Where does the fortune of Gautam Adani come from?
Gautam Adani is an Indian billionaire industrialist who is the chairman and founder of the Adani Group. The company, located in Ahmedabad, is a multinational conglomerate focused on port development and operations in India but also engages in energy, resources, logistics, agribusiness, real estate, financial services, defence and aerospace. The group is India’s largest port developer and operator with ten ports and terminals including Mundra Port, the largest private port of India. Through a joint venture, the Adani Group co-owns India’s largest edible oil brand, Fortune Oil. His successful conglomerate company secured Adani the 2nd place of the richest people in India, right after Mukesh Ambani, with an estimated net worth of $55.8 billion.
Featured: Our unique Asian Single Family Office Database
-
Rated 5.00 out of 5€399,99 including VAT
This article is the outcome of our research for the Asian Single Family Office database. Our list features the most significant family investment vehicles in Asia, focusing on various sectors such as financial markets, real estate, venture capital, private equity, and renewable energy.
How did Adani’s company Adani Group develop?
In 1981, Adani’s elder brother bought a plastics unit in Ahmedabad and invited him to run it. This venture proved to be Adani’s gateway to global trade through PVC imports. In 1985, he started importing polymers for small-scale industries, followed by the establishment of Adani Exports Limited, the holding company of the Adani Group, in 1988. Initially, the company traded in agricultural and energy commodities. Adani expanded into trading metals, textiles and agricultural products before the government awarded it the contract to manage the Mundra port in 1995. Just a year later, Adani entered the power business with Adani Power Limited, which owns thermal power plants with a capacity of 4620 MW, the largest private thermal power producer in the country. In 2020, Adani won the world’s largest solar tender worth US$6 billion.
Update 2024:Today, the Adani Group has a turnover of $37 billion and operates in more than 70 locations in 50 countries. His conglomerate, along with Gautama Adani Family Office, have made him one of the world’s richest men. His wealth is estimated at around $84 billion.
Is there a Gautam Adani family office?
Although Gautam Adani is very discreet about his investments, our research team was able to identify Adani Advisory LLP as his personal single family office. He also channels his philanthropic contributions through the Adani Foundation, which is run by his wife, Priti Adani.
How does the Gautam Adani family office invest?
The Gautama Adani family office, Adani Advisory LLP, is active in private equity in the energy, resources, logistics, agriculture, financial services, defence and aerospace sectors. The investment firm also focuses on real estate transactions.
Update 2024: Adani has expressed his ambition to become the world’s largest producer of green energy, with plans to invest up to $70 billion in renewable energy projects.
This article is part of our detailed report “The Single Family Offices of Asian Billionaires and HNWIs“.
Picture source: Arti Kh via Unsplash