Gautam Adani is a prominent Indian businessman with an estimated net worth of $70 billion. He is a billionaire industrialist and philanthropist, recognised as the founder and chairman of the Adani Group—a global conglomerate with interests spanning various industries. He also heads the Adani Foundation, the group’s philanthropic arm. At several points, Adani has ranked as Asia’s wealthiest person and one of the richest individuals globally. In early 2022, his wealth stood at $75 billion, placing him 13th worldwide. Within five months, his fortune grew by $50 billion—more than any other billionaire during that time. By April 26, 2022, his wealth reached $125 billion, briefly making him the world’s fifth-richest person, ahead of Warren Buffett. For over ten years, he has consistently been among India’s wealthiest.
Early Life and Education
Born on June 24, 1962, in Ahmedabad, Gujarat, Gautam Adani was raised in a large family with seven siblings. He attended Sheth Chimanlal Nagindas Vidyalaya in Ahmedabad, then enrolled in Gujarat University to study commerce. However, he left during his second year without completing his degree.
Career Foundations
Adani began his career in 1978 when he moved to Mumbai to work as a diamond sorter at Mahendra Brothers. Soon after, his brother Mansukhbhai invited him to manage a newly acquired plastics facility in Ahmedabad. This opportunity marked his initial involvement in international trade, starting with PVC imports. By 1985, he had expanded into importing primary polymers for small-scale businesses.
The Rise of Adani Group
In 1988, Adani established the Adani Group with its main company, Adani Enterprises, focused on commodity trading. Within a few years, the group set up its own port in Mundra to support its operations. India’s 1991 economic liberalisation boosted the group’s growth, leading it to trade textiles, metals, and agricultural products.
In 1999, Adani Group entered the coal sector, initiating a second phase centred around major infrastructure projects such as power plants, ports, mines, and shipping. By 2006, it had ventured into electricity generation. Today, the Adani Group operates in 50 countries and generates annual revenues exceeding $15 billion.
Adani Enterprises, the group’s parent company, oversees several key subsidiaries:
- Adani Airport Holdings – airport operations
- Adani Wilmar – food processing
- Adani Road Transport – infrastructure development
Additional branches include Adani Cement, AdaniConneX (data centres), Adani Defence & Aerospace, Adani Solar, Adani Water, and Adani Welspun Exploration. Companies like Adani Ports & SEZ, Adani Power, and Adani Green Energy were once part of the main enterprise but have since become independent.
Sports Contributions
Apart from its business ventures, the Adani Group has been active in promoting sports. Notable among its initiatives is Garv Hai, launched ahead of the 2016 Olympics to support Indian athletes. Revived in 2020 and 2022, the programme focuses on developing talent in sports like boxing, archery, wrestling, and athletics. Early beneficiaries included boxer Shiva Thapa and wrestler Deepak Punia.
The group also established the Surguja Football Academy in Chhattisgarh. Moreover, it owns the naming rights to Adani Arena in Australia and to the pavilion end at the Narendra Modi Stadium in Ahmedabad.
Controversies
Over the years, Adani Group has been involved in several controversies. In 2014, environmental groups protested against a $21.5 billion mining and railway project in Queensland, Australia. Though some international banks refused financing, the project was eventually approved.
In 2010, managing director Rajesh Adani was arrested for tax evasion. Later, in 2017, Indian authorities accused the group of diverting funds to offshore tax havens, including one in Mauritius and a shell company in Dubai allegedly tied to the Adani family.
Philanthropic Work
Gautam Adani established the Adani Foundation in 1996 to promote sustainable development in India. The Foundation works in education, healthcare, livelihood support, and community development. It operates schools for underprivileged children and supports institutions like Adani Vidyalayas and Navchetan Vidyalaya.
It also founded the Gujarat Adani Institute of Medical Sciences, a pioneering public-private partnership in the education sector. Other initiatives include:
- Udaan – educational tours for students
- SuPoshan – reducing malnutrition in adolescent girls and expectant mothers
- Saksham – vocational training for women’s groups
The Foundation donated $13 million to India’s PM CARES Fund in 2020 to aid COVID-19 relief, along with major contributions to Gujarat and Maharashtra state relief funds.
Personal Life
Gautam Adani is married to Priti Adani. His life has included high-risk moments: in 1998, he was kidnapped and later freed. In 2008, he survived the Mumbai terrorist attacks while staying at the Taj Mahal Palace Hotel, one of the targeted sites.
