India has witnessed tremendous growth of most notable billionaires past few years, and Gautam Adani is one among them. He is the founder of Adani group, a multinational conglomerate company headquartered in India. The company was initially dealing with import and export commodities and later spread its wings to multiple sectors like ports, coal mining, power generation, edible oil, gas distribution, and many more.
The meteoric rise of the business giant Gautam Adani into the Bloomberg index as the third richest man in the world is surreal, as his net worth stood at just $10 billion pre-pandemic period. Today, its net worth counts to $137 billion, surpassing all its competitors in Asia. The college dropout became a billionaire in the year 2008 after a long 20-year journey as a businessman. The 60-year-old surpassed Bill Gates after he announced a transfer of $20 billion to Bill & Melinda Gates Foundation.
The journey of Gautam Adani, from being another billionaire to pipping Mukesh Ambani to the top, should be looked at as a record of some kind. His interest in the industries like power distribution, airports, and ports is a probable reason for his enormous wealth building today.
How did Adani become rich?
Adani is the chairman of the Ahmedabad-based multinational conglomerate, and his growth today is propelled by the strong performance of his companies at BSE and NSE. Both the competitors Adani and Ambani were neck to neck in the billionaire index and switched their positions on many occasions. The stocks of Adani group are skyrocketing due to the rise in the price of the commodities, say stock market experts. Aggressive growth strategies implemented by the company in the industries like renewable energy, media, and airports are the reason for its success today. With the investor’s backing, the businessman Gautam Adani adds another feather to the cap by surging his index to the top three richest men in the world as per Bloomberg Billionaire’s Index. He is now just behind two people Tesla chief Elon Musk and amazon founder Jeff Bezos.
Credits: Money Control
Gautam Adani’s Wealth
The year 2022 is a year of fortune for Gautam Adani as he added $60.9 billion to his net worth, which is five times more than any businessman. All these brings him the title ‘Gautam Adani third richest man in the world.’ Adani, for the first time, piped Mukesh Ambani in richest Asian for the first time in the month of February 2022, and they have been swapping positions since then. Before COVID hit the world, there existed a huge difference in net worth between Ambani and Adani, where his net worth was just $ 10 billion, and Ambani’s was 59 billion, six times more than Adani’s. In the span of two years, Adani was able to accumulate a net worth of $137 billion, whereas Ambani was able to gross $91.9 billion. Adding to the record wealth accumulation in just one year, Gautam Adani stood as the only Indian businessman who was able to build five Rs.1 lakh crore ($13 billion) companies in the market value.
The company has spent the past few years expanding its business to various sectors like coal, ports, data centers, cement, alumina, and media. The Adani group now holds the ownership of private-sector ports, city gas distributors, and airport operators.
Recently, the Adani group entered the cement industry with one of the biggest M&A, Switzerland-based Holcim’s India assets — Ambuja Cement ant and ACC. In May, the company made a deal with Softbank in the renewable power business in a 50: 50venture where both Adani Wilmar (the largest agribusiness in Asia) share equal partnership.
His entry into green energy and infrastructure has gained investments from top companies like Warburg Pincus and Total Energies SE. The recent surge in coal has further propelled his asset value. Of many deals that have been happening in the past few years, the one that caught everybody’s attention was his 29.18% stake acquisition in NDTV last week, promoting the company in the media group.
Gaining higher profits
Adani group holds seven publicly traded companies; a few of them gained more than 1000% in the past two years, with the company moving towards green energy and infrastructure. Adani Green and Adani Total Gas surged 1000%, Adani enterprise1400% Adani trasmission1000% and Adani Ports 120% since the year 2020. The gains from Adani total gas surged 1900% in the investor wealth since 2020.
Properties of Gautham Adani
The multi billionaire Gautham Adani owns quite a number of properties on his name and the list is not disclosed yet. Out of his notable properties, lets know more about his residential complex in Ahmedabad and multi crore bungalow in the posh locality of Delhi popular by the name Lutyens and another property in NCR Gurgaon. He also owns many other properties across the globe which includes Abbot Point Port of Australia.
Gautham Adani third richest man’s house in Ahmedabad
The exact price of the residential property in Ahmedabad is not known but must be valuing few crores. The residential bungalow is named as Shantivan House and is spread out in the area spanning around 5300- 7400 sqft with a pleasant serene feel at the entrance with big trees around. The house is located at bustling road in Ahmedabad and he lives with wife and two sons and daughter in law at the house.
Gautam Adani’s Lutyens Delhi property
Gautham Adani recently purchased a century old building in the posh locality of Delhi at a whooping price of 400 crore. The residence is called on the name Lutyens spreading over the area of 3.4 acres. The bungalow price is considered as best deal as it is purchased as part of s part of Aditya Estates’ bankruptcy proceedings. The bungalow was owned by Aditya Estates since 1985 holding the worth of 1000 crores. It was far below its par value just at 265crore due to NCLT proceedings. Adani paid 135 crore to convert the property from lease hold to freehold. The massive residence houses seven bedrooms with six dinning and living rooms. The house is surrounded by green lawns with staff quarters built in the area of 7000sqft.
Adani private jets
Gautam Adani is also owner of three private jets namely Beechcraft, Bombardier and Hawker
Gautam Adani’s car collection
Adani also owns 8 cars of popular brands, including a Rolls-Royce Ghost, , a Toyota Alphard, a bright red Ferrari and a luxurious BMW 7 series.
Summing up
The port king Adani now grabs the position of India’s richest business man. However, his journey of reaching position is not an easy play. He is a man of vision and faced many struggles throughout the journey to reach the position. Both struggle and visionary decision stand by his side for the position he has achieved today.
The post Gautam Adani, Third richest man in the world: Success story uncluttered appeared first on GharOffice Blog.
