Success Story Of Gautam Adani

The Success Story Of Gautam Adani -Ambitions turn to Reality

Business Success Stories

“I could never take orders from anyone”  – GAUTAM ADANI

India undoubtedly has given rise to the most notable billionaires even as family businesses have passed down from generation to generation. The country has witnessed a gradual increase in the number of billionaires in the last couple of years. Gautam Adani is an Indian business tycoon who is the founder of the Adani Group, a multinational conglomerate company headquartered in Ahmedabad, India.

Founded in 1988, the company is today a crucial player in coal trading, coal mining, oil & gas exploration, ports, multi-modal logistics, and power generation among others. Born into a business family, he without a doubt inherited his forefathers’ business acumen but did not develop any interest in the family’s textile business.

Adani was a very ambitious young man, he dropped out of school and moved to Mumbai from Ahmedabad to strive and seek his fortune. He first started with diamond brokering where he found great success within years and was soon a millionaire. He returned home on the behest of his brother to help him run a small plastics factory.

Gautam Adani | success story of Gautam Adani

 

 

 

 

 

 

 

 

An entrepreneur at heart, eventually Adani set up his own business, Adani Enterprises, which became the Adani Group’s flagship company. Initially dealing in the export and import of commodities, the business soon expanded to encompass coal mining, ports, power generation, agri infrastructure, edible oil & transmission, and gas distribution, among other ventures.

Adani is well known for being a risk-taker and his business strategy revolves heavily around excessive leverage and political patronage. His phenomenal success as a first-generation entrepreneur often leads to comparisons with another Gujarati entrepreneur, Dhirubhai Ambani, the founder of Reliance Industries. 

NET WORTH OF GAUTAM ADANI 

Billionaire Industrialist Gautam Adani is the third richest person in the world. Adani’s wealth stands at $152.2 billion (as of September 2022) as per the Bloomberg Billionaires Index. The 60-year-old billionaire trails Elon Musk and Jeff Bezos on the billionaires’ list. 

This is the first time when an Asian has made it to the list of the top 3 richest billionaires in the world. Other billionaires like Jack Ma, Mukesh Ambani, and other Asians have not climbed this high in history.

Must Read: Reasons Behind The Strategic Rise Of Gautam Adani

CAREER AND EARLY LIFE – A SELF-MADE BILLIONAIRE FROM GUJARAT 

Gautam Adani was born on 24 June 1962, in Ahmedabad, Gujarat, India, into a Bania family, to Shantilal and Shanta Adani. He has seven siblings. His family was involved in the textile business. He was ambitious and determined from a young age. He had little interest in academics and dropped out of school as a teenager. He later attended Gujarat University but did not stay to complete his degree. While he was interested in business, he had no intention of joining his father’s textile unit.

His entrepreneurial spirit made him leave Ahmedabad and move to Mumbai when he was 18. Possessing just a few hundred rupees, the young man was determined to make it big. He began working as a diamond sorter at Mahindra Brothers and set up his own diamond brokerage business after a couple of years. His business did well and he became a millionaire by the time he was 20. By this time his elder brother had newly purchased a plastic factory in Ahmedabad and asked Gautam Adani to help him in running it.

Adani returned to Ahmedabad and started working with his brother. He soon began commodity trading by importing Polyvinyl Chloride (PVC), a key raw material for manufacturing plastic, and visited South Korea where he made a deal for importing PVC.

In 1988, he established Adani Exports Limited (now known as the Adani Enterprises Ltd). The company initially dealt in agricultural commodities and power and eventually expanded over the years. The liberalization and economic reforms of 1991 boosted Adani’s business and increased revenues and profits for his company. The favourable business environment allowed Adani to expand his company rapidly.

In 1993, the Government of Gujarat invited private companies to run the Mundra Port and in 1995 Adani won the contract. It was initially operated by Mundra Port & Special Economic Zone Ltd which was later expanded into the Adani Ports and Special Economic Zone Limited (APSEZ). It is today India’s largest private multi-port operator.

Gautam Adani is the Founder of Adani Power Limited, the power business subsidiary of Adani Group, in 1996. The company is India’s largest private power producer and also the largest solar power producer in India. The Adani Group is an Indian multinational conglomerate and its headquarters is located in Ahmedabad, Gujarat. It was founded by Gautam Adani in the year 1988 as a commodity trading business, with the flagship company Adani Enterprises Limited. 

ALL ABOUT THE FAMILY OF THE BUSINESS TYCOON

Gautam Adani got married to Priti Adani and they have two sons. The elder son is named Karan Adani and the younger son is Jeet Adani. His wife, Priti is a dentist who also contributes in Gautam’s work as the managing trustee of the Adani Foundation, especially in the matter of education. She runs several campaigns for the education of children. Karan Adani has completed his graduation in Economics from Purdue University, USA. After completing his studies, he joined his father’s business.

