Indian industrialist and billionaire Gautam Shantilal Adani. He started the Adani Group, a multinational company that operates and develops ports in India, and serves as its chairman. The company is headquartered in Ahmedabad. Adani’s wife, Priti Adani, takes the helm at the Adani Foundation, where he serves as president.
After Elon Musk, he is the second-wealthiest person in the world as of 16 September 2022, with a net worth of US$146.8 billion. He is the richest person in India and Asia. Investors in Adani Group Early trading on Friday saw new highs for Adani Enterprises, Adani Port, and Adani Transmission on the BSE, increasing the group chairman’s real-time net worth.
Chairperson of the Adani Group and Indian billionaire Gautam Adani has overtaken Amazon’s Jeff Bezos as the world’s second-wealthiest individual. He is now second only to Elon Musk, CEO of Tesla, on the list of the world’s wealthiest people.
Gautam Adani: Early Life
Adani was born to Shantilal Adani (father) and Shantaben Adani (mother) in Ahmedabad, Gujarat, on June 24, 1962. His seven siblings and parents are all new arrivals from the northern Gujarati town of Tharad. His dad owned a little textile business.
The Ahmedabad school Sheth Chimanlal Nagindas Vidyalaya was his educational foundation. He started off at Gujarat University, where he planned to earn a bachelor’s degree in commerce, but he transferred out after his sophomore year. Adani was interested in working for himself, but not in his father’s textile company.
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Gautam Adani: Net Worth
Chairperson of the Adani Group and Indian billionaire Gautam Adani has overtaken Amazon’s Jeff Bezos as the world’s second-wealthiest individual. Based on real-time data from Forbes, he is now second only to Tesla CEO Elon Musk, who is worth $273.5 billion.
This was revealed by LiveMint. With the significant increase in Adani Group stock value at the helm, Adani became the second richest man on the planet. Adani’s net worth increased by $5.5 billion, or over 4%, to $155.7 billion as of September 16, 2022,
according to the real-time billionaire list. Gautam Adani‘s real-time net worth echoed the stock market jump as Adani Group equities of Adani Enterprises, Adani Port, and Adani Transmission touched record highs on the BSE in Friday’s early trades.
More than $70 billion will be added to the Adani Group chairman’s fortune in 2022. (YTD). He became the richest Asian in February, passed Mukesh Ambani as the world’s fourth-richest person in April, and passed Microsoft’s Bill Gates as the world’s fifth-richest person in the last month.
Gautam Adani Career
In 2014, then-Secretary of State John Kerry met with Gautam Adani. Adani arrived in Mumbai in 1978 when he was 16 years old and found work at Mahendra Brothers sorting diamonds. His older brother Mahasukhbhai Adani bought a plastics factory in Ahmedabad in 1981 and asked him to oversee daily operations.
Polyvinyl chloride (PVC) imports opened up a world of opportunity for Adani’s business. Back in 1985, he began bringing in raw materials for local manufacturers by importing polymers. Adani first founded Adani Exports in 1988; it is now known as Adani Enterprises and serves as the holding company for the Adani Group.
The corporation expanded from its original focus on agricultural and energy commodities. He began diversifying into metals, textiles, and agricultural products trading in 1991 when his company benefited from economic liberalization policies. Adani was awarded the concession to manage the Mundra Port by the Government of Gujarat in 1995, following an announcement made by the government in 1994.
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He built the first jetty in 1995. Adani Ports & SEZ now runs the facility that was formerly managed by Mundra Port & Special Economic Zone (APSEZ). As of now, this business operates more ports than any other private entity. It is estimated that Mundra Port can handle close to 210 million tons of cargo annually, making it the largest private sector port in India.
Adani Power, a subsidiary of the Adani Group, was established by Adani in 1996. Adani Power is the largest private thermal power producer in the country, thanks to its 4620MW worth of thermal power plants. Adani entered the electricity generation market in 2006.
He bought the Australian port of Abbot Point and the Queensland coal mine of Carmichael between 2009 and 2012. Adani was awarded a US$6 billion solar project by the Solar Energy Corporation of India (SECI) in May of 2020, making it the largest solar project ever bid on. Adani Green will take on the 8000MW photovoltaic power plant project, and Adani Solar will add 2000MW to its solar cell and module production capacity.
Personal Life
Priti and Gautam Adani are married. The couple’s sons are called Karan Adani and Jeet Adani. The Jain International Trade Organization is where he belongs (JITO). In 1998, he was kidnapped and held for ransom, but he was eventually freed. At the time of the 2008 assaults on Mumbai, he was staying at the Taj Mahal Palace Hotel.
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Philanthropy
The Adani Group supports the Adani Foundation, which Adani himself owns. The company began operations in 1996. The company also has a presence in the states of Maharashtra, Rajasthan, Himachal Pradesh, Madhya Pradesh, Chhattisgarh, and Odisha, in addition to Gujarat.
To help combat the spread of the Coronavirus, he donated 100 crores (about US$13 million) to the PM Cares Fund through his organization’s charitable arm in March of 2020. The Chief Ministers’ Relief Funds in Gujarat and Maharashtra each received donations of 5 crores (US$630,000), or about 1 crore (US$130,000).
A team of 80 metric tons of liquid medicinal oxygen was shipped from Dammam, Saudi Arabia to Mundra, Gujarat in four ISO cryogenic tanks bought by the Adani-led multinational conglomerate Adani Group. The organization also bought 5,000 cylinders of oxygen from Linde Saudi Arabia that are suitable for medical use.
Adani wrote on Twitter that every day his company distributes 1,500 oxygen tanks to hospitals and clinics in the Kutch region of Gujarat. Adani plans to give away Rs 60,000 crore ($7.7 billion) in June 2022. One of the largest gifts to an Indian charitable trust, Adani’s fortune will be managed by the Adani Foundation.
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