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Gautam Adani in striking distance of entering the top 20 richest club once again

In 2020, there were only four Indians in the global top 100 rich list, now there are seven

Gautam Adani has become a legend today by taking his Adani Group’s businesses to new heights. His contribution to the growth of Indian infrastructure and economy are highly significant. Engaged in a wide range of businesses from coal mining, exploring gas and oil to power generation and ports, the Adani group is one of the biggest operators of ports in the nation. A great inspiration to the aspiring entrepreneurs, Gautam Adani has a number of interesting things about him. Here are 10 interesting facts that will make our eyebrows raise in admiration of this business legend. 1. A school dropout Gautam Adani was a school drop out from the commerce department of CN Vidyalaya in Ahmedabad. Since long, Mumbai’s thriving diamond business allured him. He mastered the insider tricks of the business within three years. 2. An awesome visionary During his school days, Adani visited Gujarat’s Kandla Port. On that day, he decided he would also build something like that in his life or even bigger than that. From that day, he chased his dream which came true in a bigger dimension. 3. He paved his own road to growth Gautam Adani was born in a family owning a textile business. But, he was never interested in his family business and made his first million within three years of his Mumbai life as a diamond broker. Adani was a self-made millionaire at the age of 20. 4. Sealed a 6,000 crore deal within 100 hours With his amazing negotiation skills, he obtained the Udupi Thermal Power Plant in a 6,000 crore rupees deal. The entire negotiation process lasted for not more than 100 hours. 5. His company is the biggest private power producer in the country Adani power limited is the power business of the Adani Group that owns a number of thermal power plants that produce up to 4620 MW. His company is the largest private power producer and the largest solar power producer in the country. 6. Gives about 3% of the Group’s earnings for philanthropic activities The Adani foundation is run with 3% of the profits he makes from the Adani Group ventures. Adani Vidya Mandir School in Ahmedabad provides free education to children from low-income families. 7. Through his port project, he realized his childhood dream In 1995, the Adani Group secured the contract for privately running the Mundra Port in Gujarat. Gautam turned it into the largest private port in India thus realizing his childhood dream in a manifold. 8. His group ranks high in the infrastructure segment Adani Group is ranked as the country’s most trusted infrastructure brand in “The Brand Trust Report 2015”. 9. He works with a mantra In an interview with the press people, he said that he works with a mantra that steered his way towards success. Throughout his entire life, he focused on trying rather than getting obsessed with the results. 10. He is the brain behind India’s port-rail linkage policy He approached the then Railway Minister of India Nitish Kumar and convinced him about the national importance of a scheme that would connect the country’s ports with the main railways. Following this, the port-rail linkage policy of the government was crafted. See Also - <a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms">Top 10 richest people in the world</a> <a href="https://www.businessinsider.in/entertainment/news/top-10-richest-actresses-of-india/articleshow/72018327.cms">Top 10 Richest Actress in India </a> <a href="https://www.businessinsider.in/meet-the-top-10-richest-actors-in-india/articleshow/69645149.cms">Top 10 richest actor in India</a>

