NEW DELHI: Gautam Adani, promoter of Adani Group and India’s second richest billionaire, has lost his position in the world’s billionaires’ list after losing a whopping $18.8 billion in less than 20 days. The stocks of Adani’s group firms have been on the sliding path since June 14.
The investors have been shying away from the stock following a report that the National Securities Depository Limited (NSDL) had frozen the accounts of foreign investment firms which had stakes worth Rs 43,500 crore in Adani’s four listed companies — Adani Enterprises, Adani Green Energy, Adani Total Gas and Adani Transmission.
Adani’s notional wealth stood at $56.1 billion on Friday, down from $74.9 billion at the beginning of June 14, according to Forbes Real time Billionaires index.
Due to this plunge, Adani has slipped out of the top 20 global billionaires’ list.
On Friday alone, Gautam Adani’s wealth fell $3.7 billion after 4 Group company stocks fell around 5% each on the BSE.
At present, Adani is at 22nd place on the list and Ma Huateng, chairman of internet giant Tencent Holdings, overtook him on Friday.
Meanwhile, Relaince Industry Ltd head Mukesh Ambani added $700 million to his wealth on Friday.
With $81.1 billion, Ambani continues to remain Asia’s richest billionaire.
Adani Group had termed the reports of account freezing as “blatantly erroneous” and a deliberate attempt to mislead the investors.