Gautam Shantilal Adani
24 June 1962
Ahmedabad, Gujarat, India
|Occupation||Chairman, Adani Group|
President, Adani Foundation
|Known for||Founder, Adani Group|
|Children||2, including Karan Adani|
Gautam Shantilal Adani (born 24 June 1962) is an Indian billionaire industrialist and philanthropist who is the chairman and founder of the Adani Group, an Ahmedabad-based multinational conglomerate involved in port development and operations in India. Adani is the president of the Adani Foundation, which is primarily led by his wife, Priti Adani.
He founded the Adani Group in 1988 and diversified his business into resources, logistics, energy, agriculture, defence and aerospace, amongst others. According to Forbes, his family's net worth is estimated to be around US$78.6 billion as of 9 June 2021. He was the second richest man in Asia and 13th richest man in the world according to Forbes, a spot that he attained in 2021. As of 2018[update] he had a 66% stake in Adani Ports & SEZ, 75% stake in Adani Enterprises, 73% stake in Adani Power, and a 75% stake in Adani Transmission. On 17 June 2021, Adani lost the title of the second richest man in Asia due to the sudden decrease in share prices of the Adani Group.
Adani was born on 24 June 1962 in a Jain family to Shantilal and Shanti Adani in Ahmedabad, Gujarat. He has 7 siblings and his parents had migrated from the town of Tharad in the northern part of Gujarat. His father was a textile merchant. He was educated at Sheth Chimanlal Nagindas Vidyalaya school in Ahmedabad. He enrolled for a bachelor's degree in commerce at Gujarat University, but dropped out after the second year. Adani was keen on business, but not his father's textile business.
In 1978, as a teenager, Adani moved to Mumbai to work as a diamond sorter for Mahendra Brothers. He worked there for 2–3 years before establishing his own diamond brokerage firm at Zaveri Bazaar, Mumbai.
In 1981, his elder brother Mansukhbhai Adani bought a plastics unit in Ahmedabad and invited him to manage the operations. This venture turned out to be Adani's gateway to global trading through polyvinyl chloride (PVC) imports.
In 1985, he started importing primary polymers for small-scale industries. In 1988, Adani established Adani Exports, now known as Adani Enterprises – the holding company of the Adani Group. Originally, the company dealt in agricultural and power commodities.
In 1991, the economic liberalization policies turned out to be favorable for his company and he started expanding the businesses into trading of metals, textiles, and agro products.
In 1995, he set up the first jetty. Originally operated by Mundra Port & Special Economic Zone, the operations were transferred to Adani Ports & SEZ (APSEZ). Today, the company is the largest private multi-port operator. Mundra Port is the largest private sector port in India, with the capacity of handling close to 210 million tons of cargo per annum.
In 1996, the power business arm of the Adani Group, Adani Power, was founded by Adani. Adani Power holds thermal power plants with a capacity of 4620 MW, the largest private thermal power producer of the country.
In May 2020, Adani won the world's largest solar bid by the Solar Energy Corporation of India (SECI) worth $6 billion. The 8000 MW photovoltaic power plant project will be taken up by Adani Green; and Adani Solar will establish 2000 MW of additional solar cell and module manufacturing capacity.
Adani is married to Priti Adani. He was abducted and held hostage for ransom in 1998, but was released without collecting the money. He was in the Taj Hotel during the 2008 Mumbai attacks.
Adani is the president of the Adani Foundation, funded through the Adani Group. It was founded in 1996. Other than Gujarat, the Foundation operates in the states of Maharashtra, Rajasthan, Himachal Pradesh, Madhya Pradesh, Chhattisgarh, and Odisha.
In March 2020, he contributed ₹100 crore to the PM Cares Fund through his group's philanthropy arm, to fight the Coronavirus outbreak. A contribution of ₹5 crore was made to the Gujarat CM Relief Fund and ₹1 crore to the Maharashtra CM Relief Fund.
Adani led diversified conglomerate Adani Group imported four ISO cryogenic tanks filled with 80 metric tones 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. In a Twitter post, Adani shared that each day his group is supplying 1,500 cylinders with medical oxygen to wherever they are needed in Kutch of Gujarat.
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