Gautam Adani is now the world’s second richest person. As of now, Gautam Adani is the only billionaire in the top-10 list after Elon Musk. In order to move up to this position in the Forbes Real Time Billionaire Index, Gautam Adani passed Bernard Arnault. He remains in third place on Bloomberg‘s Billionaire Index.
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The main source of Adani’s riches is its publicly held ownership interest in the Adani Group, which is where it got its start. According to a March 2022 stock exchange filing, he has a 75% ownership stake in Adani Enterprises, Adani Power, and Adani Transmission. He has 37% of Adani Total Gas, 65% of Adani Ports and Special Economic Zones, and 61% of Adani Green Energy under his control. These businesses are all situated in Ahmedabad and are all publicly listed.
Adani’s business journey
According to Bloomberg, Adani is India’s top port operator, producer of thermal coal, and trader of coal. Gujarat is where Gautam Adani was born. After dropping out of college, he traveled to Mumbai as a youngster and worked in the diamond industry before going back to his home state.
Polyvinyl chloride (PVC) imports for his brother’s plastics company marked the beginning of his international enterprise. Adani Enterprises, the group’s primary business for the import and export of goods, was founded by him in 1988.
In 1994, Adani Enterprises requested permission from the Gujarati government to establish a port facility at Mundra Port for the purpose of handling its own cargo. Adani chose to transform the project into a commercial port after realizing its potential. By personally negotiating with more than 500 landlords across India to construct India’s largest port, he created rail and road connectivity. In 2009, Adani started producing electricity.
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