The group of companies of one of the world’s richest people, Adani Enterprises, does not come to rest after a critical report by a US short seller: shares in the Indian conglomerate of billionaire Gautam Adani slipped by 20 percent on Friday. Other listed companies in the group also lost sharply. Collectively, seven companies in the conglomerate have wiped out a total of $48 billion in market capitalization as of Wednesday. The Indian banking index was also hit by the wheels because investors fear the impact on banks that have lent to the conglomerate. According to the business magazine Forbes, Gautam Adani is now seventh in the list of the richest people. Before the shares in his group crashed, he was still in third place. US short seller Hindenburg Research had expressed doubts about the conglomerate’s debt and asset figures in a report.
Serious allegations – short seller against billionaire – economy
