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What is Gautam Adani’s Net Worth?
Indian businessman Gautam Adani has a net worth of $108 billion. Gautam Adani is a billionaire businessman and philanthropist from India. He is best known as the founder and chairman of the multinational conglomerate Adani Group. He is also the head of the Adani Foundation, which helps people in need.
| Net Worth: | $108 Billion |
| Date of Birth: | Jun 24, 1962 (60 years old) |
| Gender: | Male |
| Profession: | Businessperson |
| Nationality: | India |
Gautam Adani has been the richest person in Asia and one of the richest people in the world at different times. Gautam’s net worth at the start of 2022 was about $75 billion, which made him about the 13th richest person in the world. Over the next five months, Gautam’s net worth grew by $50 billion, which was a lot more than any other billionaire during that time. On April 26, 2022, Gautam passed Warren Buffett as the fifth richest person in the world because he had a net worth of $125 billion.
Early Life and Education
Gautam Adani was born in Ahmedabad, Gujarat, India, on June 24, 1962, to Shantilal and Shanti. There are seven of them. Adani went to the Sheth Chimanlal Nagindas Vidyalaya in Ahmedabad to get an education. He then went to Gujarat University to study commerce, but he quit after his second year.
Career Beginnings
In 1978, Adani moved to Mumbai to work at Mahendra Brothers as a diamond sorter. A few years later, his brother Mansukhbhai asked him to run the Ahmedabad plastics factory that he had just bought. With this business, Adani got his start in international trade by bringing in PVC. In 1985, he started bringing in raw polymers for small businesses.
Adani Group
Adani started Adani Group as a business to trade goods in 1988. It was a partnership between Adani Enterprises, the main company, and Adani Group. A few years later, the group set up its port in Mundra so that it could trade from there. Indian economic liberalisation in 1991 was good for Adani Group, which then grew its business to include trading in textiles, metals, and agricultural goods. In 1999, Adani Group began trading coal. This was the start of the second phase of the company, which focused on building large infrastructure assets like ports, power plants, ships, and mines. In 2006, Adani Group started making electricity as a business. The group as a whole works in 50 countries around the world and makes more than $15 billion a year.
Adani Enterprises is the parent company of the Adani Group. It has three main subsidiaries: Adani Airport Holdings, which runs airports, Adani Wilmar, which processes food, and Adani Road Transport, which builds roads. Adani Cement, AdaniConneX, Adani Defence & Aerospace, Adani Mining, Adani Solar, Adani Water, and Adani Welspun Exploration are some of the other companies that are part of Adani Group. Adani Ports & SEZ, Adani Power, Adani Transmission, Adani Green Energy, and Adani Gas were all parts of Adani Enterprises that were eventually spun off.
Sports Initiatives
Adani Group does a lot of business in the industrial world, but it also has several sports-related projects. Garv Hai is one of them. It is a nationwide programme that was made right before the 2016 Summer Olympics to support and promote Indian athletes. The programme will be brought back in 2020 and 2022. It will focus on improving archery, boxing, wrestling, shooting, and athletics. During its first run, the programme helped athletes like Shiva Thapa, a boxer, Deepak Punia, a wrestler, and Inderjeet Singh, who throws shots.
The Surguja Football Academy in Chhattisgarh is one of the other sports programmes run by the Adani Group. The group also has the right to name the Adani Arena in Rockhampton, Australia, and the pavilion end of the Narendra Modi Stadium in Ahmedabad.
Controversies
Over the years, Adani Group has been in several controversies. When it started a $21.5 billion, 86,000-acre mining and rail project in Queensland, Australia’s Galilee Basin in 2014, environmentalists criticised it. Due to the uproar, some international banks refused to fund the operation. In the end, though, the Australian government gave its approval.
In another controversy, Rajesh Adani, the head of Adani Enterprises, was arrested in 2010 on charges of not paying taxes. Seven years later, Indian customs said that Adani Group was moving millions of dollars from its books to overseas tax havens owned by the Adani family. One of Adani’s brothers owned an offshore company in Mauritius. Adani was also accused of secretly moving the money through a “shell company” in Dubai.
Philanthropy
In 1996, Adani set up the Adani Foundation through the Adani Group. It was made to help India grow and develop in a way that is sustainable through several development projects. The Foundation focuses on education, health care, living in a way that is good for the environment and building community infrastructure. It has built free schools for poor children in Ahmedabad, Surguja, and Bhadreshwar, and it also pays for schools like Adani Vidyalayas and Navchetan Vidyalaya. In higher education, the Adani Foundation set up the Gujarat Adani Institute of Medical Sciences. This was the first time the Foundation and the Gujarat government worked together in a public-private partnership.
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The Adani Foundation has also started programmes like Udaan, which helps young students go on educational trips, SuPoshan, which aims to reduce malnutrition in teenage girls and pregnant women, and Saksham, which helps members of female-led organisations learn new skills and get training for jobs. The Adani Foundation’s first act of charity was to give $13 million to the PM CARES Fund in 2020 to help fight the COVID-19 pandemic. It also gave a lot to the Gujarat Chief Minister’s Relief Fund and the Maharashtra Chief Minister’s Relief Fund.