Hindenburg Research, the US-based short seller that had targeted several business entities including the Adani Group, is going to be disbanded. In a recent update on the Hindenburg website, Founder Nate Anderson confirmed that Hindenburg Research will be disbanded.
Nathan Anderson announced that the closure of the firm was a strategic decision made after the successful completion of their investigative projects. In a personal statement, Anderson detailed the achievements of Hindenburg Research and the rationale behind ending its operations. He disclosed that the shutdown had been in the works for several months, with the team finalising their last investigations.
In a personal statement, Anderson revealed that a British DJ performing in Bali greatly influenced him during a crucial 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 the DJ playing music “at Omnia Bali in Indonesia for Cercle”.
He wrote: “If you are chasing something you think you want or need, or are doubting whether you are enough, take a minute and give this a listen. It had a big impact on me at a pivotal time,” he wrote as a postscript to his lengthy goodbye note on the Hindenburg Research website with a link to Burridge’s video on YouTube.
An hour-long DJ set included a piece from musician Rowee & Lazarusman’s ‘Brightness’. The lyrics go, “Define yourself! Know who you are! Define!”
Here’s the video that the Hindenburg Research founder shared in the PS note:
Who is Lee Burridge
Born in November 1968, Lee Burridge is a prominent British DJ and producer who made a significant impact on the club scene in Hong Kong during the 1990s, according to information sourced from Wikipedia. He played a vital role in the establishment of the renowned nightclub Neptune’s. Burridge went on to join the esteemed Tyrant Soundsystem in England, alongside DJs Craig Richards and Sasha, and has been a regular performer at the famous Burning Man event. In 2011, he founded the All Day I Dream label, which eventually evolved into a successful touring festival. His latest venture includes the launch of the spin-off record label All Day I Dream in Waves in 2021.
Hindenburg Research’s impact
Anderson founded Hindenburg with only a small amount of capital and without traditional financial expertise, citing the venture as both fulfilling and challenging. At 40 years old, Anderson gained international attention in January 2023 by releasing a report that accused Adani of orchestrating what was labeled as the biggest scam in corporate history. This report caused a significant $150 billion drop in Adani Group’s stock prices. At the time, Adani was ranked as the fourth wealthiest individual in the world according to the Bloomberg Billionaires Index.
The stocks of Adani rebounded after some time. Subsequently, the Supreme Court cleared the Adani group of any wrongdoing, stating that unverified reports from organizations like the OCCRP cannot be considered as valid evidence.
Following this event, Hindenburg Research also issued reports on Block Inc., owned by Dorsey, and Icahn Enterprises, owned by Icahn.