Gautam Adani | Success story of one of the richest people in Asia
Gautam Adani is an Indian businessman and industrialist. He is the chairman and founder of Adani Group. Adani Group is an Ahmedabad-based multinational conglomerate involved in port development and operations in India. According to Forbes, his family’s net worth is estimated to be around $72.3Billion. He was the second richest man in Asia and the 13th richest man in the world. A college dropout, here’s his inspiring success story.
Gautam Adani was born on 24 June 1962 in Ahmedabad, Gujarat. His father was a textile merchant. After enrolling for a Bachelor’s degree at Gujarat University, Adani dropped out after the second year. He was passionate about business from a very young age. He dropped out to focus on his dreams and become a businessman. In 1978, as a teenager, Adani moved to Bombay to work as a diamond sorter for Mahendra Brothers. He worked with them for almost 2-3 years and eventually established his diamond brokerage firm.
Gautam Adani’s career
In 1981, Adani’s elder brother Mansukhbhai Adani bought a plastics unit and called him back to Ahmedabad to manage its operations. Adani joined the firm, and this event turned out to be his gateway to global trading through PVC imports. In 1985, he started importing primary polymers for small-scale businesses and industries. Soon, Adani established Adani Exports, now known as Adani Enterprises. Initially, the company dealt with agricultural and power commodities. As the new age of the Indian economy ushered in, Adani decided to expand his company.
In 1991, he started expanding his businesses into trading metals, textiles, and agro products. Gradually, the company emerged as a conglomerate. Adani set up his first jetty in 1994; today, his company is the largest private multi-port operator. He founded the power business arm of the Adani Group, Adani Power, in 1996. Adani Power holds thermal power plants and is the country’s largest private thermal power producer.
In 2006, Adani entered the power generation business. Adani acquired a 74% stake in Mumbai Airport in September 2020. In addition to being a business magnate, Adani and his wife are philanthropists. In 1996, he founded the Adani Foundation. The foundation works to improve education, community health, rural infrastructure development, sustainable livelihood generation, and more. In March 2020, he contributed ₹100 crores to fight the Coronavirus outbreak. Today, his net worth is around $ 72.3Billion.
Lessons we can learn
Gautam Adani came from a middle-class family and set up an empire alone. He moved to Mumbai from Ahmedabad as a teenager with a passion for following his dreams. Adani worked hard and made his dreams come true. There is no shortcut to success. Hard work is the only key to achieving it. It teaches us discipline, dedication, and determination. When we face hardships, we can assess our actions and search for better options.
Gautam Adani is set to replace Jeff Bezos to become the world’s second wealthiest person. In 2022, the Adani group witnessed growth in various sectors like telecom, cement, media, renewable energy, and ports. In contrast, Jeff Bezos had to incur severe losses due to a decline in the tech-heavy Nasdaq index. Adani’s total net worth has increased by more than $60 billion in the last year. Consequently, Adani Enterprises Ltd’s share price has increased by over 1500%. Recently, Gautam Adani revealed that the Adani group will set up massive clean energy plants in the nation. The plan involves establishing three factories to manufacture solar modules, wind turbines, and hydrogen electrolyzers.
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What is Gautam Adani's net worth?
As of 2020, it is 7,120 crores USD.
When did Gautam Adani find The Adani Group?
He founded it in 1988 as a commodity trading business.