Who is Guntam Adani, the man who is now richer than Jeff Bezos

Who is Guntam Adani, the man who is now richer than Jeff Bezos

He is now the third richest man in the world, the head of the Adani group has interests in many sectors and is growing thanks to a series of strategic investments in very different fields.

Gautam Adani now he is the third richest person in the world, before he was, and to be, he was so many other things. He is the kind of man who offers 55% more than the competing price to buy Israel’s most important port, just to take it out of the Chinese claws. Which convinces Australia to invest in coal, despite everything, and persuades what is perhaps the only independent television channel in India to give it 29% ownership. In 1978 he selects diamonds in Mumbai, 10 years later he founded the Adani group. A sprawling conglomerate with interests in the energy, agriculture, real estate, logistics, defense and aerospace sectors. A group that today has a net worth of 150.8 billion dollars. Gautam Adani is the first Asian man to stand on the podium of the richest men in the world.

The shares of its companies have soared thanks in part to the increase in energy prices. The infrastructure tycoon owns stakes in six publicly traded companies that bear his name, and in February he surpassed fellow Indian billionaire Mukesh Ambani, his current net worth is $ 90.1 billion. Now, he cut Jeff Bezos in the corners, just a little, and took third place. There are those who say that Adani benefited financially from his long friendship with the Indian prime minister, Narendra Modi. It is he who in 2014 offers Modi his private jet for the victory tour.

How Adani became a billionaire

The son of a textile merchant, six brothers, Adani leaves the university because he wanted to become an entrepreneur right away. He begins to select diamonds for the Mahendra Brothers, then switch to plastic. His brother Mansukhbhai Adani opens a business and asks him to manage the operations. He enters the global trade with polyvinyl chloride, then begins to import primary polymers for small industries.

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In 1988, the Discount and Finance House of India, a pole of the money market, was established in India, as well as the Security and Exchange Board which regulates the market and protects investors. Adani is 26 years old and founds Adani Exports Limited today Adani Enterprises Limited, the holding company of the group. It deals with agricultural products and energy. In 1991, the policies of economic liberalization open the doors to great new opportunities. Take advantage of it. It grows. Trade of metals, fabrics, agricultural products. Then buy the port of Mundrathe largest in India,

“There are two turning points in my life. One in the 1985, when the government relaxed open general licensing (OGL) import regulations for actual users. The second turning point came in 1995when we decided to enter the port sector, as part of the group’s overall strategy to enter asset building ”, Adani said.

From there it’s a climb. Adani is a first generation entrepreneur who takes risks, his whole business strategy revolves around excessive financial leverage. He initiates a process of territorial expansion, focusing on strategic and controversial investments. He provokes, convinces, gets where he wants. In 2019 he starts a coal mining project in Australia, the mine, Carmichael, is among the largest in the world. It marks Queensland with coal despite warnings from scientists about the disastrous consequences for the climate and the land. In the same year he signed an agreement with the Myanmar army for the creation of a maritime terminal in Yangon port, in September 2021 in Colombo, Sri Lanka.

Then we take the port of Haifa, in Israel: Adani offers 1.18 billion dollars. 55% more than the market price. This ensures a gateway by sea from Asia to Europe, in an anti-Chinese key. Adani also buys a 29% stake in the television network New Delhi Television (NDTV), one of the few independent TV channels left in India. And it’s ready to add a 26%, percentage that would ensure the majority stake. Gautam Adani is the kind of man who makes offerings. He offers offers that cannot be refused.

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