India is ranked third, after the United States and China, on the list of countries with the highest number of billionaires. Among them is Ahmedabad’s (current) richest businessman, who occasionally supersedes Reliance Chairman Mukesh Ambani to hold rank as India’s richest individual. In 2022, the concerned businessman even bagged the title of ‘richest person in Asia’. Scroll down to know who it is.
Ahmedabad’s richest businessman has a net worth of Rs 7,16,042 Crore and a multinational business empire that’s valued at Rs 17 lakh Crore. Can you guess who it is?
The wealthiest individual in Ahmedabad is Gautam Adani, the founder and chairman of the Adani Group. This multinational conglomerate is involved in various sectors such as mining, food, natural gas, infrastructure, sea and airport management and electricity, among others, with a significant portion of their revenue coming from coal-related businesses. According to DNA and other reports, the Adani empire is valued at around $213 billion (approximately Rs 17,88,010 crore).
Gautam Adani, who currently holds the 20th spot on Forbes richest list, has an estimated net worth of $85.3 billion (approximately Rs 7,16,042 crore). During his teenage years, he moved to Mumbai to work as a diamond sorter, but later returned to Ahmedabad to manage his elder brother Mahasukhbhai Adani’s company. In 1988, he established Adani Exports, now known as Adani Enterprises. Over the years, Gautam Adani diversified his business by entering into the market for textiles, agro-products, and metals sectors.
A major development came in 1995, when Gautam Adani established his first jetty at Mundra Port, which has now become one of the largest private sector ports in India. Between 2009 to 2012, he expanded his business overseas by acquiring Abbot Point Port in Australia and Carmichael coal mine in Queensland. In September 2020, Adani successfully acquired a 74 per cent stake in Mumbai’s International Airport.
Succession plan
In a recent interview with Bloomberg, Gautam Adani revealed that he plans to step down as the chairman of Adani Group in 2030, and pass the reins of the multinational conglomerate to his sons (Karan and Jeet Adani) and nephews (Pranav and Sagar Adani). “Succession is very, very important for business sustainability. I left the choice to the second generation as the transition must be organic, gradual and very systematic,” he said in the interview.
Luxurious lifestyle
Over the years, Gautam Adani has invested a significant amount of his wealth in real estate. In 2020, he acquired a 3.4-acre residential property near Mandi House, New Delhi, for a whopping amount of Rs 400 crore, according to Housing.com. He also owns a lavish bungalow, named Shantivan House, in Ahmedabad. According to MagicBricks, Gautam Adani has also invested in a property in Abbot Point Port in Australia.
Aside from his massive real estate portfolio, Adani also has an impressive car collection, which includes a Ferrari California, a Range Rover, a Toyota Vellfire, a Rolls-Royce Ghost, and many more. According to DNA, he also owns three private jets: a Bombardier Challenger 605, a Hawker Beechcraft 850XP, and an Embraer Legacy 650.
