Hindenburg Research, the US-based short seller that had targeted several trading entities, including the Adani group, is to be dissolved. In a recent update on the Hindenburg website, founder Nate Anderson confirmed that Hindenburg Research would be disbanding.

Nathan Anderson announced that the closure of the company was a strategic decision made following the successful completion of its research projects. In a personal statement, Anderson detailed the achievements of Hindenburg Research and the rationale for ending its operations. He revealed that the shutdown had been in the works for several months, with the team finalizing their final 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 the Circle in Indonesia. Anderson linked a video of the DJ playing music “at the Omnia Bali in Indonesia for the Circle.”

He wrote: “If you’re chasing something you think you want or need, or doubting whether you’re enough, take a minute and listen. It had a huge impact on me at a crucial time,” he wrote as in a postscript to his lengthy farewell note on the Hindenburg Research website with a link to Burridge’s YouTube video.

An hour-long DJ set included a piece of ‘Brightness’ by musician Rowee & Lazarusman. The lyrics read, “Define yourself! You know who you are! Define!”

Here’s the video that the founder of Hindenburg Research 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 Hong Kong club scene during the 1990s, according to information from Wikipedia. He played a fundamental role in the creation of the renowned nightclub Neptune’s. Burridge joined the beloved 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 label All Day I Dream, which eventually became a successful touring festival. His latest venture includes the launch of spin-off record label All Day I Dream in Waves in 2021.

Impact of Hindenburg Research

Anderson founded Hindenburg with only a small amount of capital and no traditional financial experience, citing the venture as both satisfying and challenging. Anderson, 40, gained international attention in January 2023 when he published a report accusing Adani of orchestrating what was described as the biggest scam in the company’s history. This report led to a significant drop of $150 billion in Adani Group’s share prices. At the time, Adani was ranked as the fourth richest person in the world according to the Bloomberg Billionaires Index.

Adani shares recovered after some time. The Supreme Court later cleared the Adani group of any wrongdoing, stating that unverified reports from organizations such as the OCCRP cannot be considered valid evidence.

Following this event, Hindenburg Research also issued reports on Dorsey-owned Block Inc. and Icahn-owned Icahn Enterprises.