https://www.scmp.com/rss/517668/feed The latest news on Gautam Adani, founder and chairman of the Adani Group, including Indian business news and updates. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Bloomberg Bloomberg Indian billionaire Gautam Adani travelled to China last week to meet industrial equipment manufacturers, marking what appears to be his first overseas trip since the US unveiled criminal and civil cases against him in November. The visit, including to a solar module maker, underscores Adani’s continued efforts to maintain momentum in renewables even as he faces heightened scrutiny abroad. Sagar Adani, who oversees the green arm of the conglomerate’s sprawling empire, accompanied his uncle on the... https://www.scmp.com/news/asia/south-asia/article/3314041/indian-billionaire-gautam-adani-visits-china-amid-us-legal-challenges-boost-renewables?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3314041/indian-billionaire-gautam-adani-visits-china-amid-us-legal-challenges-boost-renewables?utm_source=rss_feed Wed, 11 Jun 2025 11:29:14 +0000 The Madhya Pradesh Global Investors’ Summit promised to be a high-profile showcase of India’s booming economy, a magnet for corporate investment worth 30.8 trillion rupees (US$353 billion). Instead, it became a viral spectacle – not for its business deals, but for food fights. Videos of attendees jostling for puri and sabzi at the summit’s food pavilion on February 24 and 25 have eclipsed the event’s lofty ambitions, reported Indian daily The Economic Times. The footage, widely shared on social... https://www.scmp.com/week-asia/economics/article/3301119/chaos-india-investor-summit-devolves-viral-food-fight?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3301119/chaos-india-investor-summit-devolves-viral-food-fight?utm_source=rss_feed Wed, 05 Mar 2025 05:53:16 +0000 Sri Lanka has cancelled a power purchase agreement with Indian billionaire Gautam Adani’s conglomerate after allegations of corruption in a US probe last year, international media reported citing unnamed government officials. While the Anura Kumara Dissanayake-led government has revoked the deal signed by the previous administration, the project itself is not cancelled, according to an Agence France-Presse story published on Friday. Adani Group’s wind power project will now be reviewed by a... https://www.scmp.com/news/asia/south-asia/article/3296293/adani-denies-sri-lanka-cancelled-wind-power-purchase-deal?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3296293/adani-denies-sri-lanka-cancelled-wind-power-purchase-deal?utm_source=rss_feed Sat, 25 Jan 2025 15:30:08 +0000 Indian billionaire Gautam Adani has been indicted by US prosecutors for his alleged role in a US$265 million bribery scheme, plunging his conglomerate deep into crisis for the second time in two years. The multiple counts of fraud levelled against Adani, who is one of the world’s richest people, and seven other defendants, sent shares and bonds of Adani firms tumbling on Thursday. Adani Green Energy, the company at the centre of the allegations, also cancelled a US$600 million bond sale. Arrest... https://www.scmp.com/news/world/united-states-canada/article/3287453/indias-gautam-adani-one-worlds-richest-people-charged-us-bribery-and-fraud?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3287453/indias-gautam-adani-one-worlds-richest-people-charged-us-bribery-and-fraud?utm_source=rss_feed Wed, 20 Nov 2024 23:30:51 +0000 You’ve heard of the Ambanis, who just held the “wedding of the year” when Anant Ambani tied the knot with Radhika Merchant. But now it’s time for another Indian dynasty to take over the internet – the Adanis. The Adani Group is led by billionaire Gautam Adani, the second richest man in Asia, per Forbes (Mukesh Ambani is No 1, of course). However, lately the group is facing a slew of controversies, including allegations of financial fraud and stock market manipulation from US short-seller... https://www.scmp.com/magazines/style/article/3281554/meet-4-heirs-poised-inherit-gautam-adanis-us213-billion-empire-karan-jeet-pranav-and-sagar-company?utm_source=rss_feed https://www.scmp.com/magazines/style/article/3281554/meet-4-heirs-poised-inherit-gautam-adanis-us213-billion-empire-karan-jeet-pranav-and-sagar-company?utm_source=rss_feed Tue, 08 Oct 2024 22:00:10 +0000 One of Asia’s richest men said the next generation is ready to take over his sprawling company – but it won’t happen for at least eight years. Gautam Adani, 62 years old, announced his intention to retire at 70 from the Adani Group, Bloomberg reported on Monday. Founded in 1988, the Adani Group has substantial interests in energy, logistics, and infrastructure and aims to make India “a significant player in sustainable energy, and self-reliant in defence and security,” according to a profile on... https://www.scmp.com/news/asia/south-asia/article/3273399/gautam-adani-asias-second-richest-man-finally-has-succession-plan-his-company?