India's tycoon Adani Group was hit by a sniper and its vitality was injured, affecting a Hong Kong family implicated all over the world?

The Adani Group, owned by Indian billionaire Gautam Adani, was attacked by a short seller, causing the company's share price to plummet.

Not only has Adani’s net worth shrunk, according to Bloomberg, the impact of the incident goes far beyond India, but also includes giants and companies in the United States, France, the Middle East, and even Hong Kong.

The incident began when the well-known short-selling agency Hindenburg Research (Hindenburg Research) issued a report on January 24, accusing Adani Group of fraudulent activities for many years, including using shell companies to manipulate stock prices, and seriously exaggerating corporate valuations.

After the report was released, the prices of the seven listed companies of the Adani Group plummeted. As a result, Adani's net worth shrank by 58 billion yuan in just 6 trading days, and it lost its position as the richest man in Asia.

The picture shows Indian tycoon Adani (Gautam Adani) attending a company event on January 31, 2023 (Reuters)

Bloomberg pointed out on the 3rd that the impact of this turmoil goes far beyond India, and the article lists some giants and companies facing this crisis:

．

Wilmar International, controlled by the "Asian Sugar King", Malaysian and Hong Kong entrepreneur Guo Henian, is a long-term partner of Adani, and the joint venture between the two parties, Adani Wilmar Ltd., is one of them. Fast-growing packaged food company in India, selling flour, sugar and other foods.

After the outbreak of the crisis, the share price of Adani Wilmar in India also plummeted, down more than 30% from a month ago.

Wilmar International responded this week that the short-selling agency Hindenburg's report did not raise any specific issues related to this independently managed joint venture, and they intend to continue to support the company.

．

The retail giant Walmart (Walmart) founded by the wealthy Waltons family in the United States has a cooperative relationship with Flipkart, a subsidiary in India, and Adani Logistics Company. According to the cooperation agreement between the two parties, Adani will build a 534,000 square feet in Mumbai. The operations centre, which is leased to Flipkart, will also be in charge of a new data centre, an agreement Adani said at the time would create 2,500 direct jobs and thousands of indirect jobs.

Adani, the Indian coal and infrastructure tycoon, became the second richest person in the world last September with a net worth of US$147 billion.

(Official website picture)

．

EdgeConneX, a data center services firm owned by private equity firm EQT AB, formed a joint venture with Adani Group in 2021 to develop data centers in India, touting the use of renewable energy.

EdgeConneX responded that Hindenburg's allegations had no impact on the joint venture.

．

CMA CGM, the world's third largest container shipping company, signed a long-term 15-year agreement with Adani Group in 2017 to build a terminal in India. CMA is headquartered in Marseille, France, and is run by Rodolphe Saade's family.

．

Adani, a joint venture with two Israeli chemical suppliers, the Gadot Group, recently acquired Israel's second-largest port and largest cruise ship hub, winning a $1.2 billion government tender to operate the port .

After Adani Group fell into crisis, Gadot Group has not yet responded.

．

Abu Dhabi International Holdings (IHC) of the United Arab Emirates is one of the important supporters of Adani Group. It has invested nearly 2 billion US dollars in various businesses of Adani Group. The other party’s follow-up share fundraising plan to invest about 400 million US dollars, but Adani canceled the plan this week and returned the funds.

This incident has attracted the attention of Adani Group's many partners around the world, but of course it has an impact on India. Experts worry whether the Adani crisis will further affect the overall situation of India's economy.

The Indian government announced a budget of up to 5.5 trillion on the 1st of this month, including high expenditure on infrastructure construction. Adani is one of the key investors in these infrastructure projects.

India, the country with the most underage brides in the world, cracked down on child marriages and arrested 1,800 men

Footage of 2 foreign tourists killed in Indian avalanche shows skiers screaming and fleeing for their lives