Gautam Adani - Some interesting facts about Gautam Adani that you should know

<keyword id="2628697" type="General" weightage="50" keywordseo="billionaire-mukesh-ambani" source="Orion">Billionaire Mukesh Ambani</keyword>'s <keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on <keyword id="6373044" type="General" weightage="80" keywordseo="forbes" source="Orion">Forbes</keyword>' latest Global 2000 list of public companies worldwide. The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets, and market value, Forbes said while releasing the 2023 ranking of the world's top 2,000 companies. JPMorgan, America's biggest bank with USD 3.7 trillion in assets, is at the top of the list for the first time since 2011 and has emerged stronger from this spring's regional banking crisis, with more deposits and opportunistic acquisition of the failed First Republic Bank, it said. <keyword id="6358963" type="General" weightage="50" keywordseo="warren-buffett" source="Orion">Warren Buffett</keyword>'s Berkshire Hathaway that topped the list last year, fell to the 338th position in the latest list due to unrealised losses in its investment portfolio. Saudi oil behemoth Aramco is at 2nd position followed by three giant-sized state-owned Chinese banks. Technology giants Alphabet and Apple are at 7th and 10th place, respectively. Oil-to-telecom conglomerate Reliance, with sales of USD 109.43 billion and profit of USD 8.3 billion, is the top most-ranked Indian firm at the 45th spot, climbing from the 53rd position it had held in last year's ranking. Reliance was ranked ahead of well-known names like Germany's BMW Group, Switzerland's Nestle, China's Alibaba Group, US-based Procter &amp; Gamble and Japan's Sony. State Bank of India climbed to 77th spot from 105th in the 2022 ranking. HDFC Bank is at 128th position (153 in 2022) and ICICI Bank is at 163 (204 in 2022). Other Indian firms on the list include state-owned Oil and Natural Gas Corporation at 226 and HDFC (232). Life Insurance Corporation (LIC) made its maiden entry at 363 while <keyword id="6357585" type="General" weightage="50" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) slipped to 387th rank from 384 last year. Axis Bank (423), NTPC (433), Larsen &amp; Toubro (449), Bharti Airtel (478), Kotak Mahindra Bank (502), Indian Oil Corporation (540), Infosys (554), Bank of Baroda (586), Coal India (591), Tata Steel (592), Hindalco (660) and Vedanta (687) are other notable Indian firms on the list. In all, 55 Indian firms figured on the list. Three firms of the conglomerate helmed by billionaire Gautam Adani, whose group faced a scathing attack from a US short seller earlier this year that lead to him losing the world's third richest tag, figured in the list. The three Adani Group firms in the list include Adani Enterprises at 1062, Adani Power at 1488, and Adani Ports &amp; Special Economic Zones at 1598. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/xiaomi-pad-6-redmi-buds-4-active-launched-in-india-price-specifications-and-more/articleshow/100959781.cms">Xiaomi Pad 6, Redmi Buds 4 Active launched in India – price, specifications and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/iphone-users-here-are-some-ios-17-tips-and-tricks-to-note/articleshow/100960215.cms">iPhone users, here are some iOS 17 tips and tricks to note</a>

