by Gautam Adani’s companies have misplaced $108 billion in every week, one of many largest wipeouts in India’s historical past, after an explosive report by short-seller Hindenburg Research pressured him to tug a stock sale on the eleventh hour and led some lenders to reject his securities as collateral for shopper trades.
Adani, who final 12 months turned the world’s second-richest man with a $147 billion fortune, has seen his personal private wealth plummet by round $57 billion since Hindenburg accused his firms of fraud to inflate income and inventory costs. After drawing cash from the Middle East and different Indian billionaires to shore up a $2.4 billion share sale, he then abruptly pulled it late Wednesday.
