Reported 6 months ago
Gautam Adani's wealth plummeted by nearly $25 billion, the biggest one-day drop for an Asian billionaire, following Narendra Modi's party's underwhelming election win, which dashed hopes of a landslide victory. All 10 Adani Group stocks fell, wiping out around $45 billion in market value. This loss surpassed the impact from previous allegations and left Adani as Asia's richest person. The decline highlights the close tie between Adani's conglomerate's fortunes and Modi's leadership, with investor sentiment highly influenced by the election outcome.
Source: YAHOO