In the world’s wealthiest individuals, the name Gautam Adani shines brightly and holds a special place in the richest people list of India. He holds the second position in the list of India’s richest people, trailing only behind Mukesh Ambani. Furthermore, on the global stage, Adani continues to make his mark among the most affluent individuals and widely known after Ambani’s. Here is what everyone should know about Mr. Gautam Adani from his current net worth to upcoming new projects.
Gautam Adani is a prominent Indian industrialist and entrepreneur. He is the founder and chairman of the Adani Group, a conglomerate with interests in various sectors, including infrastructure, energy, ports, and logistics. Adani is known for his significant contributions to the development of critical infrastructure projects in India and is one of the country’s wealthiest individuals after Mukesh Ambani. His leadership and vision have played a pivotal role in shaping India’s economic landscape as well as other dimensions.
Before proceeding further, everyone wants to know how he became a billionaire. Gautam Adani’s full name is Gautam Shantilal Adani was born on 24 June 1962 into a Gujarati jain family. His father Shantilal Adani and his mother Shantaben Adani belonged to Ahmedabad, Gujrat. He is the 7th child among 8 children. His parents came from Tharad, a town in northern Gujarat. His father worked as a small textile merchant. He went to school at Sheth Chimanlal Nagindas Vidyalaya in Ahmedabad. While he started a commerce degree at Gujarat University, he left after the second year because Adani was interested in business, but not in his father’s textile trade.
If we throw light upon his love life, he is married to Priti Adani who is a dentist by profession and leads Adani foundation. They have two successful sons Karan Adani and Jeet Adani respectively.
Step inside the business world
Gautam Adani’s business journey commenced in 1978 when he ventured into the diamond industry in Bombay now officially known as Mumbai. At the age of 16, he left school. He quickly transitioned to diamond trading in 1979 and, by 1982, had already amassed his first million rupees. Returning to his hometown of Ahmedabad in 1982, he joined his brother Mansukhlal’s plastics factory. In 1983, the family enterprise expanded into importing polyvinyl chloride to fulfil the growing demands of its business. The relaxation of import licences by the union government in 1985 was a turning point for the company. This move, combined with the establishment of partnership firms in 1988, facilitated the management of imports and exports. As the 1990s unfolded, Adani’s business thrived further, benefiting from the economic liberalisation policies initiated by Prime Minister P.V. Narasimha Rao’s government in 1991, which spurred rapid industrial growth in India.
Soon after this, there is rapid growth in his career. In 1994, the Government of Gujarat state announced managerial outsourcing of the Mundra Port and in 1995, Adani got the contract. In 1995, he built the first dock. At first, Mundra Port & Special Economic Zone ran it, but later, Adani Ports & SEZ (APSEZ) took over. Now, this company is the biggest private multi-port operator. Mundra Port is India’s biggest private port and can handle about 210 million tons of cargo every year.
In 1996, the power business arm of the Adani Group, Adani Power, was founded by Adani. From 2009 to 2012, he acquired Abbot Point Port in Australia and Carmichael coal mine in Queensland. In 2020, Adani won the world’s largest solar bid by the Solar Energy Corporation of India. In 2022 he was listed in the first rank of Asia’s richest personality, surpassing Mukesh Ambani. Currently, he successfully runs Adani group and holds a different sector worth.
Allegations and Criticisms
Apart from this Adani has faced several allegations and criticisms. In 2023 recently, Adani and his company were accused of stock manipulation by New York based investment firm Hindenburg Research. This caused the ranking of Mr. Adani is the world’s richest personality especially in the business sector. He never pays attention to his criticisms and ignores them wholeheartedly as it makes no sense according to reports.
Gautam Adani and Narendra Modi Relation
Though Adani doesn’t like to share his personal life with the media, but many people know that he’s good friends with the Indian Prime Minister, Narendra Modi, and his political party BJP. Some people think this friendship has led to unfair advantages for Adani’s companies, as they’ve won a lot of government contracts for energy and infrastructure projects. In 2012, there were even accusations that Modi gave Adani and some other business people cheap fuel from a state-run gas company in Gujarat.
Gautam Adani Net Worth
As of February 2, 2023, Gautam Adani’s net worth was reported to be 43.3 billion U.S. dollars. This figure marked a significant drop from his net worth in April 2022, which stood at a much higher 90 billion U.S. dollars. The decrease in Adani’s net worth during this period is quite remarkable. It could be due to various factors, including changes in the stock market, fluctuations in the value of his investments, or shifts in the performance of his businesses. While 43.3 billion U.S. dollars is still an enormous sum of money by any measure, it highlights the volatility and unpredictability of wealth in the world of finance and business.
Adani’s initial focus into green hydrogen involves the establishment of a comprehensive $5 billion facility. This facility will encompass the construction of manufacturing plants dedicated to producing wind turbines and solar modules, along with the development of renewable energy generation capabilities. In the future he will introduce more new projects related to energy sources of India. If you’re excited to know more about his project, be the first one and stay tuned with us for more updates.
Gautam Adani’s life journey is a testament to the power of persistence, innovation, and dedication towards his vision. From humble beginnings, he has risen to become one of the most influential and successful entrepreneurs and businessmen in India and beyond. Through his vision and leadership, he has not only transformed his own fortune but has also made a significant impact on the infrastructure, energy, and business landscape of the nation and marked the impactful impression in everyone lives.