Adani’s wealth multiplied 2.48 times in the last 2 years
Net Worth 2016: $3.5 B
The 51-year old Adani is the 167th richest person in the world, and his wealth multiplied 2.48 times in the last 4 years. According to Hurun Rich List, Adani is the fifth richest person in India with a networth of ₹94,500 crore.
The billionaire promoter of Adani Group — that has businesses spanning from real estate to power to infrastructure. He started off as a trader, and three years later he started Adani Enterprises with a capital of ₹500,000.
In 25 years, Gautam Adani built one of India's largest infrastructure companies worth ₹4700 crore.
Today, the Adani Group is a $12 billion (revenue) conglomerate. The group saw 16-fold growth from 2002 to 2012 at $8.7 billion in revenue
He derives his wealth from 62% stake in Adani Ports & Special Economic Zone
Net Worth 2017: $5.8 B
Most of the Adani’s wealth comes from his 62% stake in Adani Ports & Special Economic — a spin off from Adani Enterprises in 2015. He controls 75% of all the five Adani companies — Adani Enterprises, Adani Power, Adani Transmissions and Adani Gas.
The Adani Group — which constitute of six companies — saw turnover ₹77,000 crore with ₹20,141 crore as operating profits in 2017-18. He also built India’s largest edible oil refinery that produces 10,105 tonnes of oil per day.
Over the course of six years, the group has expanded its operations in its port, coal imports, coal mining, power generation, city gas distribution and edible oil imports. He also has business interests in airports, urban water management, small and medium sector lending, power transmission and distribution, data centres, aerospace and defence.
Adani Group won 25 out of 126 contract bids awarded by the Indian Government
Net Worth 2018: $9.7 B
The growth of Adani group between 2014 and 2019 can be credited to the Indian government. The conglomerate were growing even when other infra companies were not — though with lower profits.
The group reportedly announced capital expenditure worth ₹167,000 crore for acquisitions and new businesses. A factor for this success could be Adani’s close relations with PM Narendra Modi.
Adani shares a symbiotic relationship with Modi
Net Worth 2019: $8.7 B
The government awarded a record number of contracts at 126 to set up fuel stations and piped natural gas across India. And, Adani won as many as 25 of these.
Adani shares a symbiotic relationship with Modi. His businesses started expanding in his home state Gujarat when Modi became the chief minister in 2001.
In 2013, the group was operating 44 projects which rose to 92 by the end of 2019. However, the group also raked up huge debt to the tune of ₹ 99,181.09 crore in 2018.