Just a few days after being crowned the richest person in India, Gautam Adani has now slipped back again on the list.

What Happened: As per the Bloomberg Billionaire’s Index, Adani is now worth $97.5 billion (8.13 lakh crore). A drop of around $24.9 billion (₹2.07 lakh crore) in a day. The slide comes as several Adani Group stocks saw a thrashing at the bourses on Tuesday as the BJP fell short of the majority mark.

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Mukesh Ambani, on the other hand, is now worth around $106 billion. His wealth also took a significant hit decreasing by around $8.99 billion (₹75,041 crore), thanks to the rout in the Indian markets on Wednesday. He is now the 11th richest person on the planet. Adani has now slipped to number 15.

Markets At Open Today: Indian equity benchmark indices opened on a positive note on Wednesday following the market turmoil on Tuesday, which was triggered by Lok Sabha results showing the Narendra Modi-led NDA securing fewer seats than predicted.

Most Adani Group stocks were crashing heavily in the red. Shares of Reliance Industries were also volatile.

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