Gautam Adani is the second richest businessman not only in India but also in Asia. Early last year, American short seller Hindenburg Research had made serious allegations against him. Now before the end of the year, American prosecutors have made very serious allegations like bribery. The special thing is that an American court has even issued a warrant against 7 people along with Gautam Adani.
Not only India but the whole world was astonished to see the growth of Gautam Adani in the last few years. In the year 2022, Gautam Adani had become the third richest businessman in the world with $150 billion. In such a situation, it is natural to discuss about them. Where the development story of Gautam Adani is connected. On the other hand, there were many stories of Gautam Adani’s controversies. Today let us turn to the same pages, where many stories of Adani’s surveillance are published.
From Taj Hotel to Hindenburg
Indian billionaire Gautam Adani, convicted in New York in a $265 million bribery case, is a first-generation business tycoon. Gautam Adani, Asia’s second-richest man and one of the many trapped inside Mumbai’s Taj Hotel in 2008, faces a US arrest warrant and criminal penalties on fraud and bribery charges. From electricity and ports to sugar and soybean, Adani Group’s joint market had suffered a loss of more than $150 billion. This story happened when American short seller Hindenburg Research accused Adani Group of improperly using offshore tax havens. After a long struggle, Adani compensated $141 billion. In the current situation, Adani Group market cap is more than 141 billion dollars.
When the wealth was lost
62-year-old high school dropout Gautam Adani became the third richest businessman in the world. His total wealth had reached 150 billion dollars. After the release of the Hindenburg report, a significant impact was seen in Adani’s wealth. According to the Bloomberg Billionaires Index, after the net worth of $120 billion on January 23, 2023, Adani’s total net worth reached $37 billion on February 27.
After that, his business slowly but surely came back on track and he was again included in the list of 10 richest people in the world and in the month of this year, his net worth had crossed 120 billion dollars. Now at present Adani’s total net worth has reached below 175 billion dollars. On November 11, there was a loss of more than 10 billion dollars in his net worth.
Questions raised in Australia and Bangladesh
The story of Gautam Adani’s controversies was not limited to just Mumbai, Gujarat or the borders of India. Seen in other countries also. The group’s coal and power projects and other deals have been questioned in countries such as Australia and Bangladesh; Indian opposition leaders have regularly used Adani to attack Prime Minister Narendra Modi’s government, citing Adani’s role in the redevelopment of Dharavi. Also included in the contract. In which it was alleged that the government has benefited Adani by selling Dharavi land at throwaway prices. However, in this case the government and Adani have denied the allegations. ,
Adani and seven others agreed to bribe Indian government officials to obtain supply contacts that could yield $2 billion in profits over 20 years and develop India’s largest solar energy plant, US officials said on Wednesday. Was. However, Adani Group has denied all these allegations.
This is how the journey started
Born on June 24, 1962, in Ahmedabad city in the western state of Gujarat – which is also Modi’s home state – Adani left school at the age of 16 after completing 10th grade. He founded Adani Group in 1988, starting with commodity trading. Gautam Adani himself expanded and expanded his business. He did not inherit any wealth. He belonged to a middle class family, which was engaged in clothing business. His wife’s name is Preeti Adani who is a dentist. His two sons Karan and Jeet are handling many businesses of the Adani Group.
To whom do we give credit for popularity?
According to people with direct knowledge of Gautam Adani’s business, he has a “very practical” style of running his empire, adding that his target is to hand over the business to the next generation of the family when he turns 70. In interviews with local and foreign media, Adani has called himself a shy person and attributed his rise in popularity to the political attacks he has faced. Soon after Donald Trump’s victory in the recent US elections, Adani congratulated him on his victory on Twitter and wrote that his group will invest $10 billion in American energy and infra projects. Due to which there will be a possibility of generating 15,000 jobs in America.
