Intro About Gautam Adani

8/3/2019 Intro About Gautam Adani

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Intro about Gautam adani

Indian Entrepreneur and Self Made Billionaire Gautam Adani , 46, is the Chairman of theAdani Group, one of the top diversified conglomerates of India. According to Forbes 2009Gautam Adani has the net worth of $ 1.6 Billion.

Gautam Adani was born on the 24th of June, year 1962 in Ahmedabad. Adani a college dropout ,was only in his teens when he came to Mumbai where he got the job of a diamond sorter. Aftersome time, he started a diamond brokerage business .

In the early 80s he returned to Ahemedabad to enter the plastic business . After that Adani beganto import PVC. (a raw material required for manufacturing of plastics). This is when he
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ventured into global trading . Economic liberalisation in India had a positive impact on hisbusiness. In the late 90s Gautam Adani diversified into infrastructure .

Today Adani Group has transformed into a multi billion dollar businees empire . GautamAdanis Business Interests include the following: Power, Infrastructure, Trading, Power,

Energy Logistics, SEZs, and Oil and Gas Exploration . Gautam Adani is the manbehind Mundra Port, the largest private sector port in India.

Adani Foundation, started in 1996, manages the Corporate Social Responsibility (CSR)activities of the Adani Group. The foundation is involved in various activities such as ruraldevelopmemt, education , and health.

Biography of gautam adani

Gautam Adani (Hindi : ) (born June 24, 1962), is an Indian businessman. He isthe chairman of the Adani Group , a leading trading and export company of India. In March, 2011Forbes magazine announced that Adani is the 6th richest person in India with a personal wealthof US $10 billion. He is the first billionaire from the city of Ahmedabad .[1]

Contents

[hide]

1 Early Biography o 1.1 Early Career and Adani Enterprises

2 Personal and Family life 3 References

[edit ] Early Biography

Gautam Adani was born in Ahmedabad , India , to Shantilal and Shantaben Adani in a GujaratiJain family. He had 7 siblings. Adani's parents had migrated from a community of entrepreneursin Tharad in north Gujarat .[2]. Adani was born in the Seth ni Pol area located in Ratanpol inAhmedabad. He set out for Mumbai to make a living with only a few hundred rupees at the ageof 18.He studied at the Seth C. N. Vidyalya school in Ahmedabad and later on at GujaratUniversity. Adani is a University dropout, he studied till his second year for a Bachelor's Degreein Commerce.
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He worked in Mumbai as a diamond sorter at Mahindra Bros. After working there for two years,Adani, 20 at the time, set up his own diamond brokerage outfit at Zaveri Bazaar and made hisfirst lakh.[3]

In 1981, one year later, his elder brother Mansukhbhai, bought a plastics unit in Ahmedabad and

asked Gautam to run it. This marked the beginning of Adani's foray into global trading bybeginning to import polyvinyl chloride (PVC), a key raw material for manufacturing plastics.After the economic liberalisation , the import duty on various goods was slashed, and profits of Adani Exports, then his flagship company, grew immensely .[4]

In 1997 he was kidnapped for ransom .[5] 11 years later, he was again held hostage during thesiege at Taj Mahal Palace & Tower in Nov 2008 .[6]

[edit ] Early Career and Adani Enterprises

In 1988 he set up an import-export company called Adani Enterprises .[7]

It imported PVC and took on the giant Reliance Industries which produced PVC in India .[8]

In 1993 the Gujarat government invited private companies to run the Mundra Port , and in 1995the contract was given to Adani .[9]

In 2006, Mundra Port was developed into a Special Economic Zone .[10]

[edit ] Personal and Family life

Adani is married to Priti, aged 46 .[11] She is a dentist and heads the Adani Foundation, of whichshe is the managing trustee.

