Gautam Adani
Encyclopedia
Gautam Adani (born June 24, 1962), is an India
n businessman. He is the chairman of the Adani Group
, a leading trading and export company of India. In March, 2011 Forbes
magazine announced that Adani is the 6th richest person in India with a personal wealth of US $10 billion. He is the first billionaire from the city of Ahmedabad
.
in Ahmedabad
, India
, to Shantilal and Shantaben Adani in a Gujarati Jain family. He had 7 siblings. Adani's parents had migrated from a community of entrepreneurs in Tharad
in north Gujarat.. Adani was born in the Seth ni Pol
area located in Ratanpol in Ahmedabad. He set out for Mumbai
to make a living with only a few hundred rupee
s at the age of 18.He studied at the Seth C. N. Vidyalya
school in Ahmedabad and later on at Gujarat University. Adani is a University dropout, he studied till his second year for a Bachelor's Degree in Commerce.
He worked in Mumbai as a diamond sorter at Mahindra Bros. After working there for two years, Adani, 20 at the time, set up his own diamond brokerage outfit at Zaveri Bazaar and made his first lakh
.
In 1981, one year later, his elder brother Mansukhbhai, bought a plastics unit in Ahmedabad and asked Gautam to run it. This marked the beginning of Adani's foray into global trading by beginning to import polyvinyl chloride
(PVC), a key raw material for manufacturing plastics. After the economic liberalisation, the import duty on various goods was slashed, and profits of Adani Exports, then his flagship company, grew immensely.
In 1997 he was kidnapped for ransom. 11 years later, he was again held hostage during the siege at Taj Mahal Palace & Tower
in Nov 2008.
It imported PVC and took on the giant Reliance Industries which produced PVC in India.
In 1993 the Gujarat government invited private companies to run the Mundra Port
, and in 1995 the contract was given to Adani.
In 2006, Mundra Port was developed into a Special Economic Zone
.
When he was a small trader, Adani's father in law accepted him as a husband for his daughter after an astrologer said "the boy will float in riches and his wife will be a queen".
They have two sons. Karan, 24, is pursuing his BS in Management from Purdue University
, USA. Jeet Adani, their younger son is 13 years old. Gautam Adani owns 2 private jets - a Beechcraft
jet purchased in 2005 and a Hawker
purchased in 2008.
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n businessman. He is the chairman of the Adani Group
Adani Group
The Adani Group is a Gujarat based Indian conglomerate with the industrialist Gautam Adani as its CMD and promoter. The core business of the group is Commodities Trading, edible oil Manufacturing, Mundra port operations and distribution of Natural Gas. Adani group has more than 50 companies under...
, a leading trading and export company of India. In March, 2011 Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine announced that Adani is the 6th richest person in India with a personal wealth of US $10 billion. He is the first billionaire from the city of Ahmedabad
Ahmedabad
Ahmedabad also known as Karnavati is the largest city in Gujarat, India. It is the former capital of Gujarat and is also the judicial capital of Gujarat as the Gujarat High Court has its seat in Ahmedabad...
.
Early Biography
Gautam Adani was bornin Ahmedabad
Ahmedabad
Ahmedabad also known as Karnavati is the largest city in Gujarat, India. It is the former capital of Gujarat and is also the judicial capital of Gujarat as the Gujarat High Court has its seat in Ahmedabad...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, to Shantilal and Shantaben Adani in a Gujarati Jain family. He had 7 siblings. Adani's parents had migrated from a community of entrepreneurs in Tharad
Tharad
Tharad is a town in Tharad taluka in the Banaskantha district of the state of Gujarat in India. It is the administrative center of Tharad taluka. Tharad is near the border of Gujarat, 40 km from the border with Pakistan and 15 km from the Indian state of Rajasthan...
in north Gujarat.. Adani was born in the Seth ni Pol
Pol (housing)
A pol is a housing cluster which comprises many families of a particular group, linked by caste, profession, or religion. Pols are typical of urban centres in Gujarat especially of Ahmedabad....
