Do you Know the net worth of Gautam Adani and family? Have you ever guessed where he comes from and where he attended school? Do you know how Gautam’s career began and how he made his wealth? This article answers all your questions about Gautam Adani net worth.
Who is Gautam Adani?
Gautam Shantilal Adani is an Indian billionaire industrialist and philanthropist. He is the chairman and founder of the Adani Group, an Ahmedabad-based multinational conglomerate involved in port development and operations in India. Adani is also the president of the Adani Foundation, which is primarily led by his wife, Priti Adani. He is the richest man in Asia surpassing Mukesh Ambani with a net worth of US$90.4 billion according to Forbes Real Time Billionaires Index.
Where Gautam Adani Originated
Adani was born on 24 June 1962 in a Jain family to Shantilal and Shanti Adani in Ahmedabad, Gujarat. He has 7 siblings and 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.
Career, Businesses and Wealth
In 1978, as a teenager, Adani moved to Mumbai to work as a diamond sorter for Mahendra Brothers. He worked there for 2–3 years before establishing his own diamond brokerage firm at Zaveri Bazaar, Mumbai.
In 1981, his elder brother Mansukhbhai 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 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 4620 MW, the largest private thermal power producer of the country. Adani is the president of the Adani Foundation, funded through the Adani Group. It was founded in 1996. Other than Gujarat, the Foundation operates in the states of Maharashtra, Rajasthan, Himachal Pradesh, Madhya Pradesh, Chhattisgarh, and Odisha.
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 $6 billion. The 8000 MW photovoltaic power plant project will be taken up by Adani Green; and Adani Solar will establish 2000 MW of additional solar cell and module manufacturing capacity.
In September 2020, Adani acquired a 74% stake in Mumbai International Airport, India’s second busiest. In November 2021, he became Asia’s richest person, surpassing Mukesh Ambani.
Summary of Gautam Adani’s Wealth
- Infrastructure tycoon Gautam Adani controls Mundra Port, India’s largest, in his home state of Gujarat.
- His $13 billion (revenue) Adani Group’s interests span infrastructure, commodities, power generation and transmission and real estate.
- Adani owns Abbot Point, a controversial coal mining project in Australia, whose Carmichael coal mine is billed as one of the world’s largest.
- In June 2019, Adani got permission to start work on the Australian coal mine after a 9-year wait.
- Adani acquired a 74% stake in Mumbai International Airport, India’s second-busiest, in September 2020
- He is the tenth richest man in the world.