Gautam Adani : Gautam Shantilal Adani is an Indian billionaire industrialist. He is the chairman and founder of Adani Group, an Ahmedabad-based multinational conglomerate involved in port development and operations in India. Adani is also the president of Adani Foundation, which is primarily led by his wife, Priti Adani. As of November 2022, with a net worth of US $138.1 billion according to Forbes and $133 billion according to Bloomberg. He is the richest person in Asia and the third richest person in the world.
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Gautam Adani Earlier life Family
Adani was born on 24 June 1962 in a Jain family to Father Shantilal Adani and Mother Shantaben Adani 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. Adani was keen on business, but not his father’s textile business.
Gautam Adani : Career
Gautam Adani was always attracted to business and wanted to do his own business but he did not take over his father’s textile business. Scroll down to know about his career.
Gautam Adani moved to Mumbai in his teenage years in 1978 and worked as a diamond sorter for Mahendra Brothers. He worked there for around two to three years before establishing his own diamond brokerage firm at Zaveri Bazaar, Mumbai.
In Ahmedabad, Gautam’s elder brother Mansukhbhai Adani brought a plastics unit in 1981 and invited him to manage operations. This venture turned out to be Adani’s gateway to global trading via Polyvinyl Chloride (PVC) imports.
He then started importing primary polymers for small-scale industries in 1985. Adani established Adani Exports in 1988 and is now known as Adani Enterprises. The company deals in agriculture and power commodities.
In the 90s business expanded. For the Adani group, economic liberalisation policies turned out to be favourable in 1991 and he started expanding it into the trading of metals, textiles, and agro products.
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Adani got the Mundra Port contract in 1995. He set up the first Jetty in 1995. It was originally operated by Mundra Port & Special Economic Zone. Later, the operations were transferred to Adani Ports & SEZ (APSEZ). Nowadays, is the largest private multi-port operator.
Adani Power found by Adani which is the power business arm of the Adani Group in 1996. It holds thermal power plants of around 4620 capacity and is the largest thermal power producer in the country.
He also entered the power generation business in 2006. He also acquired Abbot Point Port in Australia and Carmichael coal mine in Queensland from 2009 to 2012.
Adani won the world’s largest solar bid by the Solar Energy Corporation of India (SECI) worth $6 billion in May 2020. Green in the future will also take the project of an 8000 MW photovoltaic power plant. Adani Solar will establish 2000 MW of additional solar cell and module manufacturing capacity.
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 says that Adani acquire his stake via a third party without informing the company’s founders, former journalist Radhika Roy and her economist husband Prannoy Roy, and the deal done “without discussion, consent or notice. ”This bid also raise concern regarding editorial independence in India. Since Adani is consider to close to Prime Minister Narendra Modi’s ruling Bharatiya Janata Party.
Philanthropy
Gautam Adani is the president of the Adani Foundation. The foundation not only operates in Gujarat but also operates in the states of Maharashtra, Rajasthan, Himachal Pradesh, Madhya Pradesh, Chhattisgarh, and Odisha.
As per some reports, he contributed around Rs 100 crore to the PM Cares Fund in March 2020 through his group’s philanthropy arm to fight against COVID-19. Also, around Rs 5 crore contribute to the Gujarat CM Relief Fund and Rs 1 Crore to the Maharashtra CM Relief Fund.