area located in Ratanpol in Ahmedabad. He set out for Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
to make a living with only a few hundred rupee
Rupee
The rupee is the common name for the monetary unit of account in India, Sri Lanka, Nepal, Pakistan, Mauritius, Seychelles, Maldives, and formerly in Burma, and Afghanistan. Historically, the first currency called "rupee" was introduced in the 16th century...
s at the age of 18.He studied at the Seth C. N. Vidyalya
Seth C. N. Vidyalya
Seth C. N. Vidhyalay is a high school in the Ambavadi area of Ahmedabad, Gujarat, India.One of the largest and the oldest schools of the state Gujarat and is also famous by the name "Shantiniketan of the Western India"The Campus is 72 Acres in area...
school in Ahmedabad and later on at Gujarat University. Adani is a University dropout, he studied till his second year for a Bachelor's Degree in Commerce.
He worked in Mumbai as a diamond sorter at Mahindra Bros. After working there for two years, Adani, 20 at the time, set up his own diamond brokerage outfit at Zaveri Bazaar and made his first lakh
Lakh
A lakh is a unit in the Indian numbering system equal to one hundred thousand . It is widely used both in official and other contexts in Pakistan, Bangladesh, India, Maldives, Nepal, Sri Lanka, Myanmar and is often used in Indian English.-Usage:...
.
In 1981, one year later, his elder brother Mansukhbhai, bought a plastics unit in Ahmedabad and asked Gautam to run it. This marked the beginning of Adani's foray into global trading by beginning to import polyvinyl chloride
Polyvinyl chloride
Polyvinyl chloride, commonly abbreviated PVC, is a thermoplastic polymer. It is a vinyl polymer constructed of repeating vinyl groups having one hydrogen replaced by chloride. Polyvinyl chloride is the third most widely produced plastic, after polyethylene and polypropylene. PVC is widely used in...
(PVC), a key raw material for manufacturing plastics. After the economic liberalisation, the import duty on various goods was slashed, and profits of Adani Exports, then his flagship company, grew immensely.
In 1997 he was kidnapped for ransom. 11 years later, he was again held hostage during the siege at Taj Mahal Palace & Tower
Taj Mahal Palace & Tower
The Taj Mahal Palace & Tower is a five-star hotel located in the Colaba region of Mumbai, Maharashtra, India, next to the Gateway of India. Part of the Taj Hotels, Resorts and Palaces, this building is considered the flagship property of the group and contains 565 rooms...
in Nov 2008.
Early Career and Adani Enterprises
In 1988 he set up an import-export company called Adani Enterprises.It imported PVC and took on the giant Reliance Industries which produced PVC in India.
In 1993 the Gujarat government invited private companies to run the Mundra Port
Mundra Port
Mundra Port and Special Economic Zone Limited manages the largest privately owned port in the country. The port project was initiated in 1988 by the Adani Group as a logistics base for their international trade operations when the sector was opened for private sector...
, and in 1995 the contract was given to Adani.
In 2006, Mundra Port was developed into a Special Economic Zone
Special Economic Zone
A Special Economic Zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws...
.
Personal and Family life
Adani is married to Priti, aged 46. She is a dentist and heads the Adani Foundation, of which she is the managing trustee.When he was a small trader, Adani's father in law accepted him as a husband for his daughter after an astrologer said "the boy will float in riches and his wife will be a queen".
They have two sons. Karan, 24, is pursuing his BS in Management from Purdue University
Purdue University
Purdue University, located in West Lafayette, Indiana, U.S., is the flagship university of the six-campus Purdue University system. Purdue was founded on May 6, 1869, as a land-grant university when the Indiana General Assembly, taking advantage of the Morrill Act, accepted a donation of land and...
, USA. Jeet Adani, their younger son is 13 years old. Gautam Adani owns 2 private jets - a Beechcraft
Beechcraft
Beechcraft is an American manufacturer of general aviation and military aircraft, ranging from light single engine aircraft to business jets and light military transports. Previously a division of Raytheon, it has been a brand of Hawker Beechcraft since 2006....
jet purchased in 2005 and a Hawker
Hawker Beechcraft
Hawker Beechcraft Corporation is an aerospace manufacturing company that builds the Beechcraft and Hawker business jet lines of aircraft....
purchased in 2008.