Gautam Adani exits the 20 richest people in the world; stands at no. 22

Industrialist Gautam Adani dropped to No. 22 on Forbes' real-time list of billionaires on Friday.

Gautam Adani's wealth decreased by 21.77% or $16.2 billion.

At 13:23 (IST) on Friday, the industrial company had a net worth of $581.1 billion, while Reliance Industries owner Mukesh Ambani's net worth was $82 billion.

Reliance Industries chairman Mukesh Ambani beat him on Wednesday, and Gautam Adani slipped to number 10 on Forbes' real-time list of billionaires in 2023, only to drop further to number 15 on Thursday.

According to Forbes, Ambani on Thursday morning surpassed Adani to become the richest Indian in the world with a net worth of $84.3 billion.

However, at the top of the list is Bernard Arnault, the founder, and CEO of French luxury fashion giant Louis Vuitton.

However, these figures are constantly changing. Adani's personal wealth is expected to grow as his shares rise.

Following an investigation into Adani's group by US short-seller Hindenburg Research, which alleged a decade-long fraud scheme, "brazen accounting fraud, stock manipulation, and money laundering", Gautam Adani's position on the Forbes list dropped.

Shares of Adani Enterprises, the parent company of the Adani Group, fell 27.47% to Rs 1,143.50 per share on Friday morning, according to BSE data.

It lost over Rs 1,926.55 or over 62% in just five sessions as per data available now.