Karan was appointed as the CEO of Adani Ports and SEZ (APSEZ) with effect from 1 January 2016. He has been overseeing the development of Adani ports across India since 2009.

Karan is fully handling the responsibility of Adani Group. In the Adani Group, he oversees daily operations. Karan has been handed over full responsibility of Adani Group. In the Adani Group, he oversees daily operations.

ABOUT ADANI GROUP & OTHER SUBSIDIARIES

Adani Group | success story of Gautam Adani
Credits: Moneycontrol

The Adani Group has become India’s third conglomerate to cross $200 billion in market capitalization. It has incubated several businesses such as renewable energy, transmission, and city gas distribution, among others. The current focus of the company is on different areas like solar manufacturing, defence, airports, roads, and green businesses.

The stock of Adani Group has surged over 120 per cent in only one month while Adani Wilmar has reported a gain of more than 87 per cent in the same period.

But what has led to the surge in the stock prices? Why is this happening?

The clear answer is the War between Russia and Ukraine. Yes, you read it right!

Due to the Russia-Ukraine War, the supply of the sunflowers oil has been interrupted due to which consumers are shifting their consumption to alternatives such as groundnut & mustard oil, soybean oil, etc. Furthermore, Indonesia is the world’s largest producer and exporter of palm oil but it had to curb its exports to maintain its domestic supply.

As the prices of oil are rising, Adani Wilmar has the perfect opportunity to increase its profits and position itself at the top in this financial year.

Read about Adani Wilmar, behind the making of Asia’s Richest Billionaire

Now, let’s take a look at what other Adani Companies are doing:

The Adani Group | success story of Gautam Adani

  • Adani Ports: One of the greenest port operations in the world, Adani Ports has hit a milestone of handling 300 million tonnes of cargo across its network of 12 ports well ahead of the year-end.
  • Adani Total Gas: It has recently entered into the electric mobility infrastructure sector by launching its first EV charging station in Ahmedabad, Gujarat which is located at ATGL’s CNG station in Maninagar.
  • Adani Enterprises: AEL has announced to make capital expenditure of more than ₹55,000 crores over the next few years in new energy, airport and road sectors. The airport business line of the company will see an infusion of at least Rs 14,000 crore over the next 3 years.
Also Read the Success Story of Mukesh Ambani

ADANI GROUP IN THE RACE TO BUY STAKES IN NDTV

Adani Group of Companies on 23rd August announced that it will indirectly buy a 29.18 per cent stake in NDTV (New Delhi Television Limited), laying out plans for a subsequent open offer for a stake of another 26% in line with Indian regulations.

After the announcement was made, NDTV issued a statement that this “was executed without any input from, conversation with, or consent of the NDTV founders.”

NDTV informed the stock exchanges that its promoters, Prannoy Roy and Radhika Roy are currently barred by the Securities and Exchange Bureau of India from accessing the securities transactions until November 26, 2022. Therefore, Adani Group would require approval from the market regulator to acquire stake in the news channel.

On 26th August 2022, Adani Enterprises through a regulatory filing to the stock exchanges said that prior approval is not required from SEBI for the allotment of the channel’s shares to its unit Vishvapradhan Commercial.

NDTV is one of the very few media groups that take a critical view of the ruling administration’s policies.

 

SURPRISING FACTS ABOUT GAUTAM ADANI

  • Gautam Adani was one of the hostages in the Taj Hotel during the tragic 26/11. Adani along with other hostages was hiding in the basement of the hotel. The next morning along with the other hostages, he was rescued by NSG commandos.
  • Gautam Adani dropped out of his B.Com in 2nd Year and moved to Mumbai. He worked as a diamond sorter in Zaveri Bazaar.
  • During his childhood, Gautam Adani visited Kandla Port on a school tour. He was awestruck by the mammoth port and he made a promise to himself to build a port of a similar scale when he grows up. He fulfilled his promise in 1988 when he won the contract to build and operate the Mundra Port. He scaled up the Mundra Port to become the biggest cargo port in India.
  • Gautam Adani has always been known for venturing into new and hot businesses. Adani has successfully entered the power generation and distribution business. Today Adani Power is the biggest private power generation company in India. Adani Group is also the biggest airport operator in India.
  • There’s a busy suburb on the western line of Mumbai city called Borivali. It is one of the favourite destinations for those coming from Gujarat. In Borivali, Gautam Adani started his journey at the age of 18 in the year 1978!

“There are two turning points in my life. One in 1985, when the government relaxed import norms under open general license (OGL) for actual users. I began imports of raw materials—polymers—and entered trading. The second turning point came in 1995 when we decided to get into the port sector, as part of the group’s overall strategy to get into asset-building,” – Gautam Adani

The journey of Gautam Adani and Adani Group is a source of motivation and a beacon of focus, determination, and success. In an era with growing entrepreneurship success stories, success is many a time measured by the value one has in terms of money. The success, however, is years of hard work and struggle which brings people where they are today.

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