Hindenburg, which messed with Adani Group, shuts down, founder announces closure

Hindenburg Research, a well-known US short selling firm, which made headlines by making serious allegations against Gautam Adani, is now going to shut down. The company's founder Nathan Anderson has announced this. Nathan Anderson wrote in his message that I had shared with my family, friends and our team at the end of last year that I am deciding to shut down Hindenburg Research.

After completing the plans we had made, it had to be closed. Today, after sharing the last matters with the regulators, that day has come

Hindenburg Research Company is going to close

The founder of Hindenburg told about his journey, struggle and successes through an emotional X post. Anderson wrote in the note, the plan was to shut it down after completing the ideas we were working on, that day is today. Since its inception in 2017, Hindenburg Research has earned a name for exposing fraud, corruption and mismanagement in the industry.

Anderson shared about the firm's achievements. He credited the support of his family, friends and a dedicated team of 11 people for turning Hindenburg into a powerhouse of financial investigation.

Sharing his initial struggles, Anderson said that he started the firm without any financial background. At that time, he had neither financial resources nor connections with the industry.

Nathan Anderson wrote in a note

I have decided to dissolve Hindenburg Research. The plan was to close it as soon as the ideas we were working on were completed. I am writing all this happily. It has been my life's dream to build it. I did not know initially whether it would be possible to find a satisfactory way. It was not an easy option. But I was drawn towards it like a magnet.

'We shook some empires with our work'

The Hindenburg Research founder said that we all worked very hard, focusing on accuracy and basing our words on evidence. Sometimes this meant taking big blows and fighting battles that were bigger than any one of us. Fraud, corruption and negativity often felt overwhelming. While a sense of justice was usually elusive in the beginning, it was extremely satisfying when it happened. It kept us going when we needed it.

Ultimately, we had an impact with our work - more than I initially thought. Nearly 100 individuals have been charged with civil or criminal charges by regulators, at least in part through our work. Including billionaires and oligarchs, we shook some empires that we needed to shake.

Why did he decide to close it?

Nathan Anderson wrote, "There is nothing special. There is no special danger, no health problem and no major personal issue. Someone once told me that at a certain point a successful career becomes a selfish act." Initially I felt I needed to prove some things to myself. Now I am finally at ease with myself, perhaps for the first time in my life.

I am looking forward to spending time with my family, pursuing my hobbies and traveling. I have earned money for them. I am planning to invest my money in index funds and things that give less stress. Right now, I am concentrating on ensuring that all of my team members reach the place where they want to move forward.

'We just trust the truth'

Anderson wrote that over time people began to see what I hoped we could show: that it is possible to have an impact, no matter who you are. We are not fearless, we just have faith in the truth and hope it leads us on the right path. I am grateful for that, we have had days of bizarre, hilarious and ridiculous stories and we have had a lot of fun amidst the pressure and challenges.

Also Read: Saif Ali Khan's attacker identified, police said - entered with the intention of theft

Summary

Hindenburg Research's reports had caused billions of dollars in losses to several companies, including India's Adani Group and Icahn Enterprises. In August 2024, Hindenburg claimed in its report that SEBI chief Madhabi Puri Buch and her husband Dhawal Buch have stakes in an offshore company linked to the Adani Group.