Gautam Adani not Asia's 2nd richest any more after stock market rout

Suffering a rout in the stock markets this week, Adani Group Chairman Gautam Adani has lost the coveted tag of being Asias second richest billionaire.

Adani has lost over $12 billion in just four days after concerns over FPI ownership.

Adani's net worth has come down to $62.7 billion from $74.9 billion at the beginning of this week, according to Forbes Real Time Billionaires index.

Chinese pharmaceutical magnet Zhong Shanshan has reclaimed his position of Asia's second richest man after Reliance Industries Chairman Mukesh Ambani.

Shanshan's wealth stood at $68.9 billion while Ambani's was at $85.6 billion in the rich list.

Shares of Adani Enterprises, Adani Power, Adani Total Gas, Adani Transmission, Adani Ports and Adani Green Energy started falling on Monday after reports on FPI ownership.

Adani's lost almost $12 billion in four days, according to the Forbes Real-Time Billionaires list, which tracks the wealth of the world's richest people. At the beginning of the week, Adani's net worth was just above $77 billion.

--IANS

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