 "Hindenburg Research, which cost Gautam Adani billions, was shut down")
American short-selling firm Hindenburg Research has closed. Company founder Nathan Anderson himself has announced this. The company published a report in January 2023 that leveled several allegations against the Adani Group. The Adani Group had denied the allegations but it led to a sharp decline in the group’s market cap. Anderson has not disclosed the reasons for closing the company, but the decision comes as Donald Trump is set to become president on January 20.
Hindenburg Research, notorious for its short-selling activities, caused huge losses to several billionaires besides Adani. Company founder Nathan Anderson made the announcement on January 15. ‘Since the end of last year, I have shared with family, friends and our team that I have decided to disband Hindenburg Research,’ Anderson said. He said there was a plan to shut down the company after completing the investigation. The firm recently completed its final projects related to Ponzi schemes. Since then the exploration activities of the company have ended.
Adani suffered huge losses
In India, Hindenburg Research hit the headlines in January 2023 when it presented a report on the Adani Group, the country’s third largest conglomerate. In it, several allegations were leveled against the group, including manipulation of share prices. The group denied the allegations but this led to a sharp decline in the Adani Group’s shares. However, since then the group has largely recouped this loss. Anderson’s announcement to close Hindenburg Research is shocking. Recently, a member of the US House Judiciary Committee and a Republican lawmaker requested the Department of Justice to preserve all documents and communications related to the investigation of Adani and his companies. Anderson did not give a reason for closing Hindenburg Research, but the decision comes as Donald Trump returns to the White House in a few days.
Anderson said of the decision to close Hindenburg Research that “it’s nothing special – no special danger, no health problems and no major personal issues. Someone once told me that at a certain time A successful career becomes a selfish pursuit.’ He said that he had to make many sacrifices in his personal career. In an interview, he said he had saved enough money to further his financial security. He also hinted at investing in low-risk investments in the future.