Gautam Adani takes over Ambani as Asia’s richest person

Gautam Adani is a billionaire Indian industrialist who formed the Adani Group, a multinational conglomerate based in Ahmedabad. Founded in 1988, the corporation is now a key player in a variety of industries, including coal trading, coal mining, oil and gas exploration, ports, multi-modal logistics, and power production. Priti Adani, Gautam Adani’s wife, is the head of the Adani Foundation, an Indian global company.

He is the richest man in Asia and India, overtaking Mukesh Ambani, as of April 11, 2022, he has a total net worth of US$123.4 billion or 9.23(approx) lakh crores making him the world’s sixth richest person, according to Forbes.

Gautam Adani Early Life

Gautam was born on June 24, 1962, in Ahmedabad, Gujarat, to a Jain family. His father’s name is Shantilal and his mother’s name is Shanti. Adani’s parents relocated from the town of Tharad in Gujarat’s northern region, and he had seven siblings. His father was a small textile merchant. He attended Ahmedabad’s Sheth Chimanlal Nagindas Vidyalaya school. He did his graduation from Gujarat University for a degree in commerce. But dropped out of University after the second year. Adani’s first choice was always business. But he had no interest to join his father in the textile industry.

Adani’s Career

His entrepreneurial spirit and business mindset led him to leave Ahmedabad. And relocate to Mumbai when he was 18 years old. After working as a diamond sorter at Mahindra Brothers for a few years. Then he decided to start his own diamond trading company. His business thrived, and by the time he was 20, he had built a million-dollar fortune.

His elder brother, Mahasukhbhai established a plastic factory in Ahmedabad in 1981. And asked him for help in running it. This enterprise turned out to be Adani’s doorway to worldwide trading through polyvinyl chloride (PVC) imports.

He started importing raw polymers for small companies in 1985. He founded Adani Exports Limited in 1988 currently known as the Adani Enterprises Limited. The company started by dealing in agricultural material and power, but with time it expanded.

In 1991, his company benefited from economic liberalization measures. And he began growing his business in the metals, textiles, and agricultural products trade.

More about Adani’s Career

The Gujarat government solicited private companies to administer the Mundra Port in 1993. And Adani got the contract in 1995. It was first operated by Mundra Port & Special Economic Zone Ltd. Which was later renamed Adani Ports and Special Economic Zone Limited (APSEZ). It has grown to become India’s largest privately owned multi-port operator.

Adani Electricity, the Adani Group’s power business arm, was created by Adani in 1996. His company Adani Power is the country’s largest private thermal power producer owning 4620MW of thermal energy plants.

Adani entered the power generation business in 2006. He bought Abbot Point Port in Australia and the Carmichael coal mine in Queensland between 2009 and 2012.

In May 2020, Adani was awarded the world’s largest solar bid. Valued at $6 billion, from the Solar Energy Corporation of India (SECI). The 8000MW photovoltaic power plant project will be handled by Adani Green. While Adani Solar will add 2000MW of solar cell and unit production capability.

Adani bought a 74% share in Mumbai International Airport, India’s second busiest after Delhi, in September 2020.

According to 2018 statistics, Gautam Adani owned 66 percent of Adani Ports & SEZ, 75 percent of Adani Enterprises, 73 percent of Adani Power, and 75 percent of Adani Transmission.


Adani Group- Company and Profile

Goods trade, edible oil manufacture, Mundra port operations, and natural gas distribution are among the group’s core business areas.

Its rise to become one of India’s most reputable and diverse trade houses was quick and worthy of replication.

The Adani Group has expanded outside its core operations to include Real Estate, Ports, Special Economic Zones, and IT-enabled services. The growth was complemented by a synergy across its business units. This brought them together and improved their productivity and competitiveness.

The company focuses on turning collaborations into winning relationships and is dedicated to providing excellent returns to its stakeholders.

The Adani Group encompasses more than 50 companies, including the following:

•Adani Enterprises Ltd.

• Gautam Adani Agri Logistics Ltd.

•Adani Agri Fresh Ltd.

•Gujarat Adani Energy Ltd.

•Adani Mining Ltd.

•Gujarat Adani Port Ltd.

•Adani Power Ltd.

• Gautam Adani Retail Ltd.

•Adani Wilmar Ltd.

•iCall India Ltd.

•Adani Properties Ltd.

•Mundra Port and Special Economic Zone Ltd.

Personal Life

Priti Adani is wife of Gautam Adani. Gautam Adani has two sons, Karan Adani and Jeet Adani. His wife is the Managing Trustee for the Adani Foundation.

Philanthropic Works

Gautam Adani is not just of the most successful businessman. He is also known for his philanthropic works.. He is the founder and president of the Adani Foundation. Adani group supports this foundation. The groupwas established in 1996. The Foundation works in several States of India namely Maharashtra, Rajasthan, Himachal Pradesh, Madhya Pradesh, Chhattisgarh, and Odisha, in addition to Gujarat.

Through the Adani Foundation, the Gautam Group is involved in a lot of philanthropic activities. In addition to Gujarat, the foundation works in various states, primarily focusing on education, sustainable livelihood options, and expanding rural infrastructure.

His wife manages the Gautam Vidya Mandir in Ahmedabad. The mandir accepts only children whose parents earn less than Rs.1 lakh per year .

The organisation programme for assisting fishermen, and it gives financial aid to 500 fishermen from the coastal taluka to help them purchase fishing equipments. And also provide education to the children of the fishermen’s.

Adani Foundation teamed with IndiaSkills, a joint project in vocational education, and City & Guilds, one of the major providers of job assessment and qualifications, to open a skills training facility in Gujarat in 2012.

To combat the Coronavirus outbreak, he donated 100 crore (US$13 million) to the PM Cares Fund. Through his group’s charitable arm in March 2020. The Gujarat CM Relief Fund received a donation of 5 crore (US$660,000). And the Maharashtra CM Relief Fund received a donation of 1 crore (US$130,000).

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