Reliance climbs 8 spots to 45th rank on Forbes' Global 2000 list

ealth does not remain static especially during the fluctuating industry scenario today. India has produced several billionaires who occupy a significant number of slots on the list of wealthiest persons in the world today. Here is the list of the top 10 richest persons in India as per their latest real time Forbes data on 11 October 2021. 1. Mukesh Ambani - $102 billion The wealthiest person in India, Mukesh Ambani of Reliance Industries occupies the Tenth slot in the world’s richest persons’ list. Mukesh Ambani has a net worth of $102 billion. Much of Mukesh’s wealth ensues from the petrochemicals and oil and gas businesses built by his father Dhirubhai Ambani ⁠— a business icon in his own right— but Mukesh is pivoting to more consumer-facing businesses like telecom and retail. Reliance Jio is one of the largest telecom networks in India today and has <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-jio-compared-to-alibaba-and-tencent/articleshow/77059624.cms">already raised over $20 billion in recent months</a> and the next leg of fundraising <a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">will be for retail</a>. 2. Gautam Adani - $71.7 billion Gautam Adani’s net worth as per the latest forbes records is $71.7 billion. He is the Second <keyword id="7413735" type="General" weightage="20" keywordseo="richest-person-in-india" source="Orion">richest person in India</keyword> and ranks 15 on the list of the world’s richest. Apart from Mundra Port, the largest in India, his wealth-generating portfolios include a range of commodities, power generation including renewable energy (like solar farms), and transmission to name a few. 3. Shiv Nadar - $31.5 billion With his $31.5 billion estimated net worth, Shiv Nadar ranks as the third richest person in India. HCL Technologies founded by him is a (₹) 274826 crore (market value) company and one of the largest software services exporters in the world today. With its presence in over 45 countries on the globe, HCL Technologies makes Shiv Nadar claim the 41th slot in the list of world’s richest persons. 4. Radhakishan Damani &amp; Family - $ 22.1 billion Radhakishan Damani’s net worth of $22.1 billion, which makes him the fourth richest person in India today. He occupies the 101 position in the global rich list. Radhakishan Damani is a veteran Mumbai stock market investor who founded <a href="https://www.businessinsider.in/business/news/radhakishan-damani-has-a-string-of-challenges-ahead-of-him-and-falling-profits-at-dmart-dont-help/articleshow/76936913.cms">the supermarket chain DMart </a>which went public in 2017, and eventually went on to be the world’s most-valued retail chain for its unique model that makes the holding company Avenue Supermarts more profitable than many of its peers. 5. Savitri Jindal &amp; Family - $18.6 billion Standing at the 106th position in the world and the richest woman in India is Savitri Jindal, the 70-year-old chair of a multibillion dollar conglomerate, who's worth $18.6 billion. India's women billionaires also include the heads of pharmaceutical, software, and consumer goods companies. 6. Cyrus Poonawalla - $18.2 billion Ranked as the 6th wealthiest person in India, Cyrus Poonawalla has a net worth of $18.2 billion. He founded the Serum Institute of India in 1966 and it is today the largest producer of vaccines for measles, influenza and polio. At present, the company is also co-developing two vaccines for COVID-19 and has a <a href="https://www.businessinsider.in/science/health/news/adar-poomawala-says-oxfords-covid-vaccine-is-expected-to-hit-the-indian-market-in-the-first-quarter-of-2021/articleshow/77107541.cms">significant lead over other similar researches that are underway</a>. In the world’s wealthiest persons list he ranks in the 110th position. 7. Lakshmi Mittal - $ 17.6 billion The Chairman and CEO of ArcelorMittal, Sunil Mittal has a net worth of $17.6 billion and ranks as the Seventh richest person in India. His wealth status positions him in the 115 place on the world’s richest persons list. He is known for turning sick steel producing companies into profitable ventures across the world. He most recently bagged the bankrupt Essar Steel in India, which was owned by the Ruia family. 