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Gautam Adani
Gautam Adani | |
|---|---|
 Adani in 2012 | |
| Born | Gautam Shantilal Adani 24 June 1962 |
| Alma mater | Gujarat University (dropped out, 1978)[1] |
| Occupation | Businessman |
| Years active | 1978–present |
| Organisation | Adani Group |
| Title |
|
| Spouse |
Priti Adani (m. 1986) |
| Children | 2 |
| Parents |
|
| Relatives | Vinod Adani (brother) Pranav Adani (nephew) |
Gautam Shantilal Adani (born 24 June 1962) is an Indian billionaire businessman who is the founder and chairman of the Adani Group, a multinational conglomerate involved in port development and operations in India.[2][3] As of 21 November 2024, Adani is ranked second richest person in Asia and 25th in the world, with a net worth of $60 billion.[4] In 2022, Time magazine included him in the 100 most influential people in the world.[5]
As a teenager, Adani moved to Mumbai in 1978 to work as a diamond sorter for Mahendra Brothers. In 1981, Adani managed his elder brother's plastic unit in Ahmedabad which was his gateway to global trading through polyvinyl chloride (PVC) imports and establishing the Adani Group in 1988.
Adani has been described as being close to India's Prime Minister Narendra Modi and to his ruling Bharatiya Janata Party government[3][6][7] which has led to allegations of cronyism.[8] In January 2023, the American short selling activist firm Hindenburg Research accused Adani of stock manipulation and fraud.[9] In January 2024, the Supreme Court resolved the Adani Group stocks dispute arising from Hindenburg Research's allegations and dismissed requests for an SIT or CBI investigation.[10][11] As of October 2023, Adani's fortune is estimated at $54.2 billion and ranked 23rd on the Forbes Real Time Billionaires list.[12][13][14][15][16]
On 20 November 2024, a five-count criminal indicment by the U.S. Attorney's Office in Brooklyn, New York charged Adani and executives for five criminal counts of bribery. Adani is alleged to have paid over $250 million in bribes to Indian government officials to secure contracts in Andhra Pradesh, Chhattisgarh, Odisha, Jammu and Kashmir, and Tamil Nadu.[17][18][19]
- ^ Cite error: The named reference
Prime Insightswas invoked but never defined (see the help page). - ^ "Gautam Adani Bloomberg Index". Bloomberg.com. Retrieved 11 February 2022.
- ^ a b Cite error: The named reference
Keener Spotlightwas invoked but never defined (see the help page). - ^ "Forbes Billionaires List". Forbes. 21 November 2024.
- ^ "Gautam Adani: The 100 Most Influential People of 2022". Time. 23 May 2022. Retrieved 9 August 2023.
- ^ Cite error: The named reference
timesofindia-10Apr14was invoked but never defined (see the help page). - ^ "The humbling of Gautam Adani is a test for Indian capitalism". The Economist. 9 February 2023.
- ^ Cite error: The named reference
BBC News-02Dec22was invoked but never defined (see the help page). - ^ "Adani Group: How The World's 3rd Richest Man Is Pulling The Largest Con In Corporate History". Hindenburg Research. 24 January 2023. Retrieved 5 February 2023.
- ^ Mahapatra, Dhananjay (4 January 2024). "No inadequacy in Sebi probe: Supreme Court". The Times of India. Retrieved 10 January 2024.
- ^ Rajagopal, Krishnadas (3 January 2024). "Supreme Court upholds SEBI probe, turns focus on 'conduct' of Hindenburg". The Hindu. Retrieved 10 January 2024.
- ^ "Profile Gautam Adani". Forbes. Retrieved 5 February 2023.
- ^ "How Gautam Adani Lost More Than $50 Billion In A Week—And His Ranking As Asia's Richest". Forbes. 26 January 2023.
- ^ "Adani's $58 Billion Wealth Wipeout in Six Days Has Few Parallels". Bloomberg.com. 2 February 2023. Retrieved 3 February 2023.
- ^ Iordache, Ruxandra (2 February 2023). "Adani losses top $100 billion in the wake of Hindenburg Research report". CNBC. Retrieved 3 February 2023.
- ^ Shankar, Vivek (31 January 2023). "This Mogul Lost Tens of Billions of Dollars in Days. What Happened?". The New York Times. ISSN 0362-4331. Retrieved 3 February 2023.
- ^ Luc Cohen; Jonathan Stempel (21 November 2024). "Billionaire Gautam Adani of India's Adani Group charged in US with bribery, fraud". Reuters.
- ^ "Eastern District of New York | Billionaire Chairman of Conglomerate and Seven Other Senior Business Executives Indicted in Connection with Scheme to Pay Hundreds of Millions of Dollars in Bribes and Conceal Bribery Scheme from U.S. Investors | United States Department of Justice".
- ^ "Adani bribe row: US indictment names Andhra, Chhattisgarh, Odisha, J&K, Tamil Nadu". India Today. 21 November 2024. Retrieved 21 November 2024.
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