Billionaire Gautam Adani’s Fortune Slips Again After Hindenburg Targets Indian Regulator (2024)

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Billionaire Gautam Adani’s Fortune Slips Again After Hindenburg Targets Indian Regulator (2024)

FAQs

Billionaire Gautam Adani’s Fortune Slips Again After Hindenburg Targets Indian Regulator? ›

Hindenburg disclosed a short position against the Adani Group's listed firms in January 2023 and published a report accusing the conglomerate of engaging in “brazen stock manipulation and accounting fraud scheme over the course of decades.” The report caused Adani's fortune to tank sharply, dropping from a high of $126 ...

What is Adani's response to Hindenburg? ›

The Adani Group on Sunday slammed American short-seller Hindenburg for claiming that the conglomerate had financial links with Sebi chairperson Madhabi Buch and her husband, saying the allegations were malicious, mischievous and manipulative.

What were the key points of the Hindenburg report on Adani? ›

Short Selling in the Hindenburg-Adani Saga:

Hindenburg is a short seller. They published a report in January 2023 accusing the Adani Group of financial irregularities, leading to a significant drop in the company's stock price. Hindenburg likely profited from this by buying back the borrowed shares at a lower price.

How much money did Adani lose after Hindenburg report? ›

Shares of Adani Group companies fell up to 7% leading to investors losing around ₹53,000 crore as the combined market capitalization of 10 Adani stocks falling to ₹16.7 lakh crore.

Why is Gautam Adani not richest in India? ›

Although Adani became the richest Asian in 2022, he lost that position after a critical report by US short-seller Hindenburg Research led to a significant loss in market value for his group's stocks.

What is the Adani Hindenburg dispute? ›

Hindenburg Research, a U.S. investment research firm with a focus on activist short-selling founded by Nathan Anderson in 2017, raise charges against the Gautam Adani-led Adani Group of financial irregularities. Following the release of the report Adani group stocks tanked by up to 10 per cent. January 2023.

What is Adani Hindenburg's matter? ›

On Saturday, Hindenburg sprung a fresh series of allegations, claiming that Sebi chairperson Madhabi Puri Buch and her husband had stakes in offshore funds linked to the Adani Group, among other charges, and implying that this hindered the regulator's investigation.

Who exposed Adani? ›

The Hindenburg report alleged stock manipulation and fraud by the conglomerate. The case is related to the allegations (part of a report by short-seller Hindenburg Research) that Adani had inflated its share prices.

How much did Hindenburg make on Adani short-selling? ›

How much did Hindenburg make from the Adani report? Hindenburg Research made over $4 million from its short-selling position on Adani stocks, according to Bloomberg, which reported earnings figures disclosed in a statement by the firm.

What are 3 theories about the Hindenburg? ›

There have been several hypotheses, from sabotage to a lightning strike to static electricity to an engine breakup, but there is no conclusive evidence for any of them. Most experts favor some kind of electrical spark, especially as the Hindenberg was probably venting hydrogen to reduce buoyancy.

Why did Adani fall today? ›

Shares of Adani Group companies fell up to 7% following allegations against Sebi chief Madhabi Buch in the Adani-Hindenburg controversy. The market capitalization of Adani's 10 stocks dropped significantly, resulting in investor losses.

How true is Hindenburg report on Adani? ›

“In the context of allegations made in the Hindenburg Report dated August 10, 2024 against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book.

Has Adani recovered from Hindenburg? ›

At least four out of 10 Adani group stocks namely Adani Power Ltd, Adani Ports and Special Economic Zone Ltd, Ambuja Cements Ltd and ACC Ltd had recovered fully from the Hindenburg Research's January 2023 allegations of fraud and brazen stock price manipulation by the Adani group, before the US-based short seller came ...

Who is richest, Adani or Ambani? ›

Gautam Adani, the Founder and Chairman of the Adani Group, has surpassed Mukesh Ambani, Chairman of Reliance Industries, as the richest person in Asia, as per a report by Bloomberg Billionaires Index.

Who is the richest person in Asia 2024? ›

The Top 10 Richest People in Asia
Rank & NameCountryNet Worth (in USD Billions)
#1 Mukesh AmbaniIndia113.5
#2 Gautam AdaniIndia85.7
#3 Prajogo PangestuIndonesia61.8
#4 Zhong ShanshanChina59.3
6 more rows
Jun 24, 2024

Who is the no. 1 richest person in India today? ›

1. Mukesh Ambani. At 66, Mukesh Ambani boasts an impressive net worth of $110.9 billion, placing him at the pinnacle of India's wealth hierarchy. As the Managing Director and Chairman of Reliance Industries, Ambani oversees a vast enterprise generating revenues surpassing Rs 8 lakh crore ($104 billion).

How much Hindenburg made shorting Adani? ›

How much did Hindenburg make? Nathan Anderson's Hindenburg short-sell trade position based on charges about the Adani Group of companies resulted in a nearly $153 billion wipe-off of the companies' market value. Hindenburg made just over $4 million from it.

What is the relationship between the Hindenburg and the Adani? ›

In January 2023, Hindenburg released a report alleging improper use of tax havens and stock manipulation by Adani Group, setting off a $150 billion selloff in the conglomerate's stocks despite its denials of wrongdoing. The stocks have since recovered partially.

What was said when the Hindenburg went down? ›

Oh, it's crashing . . . oh, four or five hundred feet into the sky, and it's a terrific crash, ladies and gentlemen. There's smoke, and there's flames, now, and the frame is crashing to the ground, not quite to the mooring mast. Oh, the humanity, and all the passengers screaming around here!

What was the fiasco of the Adani Hindenburg? ›

Hindenburg fiasco

Hindenburg, in a report, accused the group of stock manipulation and improper use of tax havens triggering a sell-off in Gautam Adani's ports-to-power conglomerate.

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