Billionaire survivor ransom, panic attacks now rival Ambani

Gautam Adani in New Delhi in February.

Photographer: Manoj Verma / Hindustan Times / Getty Images

Gautam Adani has a way to escape the crisis. He was held for ransom more than two decades ago and was in the middle of 2008 Hostage during Taj Mahal Palace Hotel in Mumbai Terrorist attack that killed more than 160 people.

From then on, his business acumen and ability to overcome obstacles made him one of the richest people in India. And while the coronovirus outbreak plunged the nation into an unprecedented form This year, Adani’s group has continued to grow. His group secured global partners, investments and pushed into new areas.

The shares of most of their companies have increased, including their mining, gas and port units. Adani Green Energy Limited has jumped more than six times this year as it has achieved a record The $ 6 billion solar-energy deal, another step toward the goal of the world’s largest renewable-energy producer by 2025.

“There is FOMO syndrome in the market when it comes to Adani shares,” said Sanjeev Bhasin, director of investment management firm IIFL Securities Ltd. “Its businesses are linked to the current central government vision.” Therefore, the road ahead is smooth for this group for at least five to six years. “

Also Read: A 565% Stock Rally, A $ 23 Billion Firm Butt Zero Analyst Coverage

With a value of $ 32.4 billion, Adani is the richest person in India after Mukesh Ambani, who has made headlines in the news for partnering with some of Silicon Valley’s leading names. This year, stock surges have raised $ 21.1 billion in Adani’s total assets, even more than Ambani’s profit, Bloomberg Billionaires Index.

Representatives of the Adani group declined to comment for this story.

After dropping out of college, Adani tried his luck in Mumbai’s diamond industry in the early 1980s. He moved back to his home state of Gujarat before setting up in 1988 to help his brother run the plastic business. The group’s leading commodity trader Adani Enterprises Ltd. A decade later, he began operating the port of Mundra, located on the shores of the Arabian Sea, eventually creating India’s largest private sector port operator.

India economy port

The ship at the port of Mundra, which Adani commissioned in the late 1990s.

Photographer: Sam Panthaki / AFP / Getty Images

The group has become the country’s largest non-state-owned power producer and a leader in coal mining, and has expanded overseas. In Australia, the tycoon is still working Negative publicity for his Carmichael thermal-coal project, for which he received approval last year after a decade-long struggle with regulators and environmentalists.

Like other entrepreneurs, Adani repeatedly chose hot new industries that the government insisted on developing and where competition was relatively low. Even now, the 58-year-old tycoon often says “Nation building ”as a key plank of his strategy, is a reason that aligns with the vision of Prime Minister Narendra Modi.

“The way they have grown from a trading firm in Ahmedabad with so much vertical and good diversification – the journey is amazing,” said Umesh Mehta, head of research at SAMCO Securities in Mumbai. “He had a futuristic vision to build a business with growth potential and that would help India in some way, which was the blessing of the government.”

Adani rose as Modi, as did a Gujarati who also gained power. The businessman started commercial operation of Mundra Port and built his industrial zone when Modi was the acting head of state and was one of the leading supporters of politicians for almost two decades.

Profile of Gautam Adani, Chairman of Adani Group

Narendra Modi with Gautam Adani at the Vibrant Gujarat Global Summit in Gujarat, India in 2011.

Photographer: Vijay Sonji / Mint / Getty Images

The rapid diversification of billionaires began around 2015. When Modi pledged Developing local manufacturing of defense equipment, he quickly Built the ability to supply military Partnership with defense contractors. Three years later, A. Gas finally formed its empire in India The largest retailer of fuel in the private sector. In 2019, he started focusing Airports, and now he is trying to enter areas including Data storage and financial Services.

“Modi’s policies have helped business groups since his Gujarat days and contributed to the rapid growth of groups like Adani Group,” said Indira Hirve, director of the Center for Development Alternatives in Ahmedabad. “Creating Corporate Strategy with Government Priorities – This is the way to do business in India.”


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