After Adani bombshell, Hindenburg signals ‘another big one’2 min read 23 Mar 2023, 07:11 AM IST
Gautam Adani's conglomerate suffered a loss of over $120 billion since Hindenburg had released its report on January 24.
Gautam Adani’s fortune was reduced to $53 billion from a peak of over $150 billion in September 2022 as a result of the stock market crash following the release of a Hindenburg report, and he was pushed outside the top 35 on Forbes' list of the world's richest people. His conglomerate suffered a loss of over $120 billion. In addition to raising worries about rising debt, the Hindenburg Research study on January 24 suggested unlawful use of offshore tax havens and stock manipulation.
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