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3273399/gautam-adani-asias-second-richest-man-finally-has-succession-plan-his-company?utm_source=rss_feed Tue, 06 Aug 2024 08:29:37 +0000 For Gautam Adani, an underwhelming election win for Narendra Modi’s party is worse than a short-seller attack. The Indian tycoon’s wealth tumbled by almost US$25 billion on Tuesday, the biggest one-day loss for an Asian billionaire ever, after the Modi-led political alliance failed to deliver the landslide electoral victory predicted by exit polls. All 10 Adani Group stocks plummeted, wiping out almost US$45 billion in group market value. It was the biggest single-day rout the US$189 billion... https://www.scmp.com/news/asia/south-asia/article/3265456/india-election-gautam-adani-suffers-us25-billion-wealth-wipeout-modi-letdown?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3265456/india-election-gautam-adani-suffers-us25-billion-wealth-wipeout-modi-letdown?utm_source=rss_feed Wed, 05 Jun 2024 06:59:22 +0000 The US will provide US$553 million in financing for a port terminal in Sri Lanka’s capital being developed by Indian billionaire Gautam Adani, as New Delhi and Washington look to curtail China’s influence in South Asia. The funding from International Development Finance Corp underscores renewed US and Indian efforts to loosen Beijing’s sway over Sri Lanka after Colombo borrowed heavily to splurge on Chinese port and highway projects before its economic meltdown last year. For Adani, US money may... https://www.scmp.com/news/asia/south-asia/article/3240928/us-invests-us553-million-gautam-adanis-sri-lanka-port-curb-chinas-influence?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3240928/us-invests-us553-million-gautam-adanis-sri-lanka-port-curb-chinas-influence?utm_source=rss_feed Thu, 09 Nov 2023 23:00:10 +0000 Lily Brown Lily Brown In 2023, the world’s richest man is Bernard Arnault with US$211 billion in the bank, thanks to his ever-growing luxury empire LVMH, per Forbes. Even Tesla and SpaceX CEO Elon Musk is now trailing behind with his US$180 billion net worthwhile Amazon founder Jeff Bezos placed No 3 with his US$114 billion net worth, states the Forbes rich list that was unveiled in April (which we also referenced for the other net worths mentioned in this piece). As Asia continues to grow and dominate the global... https://www.scmp.com/magazines/style/celebrity/article/3221265/10-most-powerful-billionaires-asia-net-worths-ranked-indias-gautam-adani-and-mukesh-ambani-uniqlos?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3221265/10-most-powerful-billionaires-asia-net-worths-ranked-indias-gautam-adani-and-mukesh-ambani-uniqlos?utm_source=rss_feed Sat, 20 May 2023 14:35:10 +0000 India’s parliament was adjourned for a third day as the opposition sought to draw attention to what they describe as the close ties between Prime Minister Narendra Modi and billionaire Gautam Adani ahead of national elections due next year. Adani’s companies have witnessed a stock rout after US short seller Hindenburg Research accused the conglomerate of widespread fraud and stock market manipulation. The market value of the group has almost halved since Hindenburg’s allegations, which have been... https://www.scmp.com/news/asia/south-asia/article/3209220/indias-modi-under-fire-gautam-adani-links-silence-over-fraud-allegations?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3209220/indias-modi-under-fire-gautam-adani-links-silence-over-fraud-allegations?utm_source=rss_feed Mon, 06 Feb 2023 06:02:08 +0000 India’s billionaires are not having a great 2023 so far. A massive selloff in the listed companies of the Gautam Adani — India’s richest man — following a shocking short-seller report, is spilling over into the country’s markets. Adani Group’s listed companies have lost more than US$68 billion in market capitalization since Hindenburg Research, a US short seller, released a scathing report last Tuesday alleging “brazen stock manipulation and accounting fraud scheme” at the Adani Group. Adani... https://www.scmp.com/news/asia/south-asia/article/3208569/stock-wipeout-knocks-asias-richest-man-out-worlds-top-10-wealthiest?