India’s richest billionaire and one of the most talked about business tycoons in recent years, Gautam Adani added one more feather to his hat by landing the third position among the richest people in the world. Mr. Adani with a total wealth of $137 billion, trails only Tesla Chief Elon Musk with a total wealth of $251 billion, and Amazon’s Founder Jeff Bezos with a wealth of $153 billion. India’s other globally famous billionaire Mukesh Ambani is at 11th position on the list.
The Rise And Shine Of Adani Group:
The rise of Mr. Adani is one of the most ambitious stories of today’s business world, as his wealth surged by a whopping thirteen-fold in just 2.5 years. In 2022 alone, he raised it by $60 billion, which is beyond imagination. His relentless pursuit for higher goals led to the rise of a few firms to more than 1000 percent in the last 2 years. Shares of Adani Green and Adani Total Gas have skyrocketed more than 1,000 percent since 2020. He even acquired a 74% stake in Mumbai International Airport, which is the second busiest airport in the country.
The Humble Beginning:
Adani group, which has gained super quick success in recent years and is valued at $250 billion had a humble beginning under Adani’s leadership. Born to a small textile merchant in Gujarat, Gautam Adani dropped out of their second year of college to start his own business.
But he did not join his father’s business. In 1988 he started his own form with the name Adani Exports which is now known as Adani enterprises, the holding company of Adani Group. The company then dealt with agriculture and power commodities. From 1991-94 he expanded the business in other domains like trading metals, textiles, and agro products.
The Turning Point:
In 1994 Managerial process outsourcing of Mundra airport was announced and Adani Enterprises got the contract. This was the first turning point that lead to the rise of Adani Group. Since then the company forayed into various other businesses including green field projects, acquisitions, and joint ventures. Now, the Adani Group comprises 7 publicly traded companies – Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Transmission, Adani Total Gas, Adani Power, and Adani Wilmar.
On February 22, he surpassed Richest Indian Mukesh Ambani in terms of total wealth and became the richest Asian. Adani group was recently in news for a hostile takeover of NDTV by acquiring a 29.18% stake in the company and planning to acquire a 26% stake through the public offering.
Gautam Adan’s success is a story of an ambitious and brilliant businessman who played all his right cards at the right time. His business excellence is evident in the fact that the self-made business tycoon has not only surpassed the lasting legacy of Reliance Industries but also left behind the head of a giant brand like Louis Vuitton, Bernard Arnault to become the third richest person in the world.
Giving Back To The Land He Belongs:
Gautam Adani has not only been growing his empire at the speed of a jet but also contributing back to the society that has shown immense trust in his business and helped it grow many folds in a small period. In 2020 his group contributed a jaw-dropping amount of 100 crores to PM Cares fund through its philanthropic arm.
Adani-led diversified conglomerate Adani Group imported four ISO cryogenic tanks filled with 80 metric tons of liquid medical oxygen from Dammam in Saudi Arabia to Mundra in Gujarat.
The group also secured 5,000 medical-grade oxygen cylinders from Linde Saudi Arabia. Each day his group is supplied 1,500 cylinders with medical oxygen to wherever they were needed in the Kutch district of Gujarat. In June 2022, Adani has committed to donating Rs 60,000 crore ($7.7 billion) to social causes.
