Gautam Adani Out Of Top 10 Richest List, Loses Asia Title

Before the critical report by U.S. short-seller Hindenburg Research, Gautam Adani had ranked third.

Billionaire Gautam Adani lost his title as Asia's richest person on Wednesday as his conglomerate plunged again in the wake of a US short-seller report.

Wednesday's stock losses saw Mr Adani slip to 15th on the Forbes rich list with an estimated net worth of $76.8 billion.

Before the critical report by U.S. short-seller Hindenburg, Mr Adani had ranked third.

The rout has wiped out around $92 billion of the value of the conglomerate's listed units since last week, Bloomberg News said. The industrialist's personal fortune has plummeted by more than $40 billion in the same period.