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3208569/stock-wipeout-knocks-asias-richest-man-out-worlds-top-10-wealthiest?utm_source=rss_feed Tue, 31 Jan 2023 07:31:07 +0000 India’s infrastructure king Gautam Adani has known tense moments in his dramatic rise to become Asia’s richest man. But nothing compares to the current challenge he faces, with a US hedge fund accusing his namesake ports-to-energy empire of pulling “the largest con in corporate history” through accounting fraud, share-price manipulation and money-laundering. In a 413-page rebuttal, the Adani Group rejected Hindenburg’s charges as “baseless” and – wrapping itself in the Indian flag – called them... https://www.scmp.com/week-asia/economics/article/3208497/can-survivors-instinct-help-indias-gautam-adani-ride-out-hindenburg-fraud-report?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3208497/can-survivors-instinct-help-indias-gautam-adani-ride-out-hindenburg-fraud-report?utm_source=rss_feed Tue, 31 Jan 2023 00:30:19 +0000 Looks like Indian business magnates Gautam Adani and Mukesh Ambani may be in for a run for their money, as Savitri Jindal has just climbed to the top of the billionaire club, emerging as India’s richest woman, according to Forbes. She and her family currently rank as No 6 on the publication’s India’s 100 Richest list. Sure, she may be behind Ambani by a good US$67 billion, and US$133 billion off from Adani, but she’s been making money quickly this year as her wealth has nearly quadrupled since... https://www.scmp.com/magazines/style/celebrity/article/3202405/meet-indias-richest-woman-savitri-jindal-net-worth-us177-billion-wealthy-jindal-group-mogul-joins?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3202405/meet-indias-richest-woman-savitri-jindal-net-worth-us177-billion-wealthy-jindal-group-mogul-joins?utm_source=rss_feed Thu, 08 Dec 2022 00:00:29 +0000 India is set to become a US$30 trillion economy by 2050 – a nearly 10-fold jump from its current size – driven by rising consumption and social and economic reforms, according to Asia’s richest man Gautam Adani. The nation’s gross domestic product may start expanding by US$1 trillion every 12 to 18 months within the next decade, increasing its attraction as an investment destination, the billionaire said at a conference in Mumbai. India’s share of global GDP is likely to exceed 20 per cent by... https://www.scmp.com/news/asia/south-asia/article/3200251/indias-economy-will-expand-us30-trillion-2050-asias-richest-man-gautam-adani-says?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3200251/indias-economy-will-expand-us30-trillion-2050-asias-richest-man-gautam-adani-says?utm_source=rss_feed Sat, 19 Nov 2022 11:43:37 +0000 It’s been a milestone year for Indian billionaire businessman Gautam Adani. With an estimated net worth of around US$134 billion according to the Bloomberg Billionaires Index, Adani now finds himself in the top five richest people in the world. It’s an incredible achievement given that much of his wealth has been accumulated in just the past few years. The businessman turned 60 this year and celebrated alongside his family and colleagues at the Adani Group headquarters, as well as by donating a... https://www.scmp.com/magazines/style/celebrity/article/3198819/5-gautam-adani-book-bombshells-indian-billionaires-biography-reveals-wife-pritis-reluctance-marry?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3198819/5-gautam-adani-book-bombshells-indian-billionaires-biography-reveals-wife-pritis-reluctance-marry?utm_source=rss_feed Tue, 08 Nov 2022 03:42:40 +0000 Their husbands are constantly in the news. If it’s not because they’ve made another billion, adding to their massive wealth portfolio, then it’s because Mukesh Ambani, 65, and Gautam Adani, 60, are being pitted against each other. They’re two of the most powerful, influential and richest Indians on the planet, after all. Adani’s wealth is at an estimated US$133 billion while Ambani’s is around US$83 billion, per Bloomberg. And as they face off in the business world, they are supported by a no... https://www.scmp.com/magazines/style/celebrity/article/3194129/indian-billionaire-wives-compared-nita-ambani-and-priti?