The net worth of Adani Group, chairman, Gautam Adani has decreased by ₹1.03 lakh crore this year from January 1, 2025 until now. In the list of the world's richest people, Gautam Adani's net worth has fallen the most after Elon Musk. According to the Bloomberg Billionaires Index, Adani is ranked 23rd with a wealth of ₹5.8 lakh crore. Meanwhile, the net worth of Tesla and SpaceX owner Elon Musk has decreased by ₹3.05 lakh crore this year. Musk's net worth has fallen to ₹34.4 lakh crore. However, Musk still remains the richest person in the world. Adani's net worth decreased after fraud allegations Last year, in the US, Adani and 8 others were accused of fraud worth billions of rupees. According to the allegations, Adani Group's company had acquired renewable energy projects in India through improper means. Adani was also accused of bribing government officials with $250 million, approximately ₹2,200 crore. Additionally, the accused collected money from American investors and banks. This entire matter was related to Adani Green Energy Limited and another firm. This case was filed in the Federal Court of New York on October 24, 2024. Adani's net worth had fallen by ₹1 lakh crore After this news broke out, Adani's net worth has decreased by ₹1.02 lakh crore. Meanwhile, Kenya canceled the deal with the Indian conglomerate for power transmission and airport expansion. Both deals were worth ₹21,422 crore. Controversies related to Gautam Adani: First Controversy: Hindenburg Research accused of money laundering: This came out in January 2023. Gautam Adani's flagship company, Adani Enterprises, had announced a follow-on public offer of ₹20,000 crore. This offer was to open on January 27, 2023, but just before that, on January 24, 2023, the US based ex-short seller Hindenburg Research released a report accusing the Adani Group of money laundering and share manipulation. By January 25, the market value of the shares had decreased by about $12 billion (approximately ₹1 lakh crore). However, the billionaire had denied any wrongdoing. Moreover, the Adani Group had also canceled its ₹20,000 crore FPO. The Supreme Court had formed a 6-member committee to investigate the case, and SEBI also investigated the matter. After the court's decision, the billionaire entrepreneur said, 'The court's decision shows that truth has prevailed. Satyamev Jayate. I am grateful to those who stood by us. Our contribution to India's growth story will continue. Jai Hind.' Second Controversy: Accusation of Selling Low-Grade Coal as High-Grade
A month ago, the Financial Times, citing a report of the Organized Crime and Corruption Reporting Project, claimed that in January 2014, the Adani Group had allegedly purchased 'low-grade' coal from an Indonesian company at a price of $28 (approximately ₹2,360) per ton. The report alleged that this shipment was sold to the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) under the pretext of high-quality coal at an average price of $91.91 (approximately ₹7,750) per ton.