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Here Is Everything We Know About Gautam Adani, The Businessman Who Surpassed Mukesh Ambani To Becomes Asia’s Richest Person

While Mukesh Ambani’s Reliance Industries Limited (RIL) has had quite a large hold on the Indian market, which also makes Ambani one of the richest businessmen in Asia, he has lost the title to Gautam Adani. The Indian billionaire businessman, who is the chairman and founder of the Adani Group, an Ahmedabad-based multinational conglomerate, is now the richest man in Asia.

Also Reda: India Added 3 Billionaires Per Month In 2019

Reports suggest that Adani’s net worth increased drastically from April 2020. On 18 March 2020, his net worth was estimated at USD 4.91 billion. His net worth then saw a spike of over 1808 per cent in the span of 20 months. This estimates to be a whopping USD 83.89 billion. Ambani’s net worth also increased in this period, but only by 250 per cent which sums up to USD 54.7 billion approximately.

So who is Gautam Adani, the man who surpassed Ambani? Here is everything we know about the Indian billionaire.

The chairman and founder of the Adani Group, he is also the president of the Adani Foundation, which is primarily led by his wife, Priti Adani. He established the Adani Group in 1988 and expanded his business into resources, logistics, energy, agriculture, defence and aerospace, amongst others. He had a 66% stake in Adani Ports & SEZ, 75% stake in Adani Enterprises, 73% stake in Adani Power, and a 75% stake in Adani Transmission.

He moved to Mumbai in 1978 when he was a young boy. He used to work as a diamond sorter for Mahendra Brothers. After working for them for 2–3 years, he ventured out to establish his own diamond brokerage firm at Zaveri Bazaar, Mumbai. The business expanded to PVC imports in 1981 when his elder brother, Mansukhbhai Adani, bought a plastics unit in Ahmedabad and invited him to manage the operations. This was just the start. Adani worked meticulously to expand his business and diversify the business’ niche.

He also had set up the first jetty in 1995. Today, Adani Ports & SEZ (APSEZ) is the largest private multi-port operator. In May 2020, he also won the world’s largest solar bid by the Solar Energy Corporation of India (SECI) worth $6 billion and in September 2020, the company acquired a 74% stake in Mumbai International Airport.

But Adani has not only been focused on business. In 2020, he contributed ₹100 crore to the PM Cares Fund through his group’s philanthropy arm, a contribution of ₹5 crore was made to the Gujarat CM Relief Fund and ₹1 crore to the Maharashtra CM Relief Fund to fight the Coronavirus outbreak. The group also acquired 5,000 medical-grade oxygen cylinders from Linde Saudi Arabia.

Also Read: LVMH CEO Bernard Arnault Becomes The Richest Man In The World

The post Here Is Everything We Know About Gautam Adani, The Businessman Who Surpassed Mukesh Ambani To Becomes Asia’s Richest Person appeared first on Man’s World India.

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