Gautam Adani

Gautam Adani’s net worth continued to take a beating as the shares of listed Adani Group companies traded deeply in the red. After falling to the seventh place on the Forbes Billionaire list, the business tycoon lost $8.21 billion dollars on Monday, bringing his position on the list down to number 11.

Adani-Hindenburg row: "These adverse developments are likely to reduce the group's ability to raise capital to fund committed capex or refinance maturing debt over the next 1-2 years," Moody's said.

The earnest money deposits of all four applications requesting 5G radio waves total Rs 21,800 crore, which is much more than the Rs 13,475 crore put in the 2021 auction when three participants competed.

Karan Adani, the elder son of billionaire Gautam Adani, is taking over as the Chair of ACC — the cement major with Rs 16,151 crore in revenue. He holds a degree in Economics from Purdue University, started his corporate career at Mundra port -- the first mega project undertaken by the Adani group.