New Delhi: After nearly a year and a half, Hindenburg is making headlines again. In January 2023, Hindenburg’s report caused a stir by targeting the Adani Group. Now the focus has shifted to SEBI Chief Madhabi Puri Buch and her husband Dhaval Buch with the latest report addressing them.
Hindenburg on Saturday night released a report accusing SEBI Chief Madhabi Buch and her husband Dhaval Buch of having connections to the alleged Adani scandal. The American short-seller firm, Hindenburg Research cited documents claiming that Madhabi Buch and her husband held stakes in the offshore fund with significant investments from Vinod Adani, Gautam Adani's brother.
Several serious allegations have been made by Hindenburg in its report against SEBI Chairperson Madhabi Puri Buch. One claim suggests that the annual earnings of a company in which Madhabi has a significant stake are higher than her annual salary. Both Madhabi Puri and the Adani Group have dismissed these allegations as baseless. Previously, a similar report from Hindenburg caused significant damage to the Adani Group. Now, let's find out who Hindenburg is.
What is Hindenburg: The Mind Behind the Report?
Hindenburg is an American short-selling firm. The name has a historical connection to an event from 1937 in Germany. At that time, Germany built a commercial passenger airship named the "Hindenburg." On May 6, 1937, the airship flew from Germany to America. It experienced a massive explosion, and within just 30 seconds, it turned into a fireball, resulting in many fatalities. The firm's name is linked to this tragic incident.
What Does Hindenburg Do?
According to its website, Hindenburg is an American short-seller firm that monitors market malpractices and irregularities. The company claims to act like a whistleblower, exposing financial misconduct and inconsistencies within companies. Hindenburg asserts that its revelations help protect market investors from potential losses.
Who Owns Hindenburg Research?
Hindenburg Research was founded in 2017 by Nathan Anderson. A graduate of the University of Connecticut, Nathan started his career as an ambulance driver before launching a data firm called FactSet Research Systems. He later worked with investment management companies. Hindenburg Research has made similar revelations about several companies and earned substantial profits through short selling stocks. The company has released a total of 19 reports on various firms, including the Adani Group.
How Much Does Anderson Earn?
Hindenburg Research makes money through short selling, targeting companies from the U.S. to India. While there is no official information on Nathan Anderson's net worth, estimates suggest he has assets of over 50 million dollars.
150 Billion Dollar Loss for Adani
Last year, Hindenburg released a report against the Adani Group, causing the company's stock prices to plummet. As a result, Adani's companies suffered losses exceeding 150 billion dollars. Gautam Adani's net worth dropped to $80 billion dollar Within just 10 days of the Hindenburg report's release, Gautam Adani fell out of the top 20 billionaires list.
