Successful story of a businessman - Gautam Adani

Gautam Adani

Adani in 2012

Born Gautam Shantilal Adani

24 June 1962 (age 60)

Ahmedabad, Gujarat, India

Education Gujarat University (dropped out, 1978)

Occupation(s) Businessman, Industrialist

Years active 1981–present

 Founder and Chairman of Adani Group

Title
 President of Adani Foundation

Spouse Priti Adani

Children 2, including Karan Adani

Early life
Adani was born on 24 June 1962 in a Jain family to Shantilal Adani (father) and Shantaben
Adani (mother) in Ahmedabad, Gujarat. He has 7 siblings. His parents had migrated from the
town of Tharad in the northern part of Gujarat. His father was a small textile merchant. He
was educated at Sheth Chimanlal Nagindas Vidyalaya school in Ahmedabad. He enrolled for
a bachelor's degree in commerce at Gujarat University, but dropped out after the second
year.[8] Adani was keen on business, but not his father's textile business.

Career
As a teenager, Adani moved to Mumbai in 1978 to work as a diamond sorter for Mahendra
Brothers.
In 1981, his elder brother Mahasukhbhai Adani bought a plastics unit in Ahmedabad and
invited him to manage the operations. This venture turned out to be Adani's gateway to
global trading through polyvinyl chloride (PVC) imports.
In 1985, he started importing primary polymers for small-scale industries. In 1988, Adani
established Adani Exports, now known as Adani Enterprises, the holding company of the
Adani Group. Originally, the company dealt in agricultural and power commodities.
In 1991, the economic liberalization policies turned out to be favorable for his company and
he started expanding the businesses into trading of metals, textiles, and agro products.
In 1994, the Government of Gujarat announced managerial outsourcing of the Mundra
Port and in 1995, Adani got the contract.
In 1995, he set up the first jetty. Originally operated by Mundra Port & Special Economic
Zone, the operations were transferred to Adani Ports & SEZ (APSEZ). Today, the company
is the largest private multi-port operator. Mundra Port is the largest private sector port in
India, with the capacity of handling close to 210 million tons of cargo per annum.
In 1996, the power business arm of the Adani Group, Adani Power, was founded by Adani.
Adani Power holds thermal power plants with a capacity of 4620MW, the largest
private thermal power producer of the country.
In 2006, Adani entered the power generation business. From 2009 to 2012, he
acquired Abbot Point Port in Australia and Carmichael coal mine in Queensland.
In May 2020, Adani won the world's largest solar bid by the Solar Energy Corporation of
India (SECI) worth US$6 billion. The 8000MW photovoltaic power plant project will be taken
up by Adani Green; Adani Solar will establish 2000MW of additional solar cell and module
manufacturing capacity.
In September 2020, Adani acquired a 74% stake in Mumbai International Airport, India's
second busiest after Delhi.
In November 2021, while speaking at the Bloomberg India Economic Forum, Adani said the
group is investing US$70 billion in a new green energy business. In July 2022, he offered
new details on how this investment will be utilized to build three giant factories – solar,
electrolyzer (to make green hydrogen), wind turbine plants.
In February 2022, he became Asia's richest person, surpassing Mukesh Ambani. In August
2022, he was named the 3rd richest person in the world by Fortune.
In May 2022, Adani family acquired Ambuja Cements and its subsidiary ACC from Holcim
Group for $10.5 billion, through an overseas special-purpose entity.
In August 2022, AMG Media Networks Limited (AMNL), a unit of Adani Group, declared that it
planned to buy RRPR Holding, owner of 29.18% of national news broadcaster NDTV, and made
an open offer to buy a further 26%. In a statement, NDTV said that Adani acquired his stake via a
third party without informing the company's founders, former journalist Radhika Roy and her
economist husband Prannoy Roy, and that the deal was done “without discussion, consent or
notice.” This bid also raised concern regarding editorial independence in India, since Adani is
considered to be close to Prime Minister Narendra Modi’s ruling Bharatiya Janata Party.

Philanthropy
Adani is the owner of the Adani Foundation, funded through the Adani Group. It was
founded in 1996. Other than Gujarat, the organisation operates in the states
of Maharashtra, Rajasthan, Himachal Pradesh, Madhya Pradesh, Chhattisgarh, and Odisha.
In March 2020, he contributed ₹100 crore (US$13 million) to the PM Cares Fund through his
group's philanthropy arm, to fight the Coronavirus outbreak. A contribution
of ₹5 crore (US$630,000) was made to the Gujarat CM Relief Fund
and ₹1 crore (US$130,000) to the Maharashtra CM Relief Fund.
Adani led diversified conglomerate Adani Group imported four ISO cryogenic tanks filled with
80 metric tonnes of liquid medical oxygen from Dammam in Saudi
Arabia to Mundra in Gujarat. The group also secured 5,000 medical-grade oxygen
cylinders from Linde Saudi Arabia. In a Twitter post, Adani shared that each day his group is
supplying 1,500 cylinders with medical oxygen to wherever they are needed in the Kutch
district of Gujarat. In June 2022, Adani has committed to donate Rs 60,000 crore ($7.7
billion) to social causes. Adani's corpus will be administered by the Adani Foundation,
making it one of the biggest transfers to a philanthropic trust in India.

NET WORTH:

Gautam Adani net worth: Gautam Adani is the founder and chairman of the
Adani Group, a worldwide company with headquarters in India. He is an
entrepreneur in his first generation. He is motivated by the fundamental idea
of combining growth with goodness through his vision of constructing a
nation. Gautam Adani net worth is $124billion. He is currently 3rd richest
person in the world.