When he was a small trader, Adani's father in law accepted him as a husband for his daughterafter an astrologer said "the boy will float in riches and his wife will be a queen" .[12]

They have two sons. Karan, 24 [13], is pursuing his BS in Management from Purdue University , USA. Jeet Adani, their younger son is 13 years old [citation needed ]. Gautam Adani owns 2 private jets- a Beechcraft jet purchased in 2005 and a Hawker purchased in 2008 .[3]

[edit ] References

1. ^ "India now has 40 billionaires, Lakshmi Mittal tops the Forbes list" . Forbes.2. 3. Gautam Adani (born June 24, 1962 in Ahmedabad, India) is an Indian businessman. He is

the chairman of the Adani Group, a leading trading and export company of India. OnMarch 10, 2010 Forbes magazine announced that Adani is the 13th richest person inIndia with a personal wealth of US $4.8 billion, making him the first billionaire from thecity of Ahmedabad
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.wikipedia.org/wiki/Gautam_Adani#cite_note-11http://en.wikipedia.org/wiki/Gautam_Adani#cite_note-10http://en.wikipedia.org/w/index.php?title=Gautam_Adani&action=edit&section=3&editintro=Template:BLP_editintrohttp://en.wikipedia.org/wiki/Gautam_Adani#cite_note-9http://en.wikipedia.org/wiki/Special_Economic_Zonehttp://en.wikipedia.org/wiki/Gautam_Adani#cite_note-8http://en.wikipedia.org/wiki/Mundra_Porthttp://en.wikipedia.org/wiki/Gautam_Adani#cite_note-7http://en.wikipedia.org/wiki/Gautam_Adani#cite_note-6http://en.wikipedia.org/w/index.php?title=Gautam_Adani&action=edit&section=2&editintro=Template:BLP_editintrohttp://en.wikipedia.org/wiki/Gautam_Adani#cite_note-5http://en.wikipedia.org/wiki/Taj_Mahal_Palace_%26_Towerhttp://en.wikipedia.org/wiki/Gautam_Adani#cite_note-4http://en.wikipedia.org/wiki/Gautam_Adani#cite_note-itoday-3http://en.wikipedia.org/wiki/Economic_reforms_in_Indiahttp://en.wikipedia.org/wiki/Polyvinyl_chloridehttp://en.wikipedia.org/wiki/Gautam_Adani#cite_note-midas-2http://en.wikipedia.org/wiki/Lakh


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4.

5. Biography 6. 7. Gautam Adani was born on June 24, 1969, to Shantilal and Shantaben Adani in a Gujarati

Jain family. He had seven siblings. Adani's parents had migrated from the town of Tharadin northern Gujarat in search of livelihood. Adani was born in the Seth ni Pol are locatedin Ratanpol in Ahmedabad. He set out for Mumbai to make a living with only a fewhundred rupees at a young age of 18 only.He studied at the Seth C. N. Vidyalya school inAhmedabad and later on at Gujarat University. Adani is a University dropout, he studiedtill his second year for a Bachelor's Degree in Commerce.

8. He worked in Mumbai as a diamond sorter at Mahindra Bros. After working there for twoyears, Adani, 20 at the time, set up his own diamond brokerage outfit at Zaveri Bazaarand made his first lakh.

9. In 1981, one year later, his elder brother Mansukhbhai, bought a plastics unit inAhmedabad and asked Gautam to run it. This marked the beginning of Adani's foray intoglobal trading by beginning to import polyvinyl chloride (PVC), a key raw material formanufacturing plastics. After the economic liberalisation, the import duty on variousgoods was slashed, and profits of Adani Exports, then his flagship company, grewimmensely.

10. Adani is married to Priti Adani. She is a dentist and heads the Adani Foundation, of which she is the managing trustee. They have two sons. Karan Adani, 20[citationneeded], is pursuing his BS in Management from Purdue University, USA. Jeet Adani,their younger son is 10 years old[citation needed]. Gautam Adani owns 2 private jets - aBeechcraft jet purchased in 2005 and a Hawker purchased in 2008

11.

12. Entrepreneurs Gautam Adani 13. 14. AHMEDABAD: Entrepreneurs Gautam Adani and the late Dhirubhai Ambani have more

in common than just home state Gujarat the former shares with the Reliance patriarchthe art of correctly reading Indias political tea leaves.

