Adani Enterprises, RIL, DMart: Gautam Adani, Mukesh Ambani, Radhakishan Damani are 3 worst-hit billionaires in 2023 so far

Gautam Adani, Mukesh Ambani and Radhakishan Damani are three worst-hit billionaires year-to-date, as per publicly available Bloomberg Billionaire list. Gautam Adani, who leads Adani Enterprises Ltd and nine other Adani group companies, has lost $80.60 billion in notional wealth so far and is the worst hit among the 500 richest globally. He is followed by Reliance group's Mukesh Ambani, who has seen $5.38 billion erosion in notional wealth. Avenue Supermarts (DMart Ltd) owner Radhakishan Damani has lost $2.67 billion in his fortunes, data showed.

Gautam Adani, who saw his worth getting eroded by nearly three-fourth since September 2022, is now worth less than $40 billion at $39.9 billion, thanks to a fall in group shares including Adani Total Gas, Adani Green Energy Limited and Adani Transmission Limited. His fortunes are now almost half of Mukesh Ambani's $81.7 billion wealth. Radhakishan Damani is worth $16.7 billion.

Gautam Adani

In the case of Adani, all of his 10 group stocks have taken a severe beating following allegations of stock manipulation and accounting fraud by Hindenburg Research. In fact, seven top BSE500 losers since January 24 are Adani group shares.

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As per Friday's closing, Adani Total Gas Limited (down 81 per cent), Adani Green Energy Limited (down 75 per cent), Adani Transmission Limited (down 74 per cent) and Adani Enterprises Limited (down 61 per cent) were the worst hit group stocks since January 24. On year-to-date basis, these stocks have fallen up to 79 per cent.

Mukesh Ambani

In the case of Mukesh Ambani, shares of flagship Reliance Industries have fallen 7.35 per cent so far this year against a 2.79 per cent drop in the BSE Sensex. RIIL, Den Networks, Hathway Cable & Datacom, Just Dial Limited and Network 18 are other listed group stocks that have fallen quite a bit in 2023 so far. RIIL (down 14.3 per cent), Network 18 Media & Investments (down 13.42 per cent), Hathway Cable & Datacom (down 13.35 per cent) and Den Networks (down 13.17 per cent) have all fallen in double digits this year.

Radhakishan Damani

Shares of Avenue Supermarts, on the other hand, have plunged 14 per cent so far this year. Promoter group including Damani and his family, owned 74.99 stake in Avenue Supermarts as of December 31. As per publicly available data with Trendlyne, Damani held Rs 1,58,274.70 crore worth 15 stocks. His equity portfolio stood at 1.84 lakh crore as of December 31. VST Industries (down 3.92 per cent YTD), India Cements (down 14.97 per cent), Trent (down 3 per cent) and Sundaram Finance (flat) are some of his other stock holdings as per Trendlyne.

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