Last week, the country rejoiced as Gautam Adani surpassed Jeff Bezos on the world’s richest people list. The Indian Chairperson of the Adani Group only has Elon Musk to compete with now. Reportedly, his net worth stands at $155.7 billion (Rs 12.37 lakh crores).
This news became a celebration for India, as Mr. Adani trails the country’s path toward greater heights. Of course, everybody knows this business tycoon. But, how many of us know about his great personality? So, let’s celebrate his landmark achievement by getting to know him better.
Early Life
Born in 1962, Gautam Adani hails from a middle-class family in Ahmedabad, Gujarat. His father was a textile merchant. He completed his schooling in Ahmedabad and dropped out of the second year of his college.
Since the start of his adult life, Gautam Adani has always been fascinated with the idea of starting a business. So in 1978, he moved to Mumbai to work as a diamond sorter. Post that; he established his diamond brokerage firm in Zaveri Bazar.
Years later, in 1981, Gautam Adani’s brother invited him to manage the operations of a plastics unit. This paved the doorway for them to global trading. Going ahead with the import and export of polymers, Gautam Adani established Adani Exports in 1988. (now: Adani Enterprises).
1995 again came big for the Adani Group as they acquired the Mundra Port contract. In 1996, Adani Power was established and is today the country’s largest thermal power producer. And the rest is history.
Philanthropy
Gautam Adani currently heads the Adani Foundation as the president. The trust operates in Gujarat, Maharashtra, Himachal Pradesh, Rajasthan, Madhya Pradesh, Odisha, and Chattisgarh.
In addition, the Adani family donated Rs. 60,000 crores centenary birth anniversary of Gautam Adani's father, Shantilal Adani.
Lesser Known Facts of Gautam Adani
Mr. Adani became a self-made millionaire at the age of 20. Although he was born into a family that owned a textile business, he was keen on the idea of doing something of his own. Hence, his journey to Mumbai and the establishment of his Diamond brokerage firm.
- He is one of the survivors of the 26/11 Mumbai terror attacks.
- In 1998, Gautam Adani was kidnapped for a $1.5 million ransom.
- Gautam Adani owns a 400-crore property in Delhi called the Adani House.
- In 2018, Adani Power Ltd. got into a 6000 crore deal to acquire Udupi Power Corporation Ltd. The same was made possible in just 100 hours because of Gautam Adani’s excellent negotiation skills.
- The Mundra Port, the country’s largest private commercial port, is owned by the Adani Group.
- The credit for the thought behind India’s port-rail linkage policy goes to Gautam Adani, as he was the first person to have this thought. He then approached Nitish Kumar, the railway minister, for the same.
- He visited the Kandala port during his school days and decided that he wished to build something similar. From that day onward, he chased and fulfilled his dream with complete success.
- In May 2022, Gautam Adani entered the cement industry by winning the bid to buy the Indian Cement division of Holcim. In addition, he has pledged to invest $70 billion in renewable energy projects.
Mindset and Values
The two most prominent qualities that differentiate Adani are farsightedness and the ability to seize an opportunity. His success story is living proof of these attributes. When the Indian economy opened its doors to globalization, Gautam Adani recognized the opportunities and bagged an early mover advantage.
After its foundation in 1988, Adani Group’s operations were initially targeted at trading agricultural products and power. But in 1991, the game changed with the rise of the new-age Indian economy. So Gautam Adani took the plunge to make the most of the opportunity to diversify. Gradually, Adani Group set foot into power generation and transmission, coal trading and mining, and gas distribution.
Family and Businesses
Gautam Adani’s spouse, Preeti Adani, is a dentist by profession and the chairperson of the Adani foundation. They have two sons- Karan and Jeet Adani. The elder son Karan graduated from Purdue University, USA, and served as Adani Ports' CEO. In 2013, he married Paridhi Shroff, Cyril Shroff’s daughter.
Secondly, Jeet Adani also studied abroad and graduated from the University of Pennsylvania. In 2019, he returned to India and joined the company. Just recently, Karan Adani also took over as the chair of ACC. This cement major venture makes Rs. 16,151-crore revenue.
Just like his father, Karan is known for his hands-on approach and excellent execution skills. In addition, he also played a vital role in the acquisition of ACC and Ambuja Cements by the Adani Group in a $6.4-billion all-cash deal.
This acquisition aligns with Gautam Adani’s plans to become the most profitable cement manufacturer in the country. He aims to make it possible by doubling the company’s capacity. Mr. Adani witnessed a multifold rise in the country’s demand for cement, backed by economic growth and the government’s infrastructural development for margin expansion.
Life Lessons
Mr. Gautam Adan’s success story is an exemplary determination guide. Here are some important lessons to learn from his journey and story.
- Make the most of opportunities: Awaiting opportunities may work in some cases. But, the most successful people often don’t sit back waiting for them. Gautam Adani is the perfect example of the latter, as he portrayed the same throughout his career. He first saw the scope for diamonds, then ports, and seized them to the best potential.
- Negotiation and convincing skills: Having a vision is not enough. Having the skills to implement and fulfill the same is extremely important. Gautam Adani’s skills have proven to be beneficial in several instances. Even the country’s railway-port linkage policy is an example of the same.
- Prioritize your values and pay back to society: Gautam Adani is undoubtedly a man of solid ethics and unbending values. This system has helped him be on the right track throughout his journey. In addition, he is also involved in many philanthropic activities and firmly believes in “Growth with goodness”.
- Practise Diversification: The rule of nature says that change is the only constant in life. Gautam Adani vouches that the same applies to businesses. Time and again, he assured diversification of the business to adapt to the market situations. This is what makes Adani Group the third largest conglomerate to cross a market capitalization of $150 Billion.
Latest News
The group of companies led by Gautam Adani has overtaken Tata Group to be India’s most valued company. The firm’s capitalization at BSE crossed over Rs. 22 lakh crores.