15. 16. It is common knowledge that bureaucrats and politicians have to be kept in good humour

if entrepreneurs have to achieve what they aim for, even when what they do is perfectlylegal.

17. 18. But only a few succeed at this, the trick lying in how one approaches the powerful. Even

seasoned businessmen such as Lakshmi Mittal and Ratan Tata indulge in the occasionaloutburst against the bureaucracy for inordinate delays. But not Gautam Adani, despitefacing similar hurdles.

19. 20. The 48-year old may appear soft, but plays hardball. If all goes as planned, by 2020, the

matriculates ventures would produce 20,000 MW of power, handle 200 million tonnes of cargo at his port in Mundra and mine 200 million tonnes of coal and other ores.

21.


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22. Adani, who started dealing in diamonds in Mumbai in 1980 has come to be worth morethan Rs 30,000 crore in three decades. He did not make his money from the fancy 21stcentury businesses such as software or telecom, like NR Narayana Murthy of Infosys orSunil Mittal at Bharti Airtel.

23.

24. Instead, the burly Adani ventured into what merchants during the Chola empire athousand years ago and the British East India Company did: Build ports to facilitatetrade. It did not require great technical knowledge, or massive funds. All that was neededwas skills to persuade the bureaucracy to allot land and guide policies.

25. "If you look at the group, there is nothing innovative," says Sanjay Gupta, former chief executive, infrastructure, at the Adani group, who brought some method to the madnessof making money at Adani Enterprises, the group holding company.

26. 27. The company, founded with a capital of Rs 5 lakh in 1988 to trade, manages ports,

develops real estate, produces electricity, trades in agricultural commodities and exploresoil. In a matter of months, it would have raised Rs 5,500 crore, including the current

share sale to funds

Adani's gameplan for the big league

Ranju Sarkar & Kalpesh Damor / New Delhi/ahmedabad August 24, 2010, 0:06 IST

November 26, 2008 is a date that Gautam S Adani, will never forget. He was at the Chambersrestaurant of the Taj Mahal Hotel in Mumbai when terrorists struck, spending two fearful hoursholed up in the darkness until he and fellow diners were rescued by troops.

Yet, calamity and, indeed, controversy have done little to dampen Adanis indomitablespirit as he relentlessly pursues the pieces of an industrial empire straddling coal mining, coaltrading, and power generation to ports and development of special economic zones (SEZs). Andas he grows, capturing value across the chain and exploring linkages along the way, he has wonover critics and investors alike.

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Given his strategy of backward and forward integration, comparisons with Dhirubhai Ambani arerecurrent and often apt. Like Dhirubhai, Adani never went to B-school. Like Dhirubhai, Adani has grownat a furious pace and raised over Rs 10,000 crore from the market. And like Dhirubhai, Adani hasbecome a darling of investors by successfully executing large projects.

But thats where the similarities end. Because unlike Dhirubhai, who createdhuge assets, Adani has so far been mostly a trader, with no asset base. So, to

remedy this, Adanis next phase of growth envisions taking the groups assetbase from $6 billion to $15 billion in the next five years.

Adani is already the largest importer of coal (for power utilities) and is using thegroups knowledge of the business to foray into power generation. He plans to

invest Rs 55,000 crore to set up 13,200 Mw in generation capacity by March 2016, half of whichis under execution. To fuel the plants, Adani is acquiring coal mines and ships that will insulatehim from the price vagaries of the commodities and shipping markets.

We are offering an integra ted infrastructure play with coal, power and mining under onecompany (Adani Enterprises). We are moving from a trading, to an asset-based organisation

which is a big transformation, says an Adani group official.

