“Most Adani shares continue bloodbath as Asia’s richest man loses $28 billion in a month”
January 30, 2023
“Founder Gautam Adani, the richest man in Asia and once second only to Elon Musk, fell out of the world’s top five richest to seventh place on the Bloomberg’s Billionaire Index.
His net worth fell $27.9 billion year-to-date, the index showed. It peaked at $150 billion on Sept. 20, 2022, before falling to to $92.7 billion as of last week’s close, according to the index…”
https://www.cnbc.com/2023/01/30/adani-shares-hindenburg-report.html
Rich people make their money during recessions & depressions. How much his assets drop in value does not matter. What matters is how many / much assets [in this case stocks] he buys after the correction in the market.
If he has more assets after the recession he’s more rich not less. Long story short Adani losing 28 billion may not be true.