|Net Worth:||$138 Billion|
|Date of Birth:||June 24, 1964 (59 years old)|
What is Gautam Adani’s net worth? How does Gautam Adani make his money? Below is the current net worth of Gautam Adani and how Gautam Adani makes his money.
What is Gautam Adani’s Net Worth?
Gautam Adani is an Indian business magnate who has a net worth of $138 billion. The richest man in Asia and one of the richest persons on earth, Gautam Adani, has held both positions at various points in history.
Gautam had a net worth of $75 billion at the start of 2022, which placed him in the top 13 richest people in the world. Gautam’s net worth climbed by $50 billion over the following five months, which was a huge gain compared to other billionaires during that time.
As of April 26, 2022, Gautam had exceeded Warren Buffett in terms of wealth, with a net worth of $125 billion.
Shantilal and Shanti gave birth to Gautam Adani on June 24, 1962, in Ahmedabad, Gujarat, India. He has seven siblings altogether. Adani attended Sheth Chimanlal Nagindas Vidyalaya in Ahmedabad for his studies. Later, he was enrolled at Gujarat University with a commerce specialization, but he left after his second year.
Initial Stage of Career
To work as a diamond conveyer for Mahendra Brothers, Adani relocated to Mumbai in 1978. A few years later, his brother Mansukhbhai asked him to oversee activities at Ahmedabad’s plastics factory that he had just bought. Adani started his international trade business through business by importing PVC. For smaller businesses, he began importing basic polymeric materials in 1985.
Together with its parent corporation, Adani Enterprises, Adani Group was established in 1988 as a commodity trading firm. A few years later, at Mundra, the group built its own dock as a platform for its commercial activities.
The 1991 economic liberalization of India had a positive effect on the Adani Group, which later increased its market share by entering the trade of agro, metals, and textile items.
The coal trade by the Adani Group began in 1999, marking the commencement of the company’s second phase, which was built around the construction of significant infrastructure investments such as ports, hydroelectric dams, ships, and mines.
Adani Group started operating in the energy sector in 2006. With operations in 50 nations, the group generates more than $15 billion in earnings each year.
Adani Wilmar, which concentrates on food manufacturing, Adani Road Transport, which specializes in road building, and Adani Airport Holdings, which emphasizes on airport operations, are the three primary subsidiaries of Adani Enterprises, which serves as the holding company of the Adani Group.
Adani Mining, Adani Solar, Adani Water, Adani Welspun Exploration, AdaniConneX, Adani Defence & Aerospace, and Adani Cement are further subsidiaries. Adani Ports & SEZ, Adani Power, Adani Transmission, Adani Green Energy, and Adani Gas were past subsidiaries of Adani Enterprises that later separated from it.
Over the years, there have been several scandals involving the Adani Group. When it began a $21.5 billion, 86,000-acre extraction and rail construction in Queensland, Australia’s Galilee Basin, it was confronted with opposition from environmental activists.
Numerous global banks hesitated to sponsor the venture because of the uproar, but subsequently, the Australian government allowed it. Rajesh Adani, the managing director of Adani Enterprises, was detained in 2010 on suspicion of tax cheating, among other matters of controversy.
Exactly seven years later, Indian customs claimed that the Adani Group had been transferring millions of dollars from its accounts to tax shelters operated by the Adani family abroad, along with an offshore firm in Mauritius that belonged to one of Adani’s brothers.
Adani was also charged with transferring the money covertly through a Dubai-based shell firm.
Priti, his wife, and Adani are wed. Due to his 1998 kidnapping and subsequent release, he has had a rather eventful existence. Adani was later present at the Taj Mahal Hotel, which was under siege during the 2008 Mumbai terrorist attacks.
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