Adani, Musk lost over Rs 2 lakh crore in one day after share prices of their entities tanked at the stock market

Top businessmen Elon Musk of the United States and Gautam Adani of India collectively lost more than Rs 2 lakh crore, in a single day.

According to sources, the pair incurred losses as a result of Monday’s stock market collapse for their companies’ shares.

According to the Bloomberg Billionaires Index, both businessmen’s fortunes experienced significant declines.

The stock market fell for all of Gautam Adani’s companies, including Adani Power, Adani Wilmar, Adani Enterprises, Adani Ports, Adani Green, and Adani Total Gas.

The business tycoon suffered a huge loss as a result of the sharp decline in share prices. The billionaire, 60, lost about $9.67 billion, or Rs. 78,913 crore.

Adani Total Gas Limited’s shares declined by 7.90 per cent to close at Rs 3,076 while Adani Wilmar closed at Rs 717.75. On the other hand, Adani Power declined by 4.00 per cent to settle for Rs 354.85 and Adani Enterprises closed at Rs 3,164.75 after it recorded an 8.42 per cent decline.

Adani Port’s share price closed at Rs 784.95 and shares of Adani Energy were lowered by 7.65 per cent and closed at Rs 2,087.85.

On the other hand, the Index report stated that Musk lost nearly $15.5 million i.e. Rs 1.26 lakh crore after his automotive company, Tesla’s, shares recorded a steep decline of 8.6 per cent, the lowest single-day decline in four months. News agency Reuters reported that the fall in Tesla’s shares depleted $71 billion in the market value of the carmaker.