He is not quite like one-time crypto wunderkind Sam Bankman-Fried or Archegos Capital Management's Bill Hwang, who went from tens of billions to nothing in a flash as their leveraged trades imploded. After all, even after a share price collapse in the wake of Hindenburg Research's short-seller report, Mr Adani oversees a sprawling conglomerate that builds capital-intensive infrastructure, such as ports and airports, in line with Indian Prime Minister Narendra Modi's development goals.
His wealth drop is far bigger than that of Brazil's Mr Eike Batista, who similarly used his commodities empire to build national infrastructure like shipyards and ports with support from the government. It took Mr Batista about a year to lose his entire US$35 billion fortune, becoming known as the first "negative billionaire".
هذه القصة مأخوذة من طبعة February 04, 2023 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 04, 2023 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Many old faces retain key posts in Modi's new Cabinet
Indian Prime Minister Narendra Modi’s new coalition government on June 10 appointed Ms Nirmala Sitharaman as finance minister for a second consecutive term, the government said in a statement.
PANG PERSISTS FOR S'PORE VICTORY
Endurance propels I7-year-old to maiden Tour win at rain-delayed Ladies Masters
MBAPPE WILL BE UNSTOPPABLE: CISSE
Les Bleus captain back to his best with club future settled, says former France forward
SUPERSUB WEGHORST DELIVERS
Striker continues to shine on the big stage, scoring 83rd-minute winner against Poland
Ashwath, 8, wants to be one of youngest grandmasters
Having become the youngest player to beat a grandmaster recently, eight-year-old Ashwath Kaushik has set his sights on attaining chess’ highest rank soon.
BOL RELISHES 'NICE BATTLE' AT OLYMPICS
She seeks best form for highly anticipated hurdles race against McLaughlin-Levrone
GHALIB DOWNS THE MONKEY
Up-and-coming 4YO rolls hot favourite after ace rider Nunes stacks up the speed in front
Less meat on menus and fewer new venues: How the Olympics are trying to go green
Paris event organisers pledge to halve greenhouse gas emissions from London and Rio levels.
Investing in sustainability offers long-term opportunities: GIC
It sees prospects for market growth, better returns even as climate change risks rise
Bitcoin miners pivot to South-east Asia after China crackdown
The 6.9ha cement slab in the middle of a Borneo industrial area once belonged to a logging company. Long ago, that business abandoned the site to the elements, leaving just rudimentary structures and a four-storey concrete birdhouse made to lure swiftlets whose nests, built with saliva, fetch high prices in China.