Hindenburg
What is Hindenburg’s research?
Hindenburg Research is a financial research firm that analyses equity, credit, and derivatives market data. Nathan Anderson founded the company in 2017. Hindenburg Research also manages hedge funds. It is well-known for making public disclosures about corporate activities. The company’s name is derived from the 1937 Hindenburg disaster, in which a German passenger airship caught fire and killed 35 people.
The company investigates whether there has been any money misappropriation in the stock market. Is there any evidence of corporate account mismanagement? Is the company not endangering the shares of other companies by placing incorrect bets in the stock market for its gain?
What is included in Hindenburg’s recent report?
Hindenburg published a 32,000-word report on the Adani Group on January 25. The report’s findings included 88 questions. According to the report, the group has been engaged in stock manipulation and account fraud for decades. According to the report, Adani Group founder Gautam Adani’s wealth has increased by $1 billion to $120 billion in three years due to rising share prices. During this time, the shares of the group’s seven companies increased by an average of 819 percent.
Gautam Adani lost $34 billion in three days
Gautam Adani, Asia’s richest man, has suffered massive losses as a result of the Hindenburg report revelations. In three days, his group companies have lost $34 billion.
Gautam Adani is out of the list top 10 rich
Gautam Adani has fallen out of the top ten richest people in the Bloomberg Billionaires Index. Adani has fallen from fourth to eleventh place in the Billionaires Index, and shares in his group companies continue to fall. Gautam Adani is expected to lose his title as Asia’s richest person soon.
Gautam Adani’s current net worth
Gautam Adani’s net worth is now $84.4 billion. He is now only one rung above Reliance Industries owner Mukesh Ambani. The total value of Ambani’s assets is $ 82.2 billion.
Adani Group’s stock declined
Adani Green Energy, Adani Total Gas, and Adani Transmission all saw a 20% drop in trading on January 25. Apart from that, Adani Enterprises lost 18 percent, Ambuja Cement lost 16 percent, Adani Ports lost 15 percent, ACC lost 12 percent, and Adani Wilmar and Adani Power lost 5-5 percent.
Allegations made against Adani Group
According to the Hindenburg report, ‘how did the world’s third richest person carry out the biggest corporate fraud?’ The Adani Group is accused of manipulating the market value of companies through fraud, according to the report. Let us know the allegations made by the company.
- Adani Group companies manipulated share prices and committed accounting fraud.
- Adani Group has worked to reduce its tax burden by establishing numerous subsidiaries abroad.
- There are numerous benami companies in tax haven countries such as Mauritius and the Caribbean islands that own stakes in Adani Group companies.
- Adani’s listed companies are heavily indebted, which has put the entire group in an untenable financial position.
- The price of the company’s shares is being told to be as high as 85 percent due to the high valuation.
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