Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raising questions about some offshore investors triggered a rout in his conglomerate’s six listed stocks.

The 58-year-old tycoon lost more money this week than anyone else in the world, with his personal fortune tumbling by about $9bn  to $67.6bn, according to the Bloomberg Billionaires Index based on Wednesday closing prices. Just days ago, he was closing the gap with Mukesh Ambani as Asia’s richest man. Adani Group stocks continued to fall on Thursday...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.