Gautam Adani, the Indian business magnate and chairman of the Adani Group, has lost his title as Asia’s richest person as his company’s stocks have taken a deep plunge over the past few days. The Adani Group’s stocks have dropped by 25%, causing Adani’s net worth to drop by a staggering $84 billion.

Adani’s wealth has dropped by $36 billion in the span of just three days, leaving many to question who he is and what could have caused such a dramatic change in fortune. Adani is the chairman of the Adani Group, one of India’s largest conglomerates with interests in energy, logistics, agribusiness, real estate, and more. The company’s stocks have been hit by a crossfire between Adani and Hindenburg Research, a U.S. firm that has accused the company of inflating its financials.

To help offset the losses, Adani has launched a share offering to help the company regain some of its lost value. The offering has been backed by a number of India’s billionaires, including Mukesh Ambani and Uday Kotak, who have banded together to help Adani’s company.

This is not the first time that Western banks have made mistakes in investing in Indian companies. In the past, Western banks have invested heavily in Chinese companies, only to later regret their decisions due to the companies’ lack of transparency. As Adani’s company continues to struggle, Western banks must take caution to avoid repeating the same mistakes.

Overall, Gautam Adani has seen a dramatic shift in his fortune over the past few days, losing $84 billion in the process. The Adani Group’s share offering has been backed by a number of India’s billionaires, but Western banks must be wary of repeating the same mistakes they made in the past with Chinese companies.