Lowest Indian billionaire loses $13 billion in 4 days

Indian billionaire Gautam Adani's dreams of joining the list of the world's rich have faltered after the sharp decline in the share prices of his six companies listed on the stock exchange this week.

The 58-year-old Indian billionaire lost more than any other person in the world during the past days, as the value of his personal wealth declined by about 13.2 billion dollars to reach 63.5 billion dollars, according to the Bloomberg Agency for World Billionaires Index.

And Bloomberg News Agency indicated that Adani had succeeded a few days ago in narrowing the difference in wealth between him and the Indian billionaire Mukesh Ambani, the richest person in Asia.

Today, Friday, the share prices of 4 of the six Adani companies registered in the stock exchange declined, to continue their decline for the fifth day in a row.

The shares of Adani companies began to decline last Monday, after the Indian Economic Times published a report on the freezing of the accounts of 6 investment funds based in Mauritius, due to insufficient information about their owners.

The bulk of the shares held by the three funds, worth about $6 billion, were shares in Adani companies.

Despite the Adani Group's denial of the press report, accusing it of deliberately misleading the investment community in India, investors rushed to dispose of the companies' shares on the stock exchange, which led to a sharp decline in their prices.