8. Kumar Birla - $16.1 billion Standing at the 131th position in the world’s richest persons’ list, Kumar Birla has a net worth of $16.1 billion, which makes him the Eighth wealthiest person in India. The head of Aditya Birla Group which he inherits for the fourth generation in row, his group is concerned with producing cement and aluminum alongside retail, telecom and financial services. 9. Uday Kotak - $16.1 billion The founder of Kotak Mahindra Bank, Uday Kotak, occupies the fifth position on the list of India’s richest. With a net worth of $16.1 billion, Kotak takes 132nd place on the world’s richest persons’ list. 10. Dilip Shanghvi - $14.4 billion The tenth richest person in India is Dilip Shanghvi whose latest net worth is $14.4 billion. The founder of Sun Pharma, Dilip Shanghvi has turned his firm into the largest player in the manufacturing of specialty generic drugs. He has also invested in energy and oil ventures. On the world’s richest persons’ list, he ranks in the 146th position. See Also - <a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms">Top 10 richest people in the world</a> <a href="https://www.businessinsider.in/top-10-largest-economies-in-the-world/articleshow/70547252.cms">Top 10 largest economies in the world</a> <a href="https://www.businessinsider.in/finance/news/list-of-top-20-richest-people-in-the-world/articleshow/74475220.cms">Top 20 richest people in the world</a>

Meet the top 10 richest person in India

<ul class="summary-list"><li>Gautam Adani is no longer Asia's richest person, after falling to 15th place on Forbes' billionaires list.</li><li>The Indian industrialist has lost over $50 billion as Adani Group stocks continue a weeklong selloff.</li></ul>Indian industrialist Gautam Adani is no longer Asia's richest person as a rout in his conglomerate's stocks intensified, after a bombshell <a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener">report</a> by short-seller Hindenburg Research.He now has an estimated net worth of $74.7 billion and ranks as the world's 15th wealthiest person on <a href="https://www.forbes.com/real-time-billionaires/#1d336b613d78" target="_blank" rel="noopener">Forbes' billionaire list</a>, which updates the value of richest people's public holdings in real-time when their stock markets are open. He was overtaken by Mukesh Ambani, the chairman of Reliance Industries who is worth $83.7 billion and ranks 9th on the list.Adani had ranked 3rd on Forbes' list as recently as at the start of last week, before Hindenburg accused the conglomerate of "pulling the largest con in corporate history" by engaging in stock manipulation and accounting fraud. The group has <a href="https://www.adanienterprises.com/newsroom/media-releases/Media-Statement-on-Hindenburg-Research-Report" target="_blank" rel="noopener">dismissed</a> the report as "misinformation and stale, baseless and discredited allegations." The founder and chairman of the Adani Group has seen his fortune shrink by <a href="https://www.forbes.com/sites/siladityaray/2023/02/01/controversy-embroiled-gautam-adani-loses-asias-richest-title-to-mukesh-ambani/?sh=760651536765" target="_blank" rel="noopener">$50 billion</a> in the wake of the short-seller report, as his business empire's stocks continued to tumble on Wednesday, just one day after he managed to raise enough funds to <a href="https://markets.businessinsider.com/news/stocks/adani-completes-share-sale-market-rout-hindenburg-fraud-allegations-2023-1">secure the $2.5 billion share sale</a> of his flagship company Adani Enterprises.While some took India's largest follow-on share issue as a sign that investors were sticking by the conglomerate despite the scathing Hindenburg <a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener">report</a>, shares in Adani Enterprises <a href="https://www.investing.com/equities/adani-enterprises" target="_blank" rel="noopener">sank nearly 30%</a> on Wednesday. All of the flagship firm's six other listed companies — with businesses related to power, ports, transmission, gas, green energy, and food — also reported declines. "There was a slight bounce yesterday after the share sale went through, after seeming improbable at a point, but now the weak market sentiment has become visible again after the bombshell Hindenburg report," Ambareesh Baliga, a Mumbai-based independent market analyst, told <a href="https://www.reuters.com/business/adani-group-stocks-resume-fall-after-25-bln-share-sale-goes-through-2023-02-01/" target="_blank" rel="noopener">Reuters</a>. "With the stocks down despite Adani's rebuttal, it clearly shows some damage on investor sentiment. It will take a while to stabilize," Baliga said.

