Gautam Adani, Elon Musk lose over Rs 2 lakh crore in one day, Tesla owner remains richest man
Gautam Adani, Elon Musk lost over Rs 2 lakh crore in one day after share prices of their entities tanked at the stock market on Monday.
Gautam Adani, Elon Musk lost nearly USD 25 million in one day.
Top Indian businessman Gautam Adani and American business magnate Elon Musk lost around $25 million i.e. over Rs 2 lakh crore in one day. As per reports, the duo suffered losses after their companies’ shares tanked on the stock markets on Monday.
The Bloomberg Billionaires Index reported notable losses in both businessmen’ wealth.
Gautam Adani’s entities, including Adani Power, Adani Wilmar, Adani Enterprises, Adani Ports, Adani Green and Adani Total Gas, crashed on the stock market. The rapid fall in share prices led to an enormous loss for the business tycoon. The 60-year-old businessman lost nearly $9.67 billion i.e. Rs 78,913 crore.
Adani Total Gas Limited’s shares declined by 7.90 per cent to close at Rs 3,076 while Adani Wilmar closed at Rs 717.75. On the other hand, Adani Power declined by 4.00 per cent to settle for Rs 354.85 and Adani Enterprises closed at Rs 3,164.75 after it recorded an 8.42 per cent decline.
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Adani Port’s share price closed at Rs 784.95 and shares of Adani Energy were lowered by 7.65 per cent and closed at Rs 2,087.85.
On the other hand, the Index report stated that Musk lost nearly $15.5 million i.e. Rs 1.26 lakh crore after his automotive company, Tesla’s, shares recorded a steep decline of 8.6 per cent, the lowest single-day decline in four months. News agency Reuters reported that the fall in Tesla’s shares depleted $71 billion in the market value of the carmaker.
It may be noted that, despite the colossal losses, Musk continues to be the richest man in the world. At present, Adani is the fourth wealthiest person in the world after Amazon founder Jeff Bezos and Bernard Arnault, the Louis Vuitton chairman.
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