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3194129/indian-billionaire-wives-compared-nita-ambani-and-priti?utm_source=rss_feed Thu, 29 Sep 2022 00:00:26 +0000 China could become increasingly isolated from the rest of the world and its burgeoning housing and credit risks are similar to those faced by Japan during its so-called “lost decade” of stagflation in the 1990s, according to Indian billionaire Gautam Adani. In remarks at a conference in Singapore, Adani – briefly the world’s second-richest person – said China’s “increasing nationalism, supply chain risk mitigation and technology restrictions” would likely affect its connectivity with other... https://www.scmp.com/week-asia/economics/article/3193958/china-risks-being-isolated-rest-world-says-indias-gautam-adani?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3193958/china-risks-being-isolated-rest-world-says-indias-gautam-adani?utm_source=rss_feed Tue, 27 Sep 2022 08:27:03 +0000 India’s mega-billionaire Adani family are known to be elusive and low key. But with patriarch Gautam Adani’s net worth now estimated at over US$150 billion – according to The Times of India, their enormous wealth soared dramatically after the Covid-19 pandemic with businesses spanning from ports, airports and power distribution – many are curious about their life and family members. With a father who’s the world’s second wealthiest billionaire, Gautam’s second son, Jeet Adani, is likely one of... https://www.scmp.com/magazines/style/celebrity/article/3193426/meet-jeet-adani-son-worlds-second-richest-billionaire?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3193426/meet-jeet-adani-son-worlds-second-richest-billionaire?utm_source=rss_feed Fri, 23 Sep 2022 00:00:24 +0000 Gautam Adani and his family are worth an estimated US$150 billion while Mukesh Ambani and his family are worth an estimated US$90 billion, per Forbes. They are among the richest people on the globe and aggressive business plans leave them poised to make more money. As Gautam, 60, and Mukesh, 65, continue to drive the global markets, they have also been in careful planning to hand over the keys to the empires to their children. For years, their eldest sons, Karan Adani, 35, and Akash Ambani, 30,... https://www.scmp.com/magazines/style/celebrity/article/3193021/billionaire-heirs-compared-akash-ambani-and-karan-adani?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3193021/billionaire-heirs-compared-akash-ambani-and-karan-adani?utm_source=rss_feed Tue, 20 Sep 2022 00:00:23 +0000 Jeff Bezos lost his title as world’s second-richest person on Friday to Indian industrialist Gautam Adani. Adani’s fortune is now worth US$146.9 billion, while Bezos’s net worth dropped to US$145.8 billion today, according to Bloomberg. In February, Adani, the founder and chairman of Adani Group, became Asia’s richest person, surpassing fellow Indian businessman Mukesh Ambani. Adani joined the centibillionaire’s club when his wealth hit US$122 billion in April and he passed Warren Buffett and... https://www.scmp.com/news/asia/south-asia/article/3192903/amazons-jeff-bezos-dethroned-second-richest-person-world?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3192903/amazons-jeff-bezos-dethroned-second-richest-person-world?utm_source=rss_feed Sun, 18 Sep 2022 04:34:11 +0000 Gautam Adani’s incredible rise from university dropout to one of the world’s richest people has just become even more impressive after he made it to the top three of the world’s wealthiest on the Bloomberg Billionaires Index. The achievement puts him ahead of Bill Gates, Warren Buffett, Mukesh Ambani and Louis Vuitton’s Bernard Arnault. Adani is the first Asian to ever make it to the top three of the Bloomberg Billionaires Index and has an estimated fortune of US$143 billion, not far behind... https://www.scmp.com/magazines/style/celebrity/article/3190996/dropout-diamonds-4-major-events-shaped-gautam-adani?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3190996/dropout-diamonds-4-major-events-shaped-gautam-adani?utm_source=rss_feed Fri, 02 Sep 2022 00:00:25 +0000 Self-made Indian tycoon Gautam Adani’s wealth has skyrocketed as he backs Prime Minister Narendra Modi’s infrastructure and green energy push, but amid the Adani Group’s aggressive expansion, analysts have questioned the speed and prudence of some of his investments. For the last few years, Adani’s ports-to-energy group – India’s third-largest conglomerate after the Tata Group and Mukesh Ambani’s Reliance Industries – has been on a debt-fuelled deal-making spree. Now, warning lights are flashing... https://www.scmp.com/week-asia/economics/article/3190991/indias-gautam-adani-asias-richest-man-still-goose-lays-golden?