Business Tycoon Gautam Adani Loses The Most Money This Week
- ByStartupStory | June 19, 2021
Indian billionaire Gautam Adani loses the most money this week, stopping him in his dream run in the global wealth rankings. Soon after the media started questioning certain offshore investigators, it triggered a rout in his amalgamation of six listed stocks.
Adani’s personal fortune had a crushing fall of about $13.2 billion to $63.5 billion, as was reported by Bloomberg Billionaires Index. Adani Group has, however, called out the news to be absolutely erroneous. Adani was almost closing on Asia’s richest man Mukesh Ambani, until several media houses started reporting India’s national share depository froze the accounts of three Mauritius based funds because sufficient information could not be provided about the owners.
Albula Investment Fund, Cresta Fund and APMS Investment Fund closed off and thus Adani loses the most money this week, because he had about $6 billion shares of those funds. The Mauritius offshore funds hold more than 90% of their assets under the Adani group of companies.
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