Gautam Adani Net Worth: $100 Billion
Category: Richest Business › Richest Billionaires
Birthdate: June 24, 1962 (61 years old)
Birthplace: Ahmedabad, Gujarat, India
Gender: Male
Profession: Businessperson
Nationality: India
Gautam Adani is an Indian entrepreneur with a net worth of $100 billion. He is the founder and chairman of the multinational conglomerate Adani Group and the president of the non-profit Adani Foundation. Known for his business acumen and philanthropy, Adani has been the richest person in Asia and one of the wealthiest people globally. In 2022, his net worth saw a significant increase, making him the fifth richest person in the world at one point.
Early Life and Education
Gautam Adani was born on June 24, 1962, in Ahmedabad, Gujarat, India, to Shantilal and Shanti Adani. He has seven siblings. Adani attended Sheth Chimanlal Nagindas Vidyalaya in Ahmedabad and later went to Gujarat University as a commerce major but dropped out after the second year.
Career Beginnings
In 1978, Adani moved to Mumbai to work as a diamond sorter for Mahendra Brothers. A few years later, his brother Mansukhbhai invited him to manage operations at his newly purchased plastics unit in Ahmedabad. This venture marked the beginning of Adani’s career in global trading through PVC imports. In 1985, he started importing primary polymers for small-scale industries.
Adani Group
In 1988, Adani founded Adani Group as a commodity trading business with Adani Enterprises as the flagship company. The group established its own port in Mundra to facilitate its trading operations. The liberalization of the Indian economy in 1991 allowed Adani Group to expand into trading textiles, metals, and agricultural products. In 1999, the group started coal trading and later moved into power generation in 2006. Adani Group now operates in 50 countries, with annual revenue exceeding $15 billion.
Adani Enterprises has several subsidiaries, including Adani Airport Holdings, Adani Wilmar, and Adani Road Transport. Other subsidiaries include Adani Cement, AdaniConneX, Adani Defence & Aerospace, Adani Mining, Adani Solar, Adani Water, and Adani Welspun Exploration. Former subsidiaries that were demerged include Adani Ports & SEZ, Adani Power, Adani Transmission, Adani Green Energy, and Adani Gas.
Sports Initiatives
Adani Group is involved in sports initiatives, such as the nationwide program Garv Hai, which supports Indian athletes in sports like archery, boxing, wrestling, shooting, and athletics. The group also operates the Surguja Football Academy in Chhattisgarh and holds naming rights for Adani Arena in Rockhampton, Australia, and the pavilion end of Narendra Modi Stadium in Ahmedabad.
Controversies
Adani Group has faced several controversies, including environmental backlash for a $21.5 billion mining and rail project in Queensland, Australia. In 2010, Rajesh Adani, managing director of Adani Enterprises, was arrested on charges of tax evasion. The group has also been accused of financial misconduct and using offshore companies to divert funds.
Philanthropy
Adani founded the Adani Foundation in 1996 to promote sustainable development in India through projects in education, healthcare, sustainable living, and community infrastructure. The Foundation has established cost-free schools and higher education institutions like the Gujarat Adani Institute of Medical Sciences. Other initiatives include Udaan, SuPoshan, and Saksham. During the COVID-19 pandemic, the Adani Foundation donated $13 million to the PM CARES Fund and made significant contributions to state relief funds.
Personal Life
Gautam Adani is married to Priti Adani. He has experienced significant personal turmoil, including being kidnapped and held hostage in 1998 and surviving the 2008 terrorist attacks in Mumbai while at the Taj Mahal Hotel.