Gautam Adani isn't Asia's richest person any more after losing over $50 billion as his companies' stock rout deepens

<ul><li><keyword id="111343" type="General" weightage="20" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword> is ranked 4th in the world with a total net worth of $125 billion.</li><li>Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion.</li><li>The next rank from India is number 45 for <keyword id="6419840" type="General" weightage="20" keywordseo="Azim-Premji" source="Orion">Azim Premji</keyword> of Wipro with a net worth of $ 24.6 billion.</li></ul> The double As - Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one. There was a time when <keyword id="232460" type="General" weightage="20" keywordseo="Tata-and-Birla" source="Orion">Tata and Birla</keyword> were synonyms for India's rich. Every region had its own wealthy like the Shrirams, Thapars, Nandas, and Modis in the north or the Bangurs in the east or the Mafatlals, Walchands, Kirloskars, Khataus, Sarabhais and Lalbhais in the west and the M.A. Chidambaram group in the south. Over time, many groups have floundered and fallen on bad times. There are many defining moments in this journey which saw a debilitating impact on family industrial groups. The year 1964 was a turning point because this was when the Monopolies and Restrictive Trade Practices Commission was established. By that year, the MRTP Commission had finished collecting and sifting information on Indian big business and hence reliable data was available. The next interesting inflection point came in 1991, when the P.V. Narasimha Rao administration introduced the New Economic Policy. This is where it all changed - India's most radical policy document in the form of the New Industrial Policy - the Licence Permit Raj was scrapped on 24 July 1991. Democratic socialism had been consigned to the rubbish heap of history - Licence Raj, which was in place for four decades, came to an end with the new industrial policy announced by Finance Minister Manmohan Singh and Prime Minister P.V. Narsimha Rao, who also held the portfolio of Industries Minister. The New Industrial Policy proposed getting rid of Monopolies and Restrictive Trade Practices and abolishing industrial licensing for all but 18 industries. Foreign equity holdings were proposed to be raised by 51 per cent in a project. Indian industry was free of controls and bureaucracy like never before. Over the last 30 years, India Inc had been turned on its head. As per the Bloomberg Billionaires Index now, Gautam Adani is ranked 4th in the world with a total net worth of $125 billion. Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion. However, after Adani and Ambani the gap widens by a large extent and is then taken up by the software czars. The next rank from India is number 45 for Azim Premji of Wipro with a net worth of $ 24.6 billion. Shiv Nadar of HCL Technologies is at number 51 on the index with a net worth of $22.8 billion. The representation from India is then only at number 101 with Dilip Shanghvi with a net worth of $14.9 billion followed by Cyrus Poonawalla at 102 with $14.8 billion. Lakhsmi Mittal is at 103 with a net worth of $14.7 billion. Uday Kotak is ranked 106 with a net worth of $13.7 billion. Savitri Jindal is ranked at 119 on the Bloomberg Billionaires Index with a net worth of $12.9 billion. Sunil Mittal is ranked at 134 with a net worth of $12.2 billion. Kumar Birla is at 159 with a net worth of $10.8 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/over-2-49-crore-unaccounted-cash-seized-in-hyderabad/articleshow/94750636.cms">Over ₹2.49 crore unaccounted cash seized in Hyderabad</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/this-giant-swing-in-manali-runs-on-ai/articleshow/94741834.cms">This giant swing in Manali runs on AI</a>

Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

<ul><li>India’s richest and world’s third richest person <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> was in the hot seat on Rajat Sharma’s ‘Aap Ki Adalat’ show on Saturday.</li><li>In the hour-long show, the billionaire from Gujarat addressed several controversial topics like his closeness with the ruling BJP, his group debt and more.</li><li><keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> revealed that Reliance Industries’ founder, the late Dhirubhai <keyword id="10924" type="General" weightage="80" keywordseo="ambani" source="Orion">Ambani</keyword> is his role model, and that Mukesh Ambani is a very good friend.</li></ul>India’s richest and world’s third richest person Gautam Adani was in the hot seat on Rajat Sharma’s ‘Aap Ki Adalat’ show on Saturday. In the hour-long show, the billionaire from Gujarat addressed several controversial topics like his closeness with the ruling BJP, and Mukesh Ambani, his closest rival. “To become successful, discipline and hard work is the only formula, leave the rest to God,” Adani said in the opening segment of the<a href="https://www.youtube.com/watch?v=pYKPBgNPlVo"> show</a>. <cmsannotation type="cmsannotation" annotationid="‘Doubting the class topper who achieved the first rank’" comment="subhead" text="‘Doubting the class topper who achieved the first rank’">‘Doubting the class topper who achieved the first rank’</cmsannotation> The show, which is known to make top celebrities answer the most uncomfortable questions about themselves, started off with the political connections that Gautam Adani allegedly enjoys. The opposition parties have termed Adani’s meteoric rise as a case of “<a href="https://www.indiatoday.in/india/story/rahul-gandhi-bharat-jodo-yatra-delhi-red-fort-address-2313120-2022-12-24">crony</a> capitalism”. He is known to be close to the ruling BJP government. One of Adani’s frequent critics is Rahul Gandhi, senior leader of the primary opposition party, the Indian National Congress. The show’s anchor Sharma pointed out how Gandhi has been critical of Adani over the past eight years, calling him “ungrateful”, amongst other things. On this, Adani said, “Rahul Gandhi is a senior leader of the Congress party. As an industrialist, I think it’s not good that I pass a comment about him. He’s a respected leader and wants the progress of the country. Sometimes in the heat of politics, he makes a comment, but I don’t consider it anything more than a political comment.” Adani added that his companies don’t bag projects in only BJP-ruled states. “We want to make maximum investments in every state. Adani group is happy that it is working in 22 states, and not all of them are ruled by the BJP,” he said. “I can say with clarity that we do not have any problem with any state government. We work in Left-ruled Kerala, with Mamata Didi in West Bengal, in Naveen Patnaikji’s Odisha, with Jagan (in Andhra Pradesh), and KCR (in Telangana),” he added. <div type="Article" hostid="261" msid="96610248" title="Gautam Adani: Man of the year" mstype="2" mssubtype="0"></div> Gandhi also alleged that the Modi government has given away business in key areas like mining, green energy, power and others to Adani’s group companies. On this, Adani said, “We have not done any work without bidding. We don’t enter any business without bidding or merits. Adani’s group’s philosophy has been to not touch anything without bidding.” “This is like doubting how the class topper has achieved the first rank,” he quipped. <cmsannotation type="cmsannotation" annotationid="‘Lenders don’t give loans based on what someone says’" comment="subhead" text="‘Lenders don’t give loans based on what someone says’">‘Lenders don’t give loans based on what someone says’</cmsannotation> Adani’s rise has also been criticized for being <a href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-overly-ambitious-growth-plans-can-spiral-into-a-massive-debt-trap-fitch/articleshow/93725014.cms">funded by debt</a>. Sharma pointed out that Adani’s critics say he has over ₹2 lakh crore worth of debt in the books of his companies. Responding to this, Adani said, “Our credit rating is equal to that of India’s sovereign rating. We have brought down the share of loans taken from banks in India to 35% of our total debt now, from 80% in 2013.” “The rest of it is from outside India, and those lenders don’t give loans based on what someone says in India. So, this allegation is entirely baseless,” he added. <div type="Article" hostid="261" msid="91829090" title="Understanding Gautam Adani’s rise: a story on how to generate wealth via hope, equity and of course debt" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="‘Mukesh bhai is a very good friend’" comment="subhead" text="‘Mukesh bhai is a very good friend’">‘Mukesh bhai is a very good friend’</cmsannotation> As Adani rose through the ranks of the world’s richest, he also displaced Mukesh Ambani as India’s richest man — who had been holding on to the tag for a very long time. In addition, both the business groups’ interests clash be it green hydrogen, renewable energy and most recently media. On the topic of rivalry, Adani said that Ambani is a very good friend of his, and that his late father, Dhirubhai Ambani is his role model. “Dhirubhai is a role model. The way he set up and scaled Reliance Industries even before liberalization, he showed the way forward. He is an inspiration,” Adani said. Adani also praised Mukesh Ambani, saying he took the Reliance group forward and expanded it. “Mukesh bhai is a very good friend. I respect him a lot. He gave Reliance Industries a new direction with Jio, technology and retail, apart from his primary petrochemical business. He has made a big contribution towards developing the country,” he said. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

