Gautam Adani Biography
Gautam Adani is India’s one of the most richest person and a Forbes Billionaire. Forbes has estimated his net worth of US $ 4.8 Billion in 2010.
Gautam Adani is the Indian Entrepreneur and a Business Tycoon. He is the Chairman of Adani Group, a leading Trading and Export Company in India.
Gautam Adani was born on 24th June, 1962 in Ahmedabad, Gujarat, India. He is right now living in the Ahmedabad city, one of the metro city of India.
He is the first billionaire from the Ahmedabad city.
Adani Group – Corporate Profile -
The Adani Group is a Gujrat based Indian conglomerate with the industrialist Gautam Adani as its CMD and promoter. The core business of the group is Commodities Trading, edible oil Manufacturing, Mundra port operations and distribution of Natural Gas. Adani group has more than 50 companies under it. The various companies under the group are:
- Adani Enterprises Ltd.
- Adani Power Ltd.
- Adani Retail Ltd.
- Adani Wilmar Ltd.
- Gujarat Adani Energy Ltd.
- Adani Mining ltd.
- Gujarat Adani Port Limited
- iCall India Limited
- Mundra Port and Special Economic Zone limited
- Adani Agri Logistics Limited
- Adani Agri Fresh Limited
- Adani Properties ltd
- Adani Welspun ltd.
The corporate headquarters of the company are in the city of Ahmedabad, India.
Adani is now in the power sector, too, coming up with a 4620MW thermal power project in Mundra, Kutch district, the first 2 units of 660MW have been completed as reported by March 2010.
Gautam Adani – Life History
Gautam Adani was born in Jain Family of Ahmedabad in 1962. His parents are Shantilal and Shantaben Adani.
Gautam has 7 siblings. And his parents were migrated from the town of Tharad which is situated in the northern Gujarat.
Adani was born in the Seth ni Pol are located in Ratanpol in Ahmedabad. He set out for Mumbai to make a living with only a few hundred rupees at a young age of 18 only.He studied at the Seth C. N. Vidyalya school in Ahmedabad and later on at Gujarat University. Adani is a University dropout, he studied till his second year for a Bachelor's Degree in Commerce.
He worked in Mumbai as a diamond sorter at Mahindra Bros. After working there for two years, Adani, 20 at the time, set up his own diamond brokerage outfit at Zaveri Bazaar and made his first lakh.
In 1981, one year later, his elder brother Mansukhbhai, bought a plastics unit in Ahmedabad and asked Gautam to run it. This marked the beginning of Adani's foray into global trading by beginning to import polyvinyl chloride (PVC), a key raw material for manufacturing plastics. After the economic liberalisation, the import duty on various goods was slashed, and profits of Adani Exports, then his flagship company, grew immensely.
Gautam Adani Wife, Sons & Children
Adani is married to Priti Adani. She is a dentist and heads the Adani Foundation, of which she is the managing trustee. They have two sons. Karan Adani, 20 is pursuing his BS in Management from Purdue University, USA. Jeet Adani, their younger son.
Gautam Adani owns 2 private jets - a Beechcraft jet purchased in 2005 and a Hawker purchased in 2008.
Yet, just over a decade ago, Gautam Adani was mostly in the news for the wrong reasons. In 1999, he attracted headlines for his kidnapping by underworld don Anees Ibrahim for reasons that never became clear; his release was allegedly secured by a Rs 3 crore ransom, information that was never confirmed. In 2002, he was detained by the Delhi police charges of cheating in a case instituted by a rival. Before that, he had been under scrutiny for alleged invoicing irregularities and money laundering and still later for possible complicity with rogue trader Ketan Parekh.
Today, the flagship of his Rs 27,000-crore empire, Adani Enterprises Ltd., has been rated among the 50 top performing Asian companies by Forbes magazine. His three listed companies — Adani Enterprises, Adani Power and Mundra Port and Special Economic Zone have a combined market capitalisation that places the group among India’s top 10 business houses. Adani himself was ranked India’s 10th richest Indian in November 2009.
Despite a fair amount of opposition from entrenched west-coast business rivals, Adani Enterprises managed to build enough critical mass to get listed on the stock exchange in 1992. Economic liberalisation gave him the space to think big. Mundra Port, one of the country’s first, and now among its most efficient, private ports, and its 100 sq km SEZ, one of India’s largest multi-product free-trade zones, are examples of his ability to convert opportunities into big business. The port currently handles 40 million tonnes of cargo, a figure that will go up to 100 million tonnes once a coal import terminal — the world’s largest — is commissioned in October 2010.
His proximity to powerful politicians like Gujarat Chief Minister Narendra Modi has probably not harmed his business either. A generous contributor to the Bharatiya Janata Party (BJP), the party in power in Gujarat, his group has been ranked ahead of Reliance and Torrent as the largest business house in the state. It was speculated that Adani bid for the Ahmedabad franchise of the Indian Premier League (IPL) cricket tournament at Modi’s urging, though the bid failed.