Gautam Adani Biography:
Gautam Adani is a billionaire Indian industrialist who found and leads the Adani Group, one of India’s largest multinationals. He also owns the Mumbai Indians cricket team. Born into a Gujarati Jain family in Ahmedabad, Gujarat on the 24th June 1962, his father was called Shantilal Adani while his mother was Smt. Rita Adani. Pritesh, Rajesh, Nishant are the names of his three brothers and Meena is his sister. His primary education was at Sheth Chunnilal Damodardas Barfiwala High School in Ahmedabad after which he pursued BCom at Gujarat University.
After graduating from university, he began working as a diamond classifier at Mahindra Brothers in Mumbai. In 1981, with only Rs10 000 capital to start with, he left Mahindra Brothers to establish own personal enterprise. Commodities such as cotton spices and cereals were exported by his business known as Adinath Exports within few years later it developed into a viable operation with an annual turnover of INR100 crore (approximately USD11 million). In 1988, he established another company termed Adani Enterprises which took over operations from Adinath Exports.
Presently, energy resources logistics agro commodities trading and generation of power through thermal and renewable sources of energy are some of sectors where businesses associated with the group operate under their various subsidiaries like Mundra Port & SEZ Ltd., Vaizag Seaport Private Ltd., Marmugoa Port Terminal Ltd., Udupi Power Corporation Ltd., among others. The group has over $11 billion annual turnover and employs more than 25 thousand people across its different units worldwide including India itself. Additionally Gautam Adani’s philanthropic work is through Adani Foundation, which has been committed to tribal upliftment in Gujarat and Maharashtra.
He was awarded the Padma Shri (2014) and Forbes Asia Businessman of the Year (2017). He is considered as one of the most influential people in India today.
Adani started his career with employment at his family’s textile business. Later, he got into commodity trading which made him rich. Diversification into infrastructure, power generation, mining and logistics followed. The group today operates across a number of sectors making it one of India’s largest conglomerates.
There have been allegations that Modi has favored Adani by giving him sweetheart deals with the Indian government. However, Adani has denied any illegal activities claiming that he had entered into business in India simply because of Modi’s policies.
Also critics have raised concerns over environmental effects of Adanis Group projects particularly this includes its plans to develop a giant coal mine in Australia. This company’s CEO however stated that they remain committed to sustainable development because majority of their mines comply with world class ISO14001 standards for management systems
In 1988 he invested $25 000 for setting up the Adani Group. Its primary subsidiary is Adani Enterprises Limited (previously known as “Adani Exports Limited”) established in 1993 as a commodity trading firm.
The company also has interests in edible oil production, commodities trading, ports services or facilities development real estate and power generation among others. It is India’s biggest private multi-port operator developing country major integrated multi-modal logistics platform among others are port shipping terminals throughout india while also having substantial mining operations overseas such as indonesia.
In November 2018, Adani officially gave approval to build a $2-billion coal mine in Carmichael Queensland, Australia with the Australian government. The mine has been controversial because of the possible negative effects on the environment and indigenous people in that area.
The commencement of mining is slated for 2019 and it will be operational by 2022. On completion, it would be one of the largest coal mines in Australia which will produce 60 million tonnes per annum of thermal coal.
Adani also had plans to construct a railway line from the Carmichael mine site to an existing rail network that connects to Abbot Point Coal Terminal. It meant building a railway line that stretched approximately 200 kilometers at a cost of about $1 billion.
Gautam Adani richest person in Asia:
Having a net worth of $50.5 billion makes Gautam Adani not only Asia’s richest individual but also ranks him as world’s thirteenth wealthiest man alive. Amongst his major investments is Adani Group, India’s biggest conglomerate corporation founded by him and still chaired by him even today. Apart from being a cricket devotee he owns Mumbai Indians which is an Indian Premier League franchise.
World’s 3rd Richest Person, Gautam Adani Net Worth:
Also referred to as the third richest person globally, Gautam Adani stands at $77.4 billion worth within his assets portfolio. Chairman and founder of Adani Group; this group owns different industries such as port infrastructure development, power generation including transportation logistics systems that cut across all states worldwide where coal trade takes place among other sectors are meant for natural resources extraction like mining energies above all else!
Born into one family known for its involvement with precious stones salesmen-located right here they say Ahmedabad town lies somewhere near diamond exchange quarters!? This made sense since he soon dropped out without completing studies but instead went ahead establishing his own company buying goods such as lentils and cereals.
This includes power generation and infrastructure development-related to his group’s diversification. The largest coal mine in Australia was purchased by him at $2 billion in 2010. Adani Group is worth around $13 billion annually while employing an excess of 70k employees around the world today, now he owns a fortune of about $77.4bn making him third wealthiest globally.
Also Read: Success Story of Vivek Bindra
Gautam Adani Story in Recent Years:
He is a self-made man who has built up a vast business empire. And yes, you guessed it! He does not only operate in one sector but has diversified his commercial ventures which range from energy to resource based industries like logistics for agro-commodities or even generating electricity that powers homes and businesses alike; including owning a controlling stake within Mumbai Indians – this Indian cricket team playing IPL matches against other teams each year during summer months on their own soil!
Some say he practices crony capitalism while others accuse him of causing environmental degradation through reckless behavior constitutes class action lawsuits! Yet he denies all these allegations against himself without any evidence whatsoever proving so otherwise, thus giving us no reason not believe every single word uttered by media about being wronged at every turn for nothing but greediness toward money? Money!! In fact many would regard Gautam Adani as one India’s most successful capitalists despite controversies surrounding some aspects relating how things are done there.
One thing is certain; Gautam Adani is one of the most powerful people in India. He is a self-made man who has built up a vast business empire. And yes, you guessed it! He does not only operate in one sector but has diversified his commercial ventures which range from energy to resource based industries like logistics for agro-commodities or even generating electricity that powers homes and businesses alike; including owning a controlling stake within Mumbai Indians – this Indian cricket team playing IPL matches against other teams each year during summer months on their own soil!