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3190991/indias-gautam-adani-asias-richest-man-still-goose-lays-golden?utm_source=rss_feed Thu, 01 Sep 2022 11:30:09 +0000 Mukesh Ambani and Gautam Adani have both enjoyed a meteoric rise in wealth in the last decade, between them dominating India’s energy, infrastructure, retail and defence development industries. Though they operate in some of the same industries, Adani and Ambani’s gigantic multi-sector companies have perhaps quire sensibly steered clear of direct competition with one another. However, Bloomberg reported on Monday that Ambani’s aides received word in June that Adani was planning to bid for... https://www.scmp.com/magazines/style/celebrity/article/3188404/gautam-adani-vs-mukesh-ambani-their-opulent-lives?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3188404/gautam-adani-vs-mukesh-ambani-their-opulent-lives?utm_source=rss_feed Thu, 11 Aug 2022 00:00:16 +0000 In June, Indian billionaire Mukesh Ambani and his aides ran into an unexpected dilemma when debating where to train the deal making lens of his empire next. Ambani’s Reliance Industries Ltd. was contemplating buying a foreign telecommunications giant, when word reached them that Gautam Adani – who had overtaken Ambani as Asia’s richest man a few months earlier – was planning to bid in the first big sale of 5G airwaves in India, according to people familiar with the matter. Ambani’s Reliance Jio... https://www.scmp.com/news/asia/south-asia/article/3187309/asias-richest-men-prep-t0-battle-india-gautam-adani-enters?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3187309/asias-richest-men-prep-t0-battle-india-gautam-adani-enters?utm_source=rss_feed Mon, 01 Aug 2022 09:08:55 +0000 She’s married to Karan Adani, the guy who one day will take over the reins from Asia’s richest man, Gautam Adani. Adani Sr.’s net worth is a whopping US$108 billion according to Bloomberg and Karan is already CEO of Adani Ports and SEZ Limited. But the family like to keep their personal affairs out of the spotlight, so just who is the woman who has captured Karan’s heart? Meet Paridhi Adani, a bold lawyer who is carving out her own future – her husband and his family billions aside. Glam... https://www.scmp.com/magazines/style/celebrity/article/3185434/meet-paridhi-shroff-gautam-adanis-daughter-law-shes?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3185434/meet-paridhi-shroff-gautam-adanis-daughter-law-shes?utm_source=rss_feed Mon, 18 Jul 2022 00:00:14 +0000 Gautam Adani has become a household name after he raced into the top 10 richest people in the world, with an estimated net worth sitting at US$102 billion at the time of writing. The 60-year-old tycoon didn’t do it alone, though – yes, he has two sons, Karan and Jeet, who share in his spoils. But what about his long-term, loyal wife, Priti? Who is the woman behind the man whose dramatic ability to gain wealth has caught the world’s attention? A qualified dentist passionate about uplifting the... https://www.scmp.com/magazines/style/news-trends/article/3184197/who-gautam-adanis-wife-priti-spouse-asias-new-richest?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/3184197/who-gautam-adanis-wife-priti-spouse-asias-new-richest?utm_source=rss_feed Wed, 06 Jul 2022 00:00:18 +0000 Gautam Adani is one of the richest people in the world, acquiring an estimated net worth of around US$99.9 billion, per Forbes, at the time of writing. He also recently turned 60, prompting questions about who would eventually take over the helm of the Adani businesses. His son Karan, 35, is the most likely candidate, according to multiple reports. Not only is he already firmly entrenched in the family business, he is particularly close with his father and openly takes advice from the business... https://www.scmp.com/magazines/style/celebrity/article/3183644/meet-karan-adani-son-asias-richest-man-gautam-adani-35?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3183644/meet-karan-adani-son-asias-richest-man-gautam-adani-35?utm_source=rss_feed Sun, 03 Jul 2022 00:00:14 +0000 What does a billionaire do when they turn 60? Turns out that depends on what sort of person they are. Take, for example, Gautam Adani. The Indian businessman’s fame has soared along with his meteoric rise up the global wealth rankings – yet he is also a notoriously private and low-key man. That makes him quite unlike his rival, Mukesh Ambani, whose family is famous for their extravagant parties and spending big on luxury items. (Mukesh’s daughter, Isha, even had Beyoncé and Shah Rukh Khan... https://www.scmp.com/magazines/style/celebrity/article/3183489/asias-richest-man-also-indias-most-generous-gautam-adani?