Dhirubhai Ambani is my role model and Mukesh Ambani a very good friend, says Gautam Adani

<ul class="summary-list"><li>The Indian tycoon <keyword id="12173789" type="UNKNOWN" weightage="60" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> is nearly Asia's <keyword id="12429218" type="UNKNOWN" weightage="60" keywordseo="richest-man" source="Orion">richest man</keyword> on the Bloomberg Billionaires Index.</li><li>As stocks in his companies rose Wednesday, Indian <keyword id="11893589" type="UNKNOWN" weightage="100" keywordseo="news" source="Orion">news</keyword> outlets began placing him in the No. 1 spot.</li></ul>It's been a good year for Gautam Adani.The port tycoon, who hails from India, saw his fortune surge by $55.3 billion in 2021, according to estimates from the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index</a>, knocking Zhong Shanshan, China's richest man, into third place among Asia's wealthiest billionaires on the list.Adani, 59, now sits at a net worth of $89.1 billion on the index. That makes him $800 million shy of Asia's highest-ranked person, the Indian energy magnate <keyword id="11905008" type="UNKNOWN" weightage="60" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>.On Wednesday, Adani edged closer to the No. 1 spot, as shares of Adani Enterprise and Adani Ports rose 2.76% and 4.59% while Ambani's companies Reliance Industries and Reliance Industrial Infrastructure slipped by 1.48% and 1.57%, the <a href="https://news.abplive.com/business/gautam-adani-dethrones-mukesh-ambani-becomes-asia-s-richest-man-1495504">Indian outlet ABP News</a> reported.<a href="https://economictimes.indiatimes.com/markets/stocks/news/gautam-adani-surpasses-mukesh-ambani-as-asias-richest/articleshow/87887862.cms">Several local media outlets</a> now hail Adani as Asia's richest man, though he still sat at second place on Bloomberg's index as of Thursday.Adani has business interests in energy, defense, and real estate, and he owns <a href="https://www.adaniports.com/Ports-and-Terminals/Mundra-Port">India's largest commercial port</a>, one of the <a href="https://www.adanienterprises.com/businesses/mining-and-mdo/australia">world's largest coal mines</a>, and a <a href="https://timesofindia.indiatimes.com/business/india-business/adani-group-takes-over-mumbai-airport/articleshow/84380085.cms">74% stake in Mumbai's international airport</a>. And he's come a long way from his days as a college dropout and time as a gem sorter.<h2>Diamonds, exports, and loans</h2>Born in 1962 as one of eight children in Ahmedabad in the western state of Gujarat, Adani was the son of a textile merchant but declined to take on his father's business, <a href="https://www.siliconindia.com/news/success-stories/gautam-adani-from-a-college-dropout-to-billionaire-industrialist-nid-210122-cid-80.html">Silicon India reported</a>.Instead, he enrolled in Gujarat University in Ahmedabad to study commerce but dropped out after his second year, opting to work as a diamond sorter in Mumbai in the early 1980s, per the magazine <a href="https://www.adani.com/-/media/Project/Adani/Media-Coverage/TheNewBusinessFamilies.pdf?la=en">Business Today</a>.Adani then moved on to diamond trading and eventually started his own business, Adani Enterprises, to import and export commodities in 1988, <a href="https://www.ft.com/content/ffce04fe-d295-11e2-aac2-00144feab7de">the Financial Times reported</a>.He would use profits from his business to back heavy loans so he could enter other industries, per the Financial Times.Adani received permission from the Gujarat government in 1995 to start a harbor in the town of Mundra, according to <a href="https://timesofindia.indiatimes.com/news/Gautam-Adani-the-baron-to-watch-out-for-if-Narendra-Modi-becomes-king/articleshow/33521536.cms">The Times of India</a>. It eventually developed into India's largest private port.Adani, an ally of Indian Prime Minister Narendra Modi since Modi was chief minister of Gujarat in 2003, <a href="https://www.ft.com/content/474706d6-1243-4f1e-b365-891d4c5d528b">has been accused</a> of rising in prominence and wealth because he supported the national leader. In an interview with the Financial Times, he denied his business success came from his political ties.<h2>A terrorist attack and a $2 million ransom</h2>In 1998, Adani accused several men of kidnapping him and a companion, Shantilal Patel, <a href="https://indianexpress.com/article/cities/ahmedabad/two-accused-of-abducting-gautam-adani-20-years-ago-acquitted-5473592/">per The Indian Express</a>. He alleged that he and Patel were traveling in a car on New Year's Day when a scooter blocked their path, allowing a group of men to abduct the pair into a van at gunpoint.A report filed against the men said that they demanded a ransom of $2 million from Adani's family and that he and Patel were released after the money was sent over, according to The Indian Express. But two of the people brought to trial were acquitted in 2018, while six others were cleared of the charges in 2005 because the prosecution couldn't tie them to the alleged kidnapping, <a href="https://www.timesnownews.com/business-economy/companies/article/throwback-when-indias-fifth-richest-man-survived-a-kidnapping-and-terrorist-attack/606122">Times Now India reported</a>.Adani doesn't like to talk about the incident, according to the Financial Times, telling the outlet: "Two or three very unfortunate incidents happened in my life, that is one of them."A separate brush with danger came a decade later, during the <a href="https://www.bbc.com/news/world-asia-india-46314555">2008 Mumbai terrorist attacks</a>, a violent 60-hour siege of the city by 10 heavily armed Pakistani militants that left 166 people dead.<div type="image" title="A man holds a sign on top of a car" height="2001" width="3000" msid="87909988" hostid="261"></div>Adani was dining at the Taj Mahal luxury hotel when the siege occurred and said he could see the militants enter the building from his table, <a href="https://www.indiatoday.in/latest-headlines/story/gautam-adani-mallika-sarabhai-escape-after-close-encounter-with-death-34159-2008-11-28">India Today reported</a>.He hid in a basement with the help of hotel staff and later relocated to a chamber hall on an upper floor as the attack continued throughout the night. He told India Today that when commandos stormed the hotel the following day, and he was escorted to safety, he "saw death at a distance of just 15 feet."More than 100 people were hiding with him, he said at the time: "Some had hidden below the sofa while others had taken similar evasive position. Sitting on a sofa, I was telling them to have faith in God."In 2018, <a href="https://indianexpress.com/article/26-11/stories-of-strength/the-ordeal-the-hope-26-11-anniversary-mumbai-attacks-nsg-mumbai-police-5466005/">he wrote a reflection on the attack</a> published on The Indian Express, saying the anniversary of the attack was a "day of personal reflection and prayer" for him every year."One of the lives they saved that night was mine. I still recollect some of the faces — people I will never know, people I will never be able to repay," he wrote. "I am often struck by the thought that this was God's way of keeping me grateful and indebted."Insider has reached out to the Adani Group for comment.

Gautam Adani, the man who may soon be Asia's richest person, is a college dropout who survived the 2008 Mumbai terrorist attacks and says he was once kidnapped for ransom

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Dhirubhai Ambani is my role model and Mukesh Ambani a very good friend, says Gautam Adani

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Gautam Adani, the man who may soon be Asia's richest person, is a college dropout who survived the 2008 Mumbai terrorist attacks and says he was once kidnapped for ransom

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