Gautam Adani

Gautam Adani, an Indian industrialist and founder of the Adani Group, was born in Ahmedabad, India. He rose from a modest background to become one of the richest individuals in the world.

Gautam Adani began his career in the diamond industry in 1978 in Bombay (now Mumbai) after dropping out of school at the age of 16.

Despite having little interest in academics as a child, Gautam Adani attended Gujarat University to pursue a degree in commerce. However, he dropped out in the second year.

In 1981, Adani started working in the diamond-sorting trade in Mumbai after moving from his hometown with a few rupees. He dedicated long hours to polishing gems.

In 1983, the Adani family company began importing polyvinyl chloride to meet the demands of its business.

In 1985, the union government's relaxation of import licenses proved to be beneficial for the Adani company.

In 1986, Gautam Adani married Priti Vora, who later became the chairperson of the Adani Foundation, the philanthropic arm of the Adani Group.

Gautam Adani founded Adani Group, an industrial conglomerate that plays a significant role in the Indian economy.

At the beginning of 1990, Adani's trading business expanded from imports and exports of raw materials to include finished goods. Over time, it diversified into energy, infrastructure, logistics, ports, mines, and renewables.

In 1991, the Adani Group received a significant contract from the Gujarat state government, which enhanced the group's reputation and enabled them to pursue ambitious business ventures. The financial resources from this contract provided stability for the group to grow and diversify.

In 1993, the Adani Group underwent a phase of expansion and diversification, building on the stability gained from the substantial contract with the Gujarat state government. This period marked significant growth and development for the group.

In 1995, Adani's company made a significant move by entering the port sector, which later became the crown jewel of their business empire. This strategic decision led to exponential growth for Adani's company.

Adani established Adani Power in 1996, which became a key player in the thermal power generation sector with substantial capacity.

In January 1998, Gautam Adani and an associate were allegedly abducted and held for ransom, leading to a legal case that concluded in 2018 with the accused being acquitted.

In 2002, more than 1,000 people, mostly Muslims, were killed in the Gujarat riots, leading to criticism of Chief Minister Narendra Modi.

Adani ventured into the power generation business in 2006, marking a significant diversification in his business portfolio.

On 26th November 2008, during the Mumbai terror attack at the Taj Mahal Palace Hotel, Gautam Adani was present and had a close encounter with the terrorists, managing to hide and escape safely the next day.

An incident where Gautam Adani sought safety in a Taj hotel toilet during a certain situation.

In 2012, a charge sheet was filed against Adani for alleged cheating and criminal conspiracy, but he was later discharged from the case in May 2014, only to face renewed scrutiny in 2020.

In May 2014, Narendra Modi was elected as the Prime Minister of India, and he flew to New Delhi on Adani's private jet.

The Adani Group expanded its port operations by acquiring the Dhamra Port in Odisha, strategically broadening its geographical reach and increasing port capacity.

In July 2014, Adani Group secured environmental clearances for its special economic zone in Mundra.

The Adani Group achieved the milestone of becoming India's largest private power transmission company with Adani Transmission, showcasing its prowess in the energy industry and commitment to enhancing India's power infrastructure.

The Adani Group's solar manufacturing arm achieved the status of being India's largest manufacturer of solar panels and cells, highlighting its manufacturing capabilities and dedication to sustainable energy production in the competitive renewable energy sector.

In May 2020, Adani secured a significant solar bid from the Solar Energy Corporation of India, marking a major milestone in the renewable energy sector.

In September 2020, Adani acquired a majority stake in Mumbai International Airport, solidifying the group's presence in the aviation sector.

In November 2021, Adani revealed plans for a substantial investment of $70 billion in a new green energy business, signaling a major shift towards sustainable initiatives.

On August 23, 2022, Adani Group announced the purchase of a majority stake in New Delhi Television Ltd (NDTV), a prominent media house in India. This acquisition by billionaire Gautam Adani's company has made a significant impact in the media industry.

Hindenburg Research decided to bet against Adani's stock by shorting it due to various reasons, including allegations of money laundering and other damaging accusations against the company's founder.

By January 30, 2023, Adani's seven listed companies collectively lost $65 billion in market capitalization.

One week after the allegations, Adani slipped off Bloomberg's list of the 10 wealthiest people on the planet, reportedly losing $34 billion of personal wealth in just three trading days.

As of February 7, 2024, Gautam Adani ranks 14th on the Bloomberg Billionaires Index with a net worth of $97.9 billion.

Gautam Adani inaugurated the Adani Green Energy gallery in the UK, expressing his vision to inspire people to create a sustainable world.

Adani Group has set a goal to be the top renewable energy producer globally by the year 2030.