Gautam Adani, Chairperson of Adani Group of India, has now become World’s Second Richest Person, suppressing Amazon’s CEO Jeff Bezos on the list.
According to the latest report by Forbes Real-time Billionaires list, Adani's Net worth is $155.7 Billion and has increased by 5.5 Billion Dollars, at least 4% since the last time. Last Month, Gautam Adani was in the Top 3 place and now the Billionaire has acquired Second place on the list.
The Indian Industrialist and Business tycoon have acquired the second position, leaving behind French tycoon Bernard Arnault and Amazon founder Jeff Bezos. At the same time, Elon Musk, the founder of Tesla has safely acquired the first position on the list.
Gautam Adani has now become the World's 2nd Richest person but his life has never been the same since the early days. The billionaire has been through a lot of ups and downs in his life. Even after acquiring and being in the market for decades, his net worth and career grew during the Global Pandemic.
According to a report, Adani is the biggest gainer in the year 2022. He adds $61 Billion to his wealth while Musk lost $19 Billion and Jeff Bezos lost around 39 Billion Dollars in the same year.
Adani is known for her hardship and survival skills which are already seen during the time of his kidnapping for Ransom two decades ago or making out from the Taj Hotel Attack in 2002. He has acquired the title of the Top Richest Man in the world by overcoming his obstacles.
Adani Group maintained its growth during the Covid-19 pandemic. While the whole world was going through a heavy financial crisis and the production of everything was facing its lowest, Adani Group flourished their wealth at that time.
How Adani Became the Richest Person in the World?
The journey of becoming the richest person was never easy, whether it is in India or the World. Gautam Adani has a long-run story of becoming a business tycoon. Tata and Aditya Birla's group has tremendously shaped the world after Independence and flourished the industrialists in India. Reliance and Adani Group are the 21st generation billionaire while making the country more recognizable on the global platform.
In Today’s world, Adani and Reliance group are actively working for the development of the country and shaping its wealth creation of it. According to Forbes, Gautam Adani’s Net worth is 155.7 Billion dollars while Elon Musk’s estimated Net worth is 273.5 Billion dollars.
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Over 30 years, Gautam Adani has worked and framed a group whose market Capitation has acquired around $153 Million+ and is among the 7 listed companies around the world. In this article, we’ll be going to decode how Gautam Adani, the Second Richest Man in the world, acquired the position over such a short period. We will further read how his success rises over the period and will go through his career in detail.
Along with this, we will also detail all the crucial stages that the group has gone through to acquire the position they have today. If you are interested in learning all these things, keep yourself engaged by reading the article till the end.
Gautam Adani: Early Life
Gautam Adani was born in a Jain Family in Ahmedabad. His father, Shantilal Adani, was a Textile Merchant Businessman in Ahmedabad. Since the beginning, Gautam was interested in Business and has always looked up to the resources to acquire the platform to grow. However, he was never interested in his Father’s textile business. He studied in Sheth Chimanlal Nagindas Vidyalaya, Ahmedabad, and did his bachelor's in Commerce from Gujarat University.
In 2nd year, he dropped his studies to do his own business. In 1978, Gautam Adani decided to go to Mumbai, where he worked as a Diamond Sorter for Mahendra Brothers. Later, Gautam Adani’s brother, Mansukhbhai Adani purchased a Plastic Factory and he asked Gautam to operate the operations of the company. In 1981, Gautam returned to Gujarat where he worked with his brother.
However, the company was going through a major struggle to survive in the Market. it was reported that the company required 20 tonnes of PVC every month and at that time, there was only one biggest Supplier of PVC and that was IPCL.
Because of several issues, IPC failed to deliver 20 tonnes of PVC and because of this, the company was going through a major struggle and hardship. After seeing the loopholes in this, Gautam Adani decided to import Plastic granules through Kandla Port.
Later, Adani started to take the agreement from the small businessman of Gujarat and work to take the orders of PVC. He was further helped by Gujarat PSU and Gujarat Government on it. He generated huge profits in the market and also gained the trust of the people and became a trustworthy person in the Market.
After seeing the growth, the government allowed him to import through various countries around the world and gave hi, a license that permits him to transport up to 12 crores without any Letter of Authorization. This increased the worth of Adani and in 4 years, Gautam Adani's import volume increased by 100 Metric tonnes. to 40000 Metric tonnes.
