Modi’s Slim Victory Wipes $25 Billion Off Adani’s Wealth in Worst One-Day Rout
- Indian tycoon’s fortune shrinks by $25 billion as stocks slump
- Adani’s empire and Modi are deeply entwined to investors
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For Gautam Adani, an underwhelming election win for Narendra Modi’s party is worse than a short-seller attack.
The Indian tycoon’s wealth tumbled by almost $25 billion Tuesday, the biggest one-day loss for an Asian billionaire ever, after the Modi-led political alliance failed to deliver the landslide electoral victory predicted by exit polls.