Hindenburg Research, the US short seller that has targeted several business entities including the Adani Group, is to be dissolved. In a recent update on the Hindenburg website, founder Nate Anderson confirmed that Hindenburg Research will be dissolved.
Nathan Anderson announced that the closure of the firm was a strategic decision made following the successful completion of their investigative projects. In a personal statement, Anderson detailed the achievements of Hindenburg Research and the rationale for ending its operations. He revealed that the shutdown has been in the works for several months, with the team completing final investigations.
In a personal statement, Anderson revealed that he was greatly influenced by a British DJ performing in Bali during a pivotal period. He encouraged his followers to listen to Lee Burridge's music and shared a video of the DJ performing at Omnia Bali for Cercle in Indonesia. Anderson linked a video of a DJ playing music “at Omnia Bali in Indonesia for Cercle.”
He wrote: “If you're chasing something you think you want or need or doubt you're enough, take a minute and listen to this. It had a big impact on me at a crucial moment,” he wrote as a postscript to his lengthy letter on farewell on the Hindenburg Research website with a link to Burridge's YouTube video.
The hour-long DJ set featured Rowee & Lazarusman's 'Brightness'. The text reads: “Define yourself! Know who you are! Define!”
Here's a video that the founder of Hindenburg Research shared in a PS note:
Who is Lee Burridge?
Lee Burridge, born November 1968, is a prominent British DJ and producer who significantly influenced the Hong Kong club scene during the 1990s, according to information obtained from Wikipedia. He was instrumental in founding the famous Neptune's nightclub. Burridge joined the esteemed Tyrant Soundsystem in England alongside DJs Craig Richards and Sasha and regularly performs at the famous Burning Man event. In 2011, he founded the label All Day I Dream, which eventually developed into a successful traveling festival. His latest venture is the launch of spin-off label All Day I Dream in Waves in 2021.
The impact of Hindenburg's research
Anderson founded Hindenburg with only a small amount of capital and no traditional financial knowledge, describing the venture as both fulfilling and challenging. In his 40s, Anderson gained international attention in January 2023 by publishing a report that accused Adani of orchestrating what was described as the biggest fraud in the company's history. The news caused Adani Group's share price to drop significantly by $150 billion. At the time, Adani was ranked as the fourth richest individual in the world according to the Bloomberg Billionaires Index.
Adani shares rebounded after some time. Subsequently, the Supreme Court cleared the Adani Group of any wrongdoing, saying that unverified reports from organizations like OCCRP cannot be considered valid evidence.
Following the event, Hindenburg Research also issued reports on Block Inc., owned by Dorsey, and Icahn Enterprises, owned by Icahn.
