No stopping the erosion of Adani's fortunes, yet another big deal slips through the cracks

Indian tycoon Gautam Adani's woes are not abating. On January 24, 2023, they are facing heavy losses every day since the publication of the Hindenburg report by the American research firm. Not only that, one deal after another is also slipping out of their hands. Within a month, Adani has slipped from second to fourth, then 10th, then 20th and then 25th on the list of billionaires. Along with this, he has also left the list of top-25 richest people in the world.

Out of the list of top-25 richest people in Forbes index
According to the Forbes Real Time Billionaires Index, Gautam Adani suffered a major setback yesterday and lost over $6 billion in wealth. Shares of all 10 of its companies traded in the red mark once again during trading in the stock market.

The deal with this company was cancelled
Gautam Adani's net worth is continuously decreasing, on the other hand, one after another big deal has been canceled from his hands. With the move taken by him, the deal he was about to complete is also getting out of hand. More recently related to Orient Cement. According to a report, CK Birla Group company Orient Cement has canceled its deal with Adani Power Maharashtra.

The fall in stocks brought his net worth to $43.4 billion
The biggest decliners were in Adani Enterprises and Adani Ports shares. The fall in stocks saw his net worth drop to $43.4 billion, and he slipped one more place to No. 26 on the rich list.

Two deals canceled following Wikipedia report
After Hindenburg, Adani's woes have increased following the Wikipedia report. Adani has scrapped two deals, forcing it to put the brakes on its growth plans due to a sharp decline in share value. Wikipedia has accused Adani of writing about the Adani Group on various platforms for almost a decade. As per Wikipedia claims Sak Puppet is used for this. According to the report, more than 40 sock puppets or anonymous paid writers wrote nine articles or published research articles on the Adani family and its family businesses.

11,62,087 crore loss in market cap of Adani Group companies in 20 days

Company Name	Market Capitalization	Market Capitalization	What an erosion
-	24 , Jan. 2023	22 , Feb. 2023	(in Rs. Crores)
Adani Enterprises	Rs.3 , 92 , 474	Rs.1 , 60 , 153	- Rs.2 , 32 , 321
Adani Port SEZ	Rs.1 , 64 , 354	Rs.1 , 18 , 127	-Rs.46 , 227
Adani Power Ltd.	Rs.1 , 05 , 988	Rs.62 , 714.0	-Rs.43 , 274
Adani Transmission	Rs.3 , 07 , 446	Rs.87 , 985.0	-Rs. 2 , 19 , 461
Adani Green Eng	Rs.3 , 03 , 113	Rs.85 , 426.0	-Rs. 2 , 17 , 687
Adani Total Gas	Rs.4 , 27 , 325	Rs.91 , 828.0	-Rs. 3 , 35 , 497
Adani Wilmar Ltd.	Rs.74491.00	Rs.50 , 732.0	- Rs.23,759 _
Ambuja Cement	Rs.98 , 994.00	Rs.66 , 628.0	-Rs.32 , 366
ACC LTD.	Rs.43 , 871.00	Rs.32 , 906.0	-Rs. 10 , 965
NDTV LTD.	Rs.1831.00	Rs.1302.00	- Rs.529
Total market cap.	Rs.19 , 19 , 888	Rs.7,57,801 _ _ _ _	-Rs. 11 , 62 , 087