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3183489/asias-richest-man-also-indias-most-generous-gautam-adani?utm_source=rss_feed Wed, 29 Jun 2022 07:35:14 +0000 Gautam Adani, Asia’s richest person, and his family have pledged to give 600 billion rupees (US$7.7 billion) to a slew of social causes, to mark his 60th birthday. The donation will be managed by the Adani Foundation and will be targeted at bolstering health care, education and skill development, Adani told Bloomberg News in an interview on Thursday. “This is one of the largest transfers made to a foundation in Indian corporate history,” he said, adding that this commitment also honours the... https://www.scmp.com/news/asia/south-asia/article/3182910/birthday-giveaway-richest-asian-gautam-adani-pledges-us77?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3182910/birthday-giveaway-richest-asian-gautam-adani-pledges-us77?utm_source=rss_feed Fri, 24 Jun 2022 05:37:47 +0000 Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push their pivots toward greener energy. With coal prices skyrocketing to a record, Adani’s conglomerate is expanding a controversial mine in Australia to meet demand. Ambani’s Reliance Industries Ltd. is snapping up distressed crude-oil cargoes at discounts to feed its refining complex, the... https://www.scmp.com/news/asia/south-asia/article/3178290/gautam-adani-and-mukesh-ambani-profit-surging-coal-oil-amid?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3178290/gautam-adani-and-mukesh-ambani-profit-surging-coal-oil-amid?utm_source=rss_feed Thu, 19 May 2022 02:07:26 +0000 Over the past two years, Gautam Adani has solidified his place on the world’s richest list. At the end of April, Adani edged past Warren Buffett to become the world’s fifth-richest person, according to Forbes. His interests in ports, airports and power distribution have resulted in him beating fellow Indian billionaire Mukesh Ambani on the rich list, with his net worth estimated to be around US$123.7 billion. Despite his spectacular rise in wealth, little is known about Adani. He has been... https://www.scmp.com/magazines/style/celebrity/article/3177197/inside-crazy-rich-life-gautam-adani-indian-billionaire?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3177197/inside-crazy-rich-life-gautam-adani-indian-billionaire?utm_source=rss_feed Wed, 11 May 2022 00:00:27 +0000 Gautam Adani, the Indian billionaire who turned a small commodities trading business into a conglomerate spanning ports, mines and green energy, is now Asia’s richest person. The 59-year-old mogul’s net worth reached US$88.5 billion on Monday, according to the Bloomberg Billionaires Index, eclipsing fellow countryman Mukesh Ambani’s US$87.9 billion. With an almost US$12 billion jump in his personal fortune, Adani is the world’s biggest wealth-gainer this year. The coal magnate – whose... https://www.scmp.com/news/asia/south-asia/article/3166182/indian-tycoon-gautam-adani-unseats-mukesh-ambani-asias-richest?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3166182/indian-tycoon-gautam-adani-unseats-mukesh-ambani-asias-richest?utm_source=rss_feed Tue, 08 Feb 2022 01:49:30 +0000 India’s renewables sector looks set to become a battleground between the fossil-fuel tycoons Mukesh Ambani and Gautam Adani, who are going head-to-head in an ambitious pivot to green energy that aligns with Prime Minister Narendra Modi’s aggressive climate targets. For six years, Adani, Asia’s second-richest person who heads coal-to-ports giant Adani Enterprises, was the only powerhouse player in India’s renewables space. But now Ambani, Asia’s wealthiest magnate who leads oil-to-retail... https://www.scmp.com/week-asia/health-environment/article/3155819/cop26-can-billionaire-fossil-fuel-tycoons-mukesh?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3155819/cop26-can-billionaire-fossil-fuel-tycoons-mukesh?utm_source=rss_feed Sat, 13 Nov 2021 09:00:21 +0000 Although India has been hit tragically hard by the Covid-19 pandemic, the rich have somehow still come out on top, with Forbes reporting the total number of billionaires in the country rising from 102 to 140 since last year, based on the 12 months up to April. Between them, the three crazy richest Indians – Mukesh Ambani, Gautam Adani and Shiv Nadar – added a combined US$100 billion to their collective net worth. So how did they make all that money? From telecoms to vaccines to banking, these... https://www.scmp.com/magazines/style/news-trends/article/3141832/mukesh-ambani-gautam-adani-how-6-indias-most-crazy-rich?