After the success of his first business, Aadmni started to import Chemicals and petroleum projects in the country. Along with this, he started to export his business across the country and other parts of the world. Over the period, he became a trader and started exporting and importing goods.
How Did Gautam Adani Expand Himself?
Shortly after the success of his business, Gautam Adani was recognized by many great leaders. He was actively working closely with the state politicians and it is believed that his work has been largely influenced by them.
Though a lot of controversies surrounded the Adani group, none of them worked to stop the further expansion of Adani. Later, Adanmi decided to enter the Infrastructure world. That’s why he is also known as “The Intrapreneur”.
Gautam Adani has already acquired the world of exporting and Importing and he wants to expand his business in Infrastructure projects. They worked for Mundra Port and it became one of their early projects. However, after going through heavy losses from their Kandla Ports, Gautam Adani decided to convert the port into a Private Captive Port.
The Gujarat government decided to work with the ports and to accelerate the smooth functioning of these ports, Gujarat Government shared them with the public and Private companies. On the list, Mundra port was also listed.
After they grew up in Mundra Port, the Adani group jumped into Coal Trading. Because of this, the port started to gain heavy trust and many countries built their outlets there. Since the Adani group has already worked with Coal energy, they decided to expand themselves in Thermal Power generation.
After a few years, Citibank chose Adani Group for developing a non-LNG terminal at Hazira Port. In two years, the construction for the port started incredibly and the group expanded their business further.
Not only this, Guatuiam Adani’s ambition took him to greater heights. His first thermal Plant was set up in Mundra. The Thermal Powerplant was capable of generating 5,000 MegaWatts. This adds huge wealth to the Adani Groups and manipulates their numbers in the future. Adani’s thermal Power has already acquired a large sum of numbers in the Power production of the country. Despite having a small market, Adani Group has shown the power of its ideas through these initiatives.
Along with this, Adani expanded his business in the world and showed his supremacy in different parts of the world. He has flourished in his infrastructure business which is involved in Mines, Ports, power plants, Airports, Data centers, and Defense manufacturing.
Adani Group Accelerates Their Business in the Pandemic!
During the global pandemic, while the whole world was going through major financial v\cris and the country was generating huge losses because of the shutdown of many companies and groups, the Adani group emerged as one of the most powerful companies for the Indians.
It has been reported that during the Pandemic, the company added $79 billion to its total wealth. This is one of the historical events for the Adani group and also for the future of their company.
Furthermore, the Adani group has also expanded themselves and taken control of 7 Airports in the country. These numbers are almost one-quarter of the Airport Industry in the country. The group has also been introduced to boost its renewable energy capacity to 8-fold by the end of 2025.
Adani Group Enter the Defense Forces!
After expanding their business in almost every direction, the Adani group has decided to enter into the defense forces and production of Arms imports. They aim to lower the imports of Defense Arms and work for the betterment of the Indian Defense forces. The entry of the group into the Armed forces has also matched with the timing of the Indian Government's idea of lowering the imports of Arms from the other world.
Now, the Adani group has acquired all of the biggest sources around the countries and emerged as the global power in the world. The group has emerged as one of the largest Private port operators and has stakes in 13 ports across the eastern and western coast.
Not only this, but the Adani group has also emerged as the largest coal production company. Other than that, the company is the biggest coal Mining contractor company in the world.
Adani group has also worked in the airport sector and the group has not only added wealth but also helped themselves to become the biggest operators. Solar power has always been one of the major companies and the group has also become one of the biggest Solar power operators in the world.
Moreover, the Adani group has also become the largest in transmission and distribution, Gas distribution, thermal power, edible oil, Solar Manufacturing, logistics, Industrial land, defense and Aerospace, fruits, Road and rail, and Real Estate.
Adani Group & Controversy
It is difficult for any company to stay out of controversy while developing its empire, however, in the case of the Adani group, the controversy emerged more drastically than any other company.
In a report, we see how the Adani group has relied on the debt and started their work in the company. According to the report of Credit Suisse, Adani group is one of the largest burdened companies in the world.
From 2006-2007, Adani Group Revenue was calculated as $169.53 Billion while its debut was $43.53 billion. In 2012-2013, Adani's group revenue was $473.52 Billion against the debut of $811.22 Billion. At the time, Adani’s total debt was calculated around $20 Billion.