's rich. On the other hand, according to the Forbes Real Time Billionaire List, Gautam Adani is number 25 with a net worth of $47.6 billion.

 

The wealth gap between Gautam Adani and Reliance Industries (RIL) chairman Mukesh Ambani is also increasing. According to the Bloomberg Billionaires Index, Mukesh Ambani is ranked 11th in the global rich list with a net worth of $83.6 billion. However, according to the Forbes Real Time Billionaires list, Ambani is in the 8th position with a net worth of $86 billion.

 

Shares of Adani Group Adani Green Energy, Adani Total Gas, Adani Transmission, and Adani Enterprises needed a respective 410 percent rise to hit their 52-week highs. Currently, Adani Green Energy's share is trading at Rs 606.45 on the Bombay Stock Exchange on Monday, while Adani Total Gas' share is trading at Rs 925.10. On the other hand, shares of Adani Transmission and Adani Enterprises are trading at Rs 873.90 and Rs 1,623.65 per share, respectively, on BSE in early trade on Monday.

 

Adani Group's market cap reached below $ 100 billion

The market capitalization (MCAP) of billionaire Gautam Adani-led Adani Group fell below $100 billion on Monday. Since the release of the Hindenburg Research report in late January, Adani Group shares have lost over $135 billion in market cap.

 

The group's market cap was $ 290 billion in September last year, which has declined by about $ 200 billion so far.

 

Selling continued in most of the group's shares on Monday (20 February 2023). Shares of Adani Enterprises, the flagship company of the group, declined by 9.4 percent.

 

Also Read: Dunzo Layoffs: Layoffs continue in startup companies, Google-backed Dunzo lays off 3% employees

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