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After a $48 billion drop in Adani Group stock value, MSCI is investigating the market's response to the Hindenburg report on the conglomerate's companies. The report led to a 20% decline in Adani firms' shares and pushed the billionaire Gautam Adani's wealth below $100 billion. This drastic fall in wealth caused him to drop from the world's third richest to the seventh spot, undoing his recent success as his business empire expanded rapidly. The report raised doubts about Adani's business practices, impacting the group's eligibility in global investable market indexes.
