The humbling of Gautam Adani is a test for Indian capitalism
The biggest tycoons need the sternest scrutiny
It took a little over seven days for a corporate titan to be cut down to size. Only weeks ago Gautam Adani was the world’s third-richest man and the self-proclaimed Rockefeller of India. Then a short-seller questioned his company’s finances, investors took fright and $100bn in market value evaporated. Tens of billions have been wiped off the tycoon’s personal wealth. Today the company is racing to show it can meet its debt payments.
This article appeared in the Leaders section of the print edition under the headline “The parable of Adani”
Leaders February 11th 2023
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- The humbling of Gautam Adani is a test for Indian capitalism
From the February 11th 2023 edition
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