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/3141832/mukesh-ambani-gautam-adani-how-6-indias-most-crazy-rich?utm_source=rss_feed Thu, 22 Jul 2021 00:00:08 +0000 Most people – if we’re lucky – can get through life without facing any brushes with death. But the world’s billionaires are not “most people”. Besides that infamous Ambani bomb threat earlier this year, Gautam Adani, the second-richest man in Asia, has already experienced two life-threatening situations in the past: a kidnapping for ransom and a terrorist attack at a luxury hotel. So what happened exactly, and how did the 58-year-old tycoon overcome the trauma of these potentially fatal... https://www.scmp.com/magazines/style/news-trends/article/3138181/dangers-being-asias-second-richest-man-gautam-adani-was?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/3138181/dangers-being-asias-second-richest-man-gautam-adani-was?utm_source=rss_feed Tue, 22 Jun 2021 00:00:00 +0000 Gautam Adani has come a long way since his humble beginnings as a dropout from a bachelor’s degree in commerce at Gujarat University, Ahmedabad. Now at the helm of the Adani Group – which is involved in numerous industries including power generation, oil, real estate and infrastructure – Adani has overtaken Chinese bottled water tycoon Zhong Shanshan to become the second-richest man in Asia. Forbes reports that his wealth grew to US$66.2 billion due to the rapid rise in share prices of companies... https://www.scmp.com/magazines/style/luxury/article/3135424/move-over-mukesh-ambani-heres-how-indian-billionaire-gautam?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3135424/move-over-mukesh-ambani-heres-how-indian-billionaire-gautam?utm_source=rss_feed Mon, 31 May 2021 02:11:05 +0000 After two decades building a business empire centred around coal, Indian billionaire Gautam Adani is now looking beyond the fossil fuel to cement his group’s future. His ambitious plans are getting a boost from Prime Minister Narendra Modi. Adani has emerged as India’s infrastructure king, diversifying from mines, ports and power plants into airports, data centres and defence – sectors Modi considers crucial to meeting India’s economic goals. Investors are rewarding the pivot, betting the... https://www.scmp.com/news/asia/south-asia/article/3126869/indias-next-ambani-coal-king-gautam-adani-pivots-line-modis?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3126869/indias-next-ambani-coal-king-gautam-adani-pivots-line-modis?utm_source=rss_feed Thu, 25 Mar 2021 06:00:07 +0000 Two of India’s richest men have landed in an unlikely controversy over farming laws, becoming targets of protesters who allege the tycoons have benefited from their close links to Prime Minister Narendra Modi. For weeks, tens of thousands of farmers have camped outside the nation’s capital, demanding the withdrawal of recently passed legislation they say, without evidence, was designed to allow billionaires such as Mukesh Ambani and Gautam Adani to enter farming. The tycoons say they have no... https://www.scmp.com/news/asia/south-asia/article/3118078/why-indias-mukesh-ambani-and-gautam-adani-were-targeted?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3118078/why-indias-mukesh-ambani-and-gautam-adani-were-targeted?utm_source=rss_feed Sun, 17 Jan 2021 09:00:34 +0000 Gautam Adani has a knack for surviving crisis. He was held for ransom more than two decades ago and in 2008 was among the hostages of Mumbai’s Taj Mahal Palace hotel during the terror attacks that killed more than 160 people. Since then, his business acumen and ability to overcome obstacles have propelled him to the ranks of India’s richest. And while the coronavirus outbreak sank the nation into an unprecedented recession this year, Adani’s group has kept growing. His conglomerate secured... https://www.scmp.com/news/asia/south-asia/article/3113841/how-indian-billionaire-gautam-adani-overcame-mumbai-terror?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3113841/how-indian-billionaire-gautam-adani-overcame-mumbai-terror?utm_source=rss_feed Mon, 14 Dec 2020 06:30:37 +0000