The success story of Gautam Adani

Story of richest Celebrities

Wednesday, 8th September 2021

Gautam Adani is an Indian business magnate and the creator of the Adani Group, a multibillion-dollar corporation based in Ahmedabad. Founded in 1988, the corporation is now a major player in a variety of industries, including coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, and power generation. He was born into a business family and undoubtedly inherited his forefathers' commercial aptitude, but he had no interest in the family's textile business. Adani was a driven young guy who dropped out of school and relocated to Mumbai from Ahmedabad to pursue his dreams. He began his career as a diamond broker, where he quickly rose to prominence and became a millionaire. He returned home at his brother's request to assist him in the operation of a small plastics plant. Adani, an entrepreneur at heart, finally founded Adani Enterprises, which became the Adani Group's main enterprise. Initially focused on commodity export and import, the company quickly expanded into coal mining, ports, electricity generation, agro infrastructure, edible oil and transmission, and gas distribution, among other businesses. Adani is well-known for taking calculated risks, and his business model mainly relies on excessive leverage and political favouritism. His amazing success as a first-generation entrepreneur has drawn comparisons to Dhirubhai Ambani, the founder of Reliance Industries, another Gujarati entrepreneur.

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A GUJARAT SELF-MADE BILLIONAIRE'S CAREER AND EARLY LIFE

Gautam Adani was born on June 24, 1962, in Ahmedabad, Gujarat, India, to Shantilal and Shanta Adani, who came from a bania family. He is one of seven siblings. His family worked in the textile industry.

From a young age, he was ambitious and motivated. He was uninterested in studies as a child and dropped out of high school. Later, he attended Gujarat University but could not complete his studies. He had no intention of joining his father's textile company, despite his passion in business.

When he was 18, his business spirit drove him to leave Ahmedabad and relocate to Mumbai. The young man, who only had a few hundred rupees, was determined to make it big. He began his career as a diamond sorter at Mahindra Brothers before launching his own diamond trading firm after a few years.

His firm prospered, and by the age of 20, he had amassed a million dollar fortune. Gautam Adani's elder brother had recently purchased a plastic plant in Ahmedabad and requested him for assistance in running it.

Adani returned to Ahmedabad and joined his brother's company. Soon after, he began commodity trading by importing Polyvinyl Chloride (PVC), a major raw ingredient for plastic manufacture, and travelled to South Korea to make a contract for PVC imports.

He founded Adani Exports Limited in 1988. (now known as the Adani Enterprises Ltd). The corporation began by dealing in agricultural commodities and power, but as time went on, it expanded.

Adani's business was strengthened by the 1991 liberalisation and economic reforms, which resulted in increasing sales and profits. Adani was able to swiftly expand his company due to the favourable business environment.

The Gujarat government solicited private companies to administer the Mundra Port in 1993, and Adani was awarded the contract in 1995. Mundra Port & Special Economic Zone Ltd was the first to operate it, and it was eventually enlarged into Adani Ports and Special Economic Zone Limited (APSEZ). It is now the largest private multi-port operator in India.

The Gujarat government solicited private companies to administer the Mundra Port in 1993, and Adani was awarded the contract in 1995. Mundra Port & Special Economic Zone Ltd was the first to operate it, and it was eventually enlarged into Adani Ports and Special Economic Zone Limited (APSEZ). It is now the largest private multi-port operator in India.

GAUTAM ADANI'S NET WORTH

On June 14, 2021, a drop in Adani Group stocks reduced business tycoon Gautam Adani's net worth from $7.6 billion (approximately Rs 55,692 crore) to $67.3 billion. In early trading, the Forbes Real-time Billionaires index reflected the billionaire businessman's dramatic drop in net worth. Gautam Adani has a net worth of 6,240 billion dollars as of 2021.

The News Talkie Bureau

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