Adani, who lost his mother the week he signed a $2.7- billion agreement with Australias LincEnergy, was unavailable for comment as he is still in mourning. This deal will help him fuel hispower plans, helping him source coal at $45 a tonne against an average international price lastyear of $7 6. Without a doubt, Adanis power plans, if they come good, could catapult him intothe big league.
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Thats quite a makeover for a man born into a family of oilseed traders in Ahmedabad, fromwhere Adani moved to Mumbai for higher studies. Staying with a cousin, who was a trader,enabled him to learn the business. In 1980, a crisis at his family-owned small plasticmanufacturing unit forced him to return to Ahmedabad, which proved to be a turning point in hislife. Faced with an acute scarcity of raw materials, he got a government trading house to import

the much-needed input.By 1985, Adani built a business importing raw materials such as coal, oilseeds and syntheticfibre intermediates and exporting agro and petrochemical products, as well as textiles. Fromthose modest business beginnings, the Adani group has evolved into a Rs 27,000-crore empirebuilt on the edifice of cash-rich commodities trading. His three listed companies AdaniEnterprises, Adani Power, and Mundra Port and Special Economic Zone have a combinedmarket capitalisation of Rs 101,878 crore, which places the group among Indias top 10 businesshouses.

The groups first big foray outside trading was Mundra Port, and it cemented Adanis reputation

for turning adversity to his advantage with a little help. When a proposed joint venture withCargill fell through, Adani took advantage of Gujarats new policies to set up the Mundra port in1998. Initially, the state had 26 per cent in the project, but later offloaded it to Adani. TheMundra port acted as a catalyst for the growth of the Adani empire. Credit must go to Adani'srisk- taking abilities, says a retired state official.

Adani laid a 65-km rail line connecting the port tothe national rail network. It is doubling this track,which will help it carry three times more cargo.Mundra, once a sleepy town known for its datepalms until just a decade ago, today handles 40

million tonnes of cargo, and will soon starthandling 100 million tonnes once a coal importterminal comes up by October 20 10. Adani hadthe courage to convert his plans into reality, saysentrepreneur Nikhil Gandhi, who promoted thePipavav port.

Its not just infrastructure that Adani has excelledin. In 1999, it joined hands with WilmarInternational of Singapore to set up a vegetable oilrefining unit. In few years, the Rs 6,000-croreAdani Wilmars Fortune has emerged the largest -selling edible oil brand, giving many a fast-movingconsumer goods company a run for their money.Adani has also forayed into city gas distributionand has licences for 11 cities.

Adani certainly has a knack for identifying opportunities and then doggedly pursuing them totheir logical conclusion. When the SEZ opportunity arose, he began acquiring land around his


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Mundra port to set up a multi-product SEZ. He floated a new company and merged it withGujarat Adani Ports to create Mundra Port and Special Economic Zone Ltd (MPSEZ), whichwent public in 2007 and raised Rs 1,700 crore.

Gautam Adani has demonstrated an ability to execute big projects, which has given investors

comfort. Investors who made money on Mundra came back to invest in power, says a merchantbanker.

Yet, the groups rise has not been without its share of controversy. Adanis brother Rajesh Adaniwas arrested earlier this year by the Central Bureau of Investigation in a tax-evasion case. In thepast, Gautam Adani himself was in the news for all the wrong reasons: in 1999, for hiskidnapping, and in 2002, for his arrest by Delhi police. Before that, he had been under scrutinyfor possible complicity with rogue trader Ketan Parekh.

Nevertheless, Adani has emerged largely unscathed from these incidents. Indeed, officials saythe stock markets regulator would not have cleared the IPOs for Mundra Port & SEZ and Adani

Power if there had been any issues. Group officials say many of these cases were triggered bybusiness rivals. Whatever be the case, few can deny that Adani has grown to become a powerfulforce to be reckoned with on the countrys industrial landscape.

Gautam Adani: Another Gujarati who made it bigAnto T Joseph Dec 8, 2007, 02.50am IST

MUMBAI: There is a 'Wagah Border' at the Mundra Port, a thriving private port in the heart of the barren lands of north Gujarat. Often, there is tension across the border. The workers on either side sometimes exchange greetings inKutchi slang, but do not cross the LoC.

The other side of the fence belongs to Dubai Port Word (DP World), a giant terminal operator from the Middle Eastthat now owns and operates the container terminal at Mundra. Mundra Port is owned and operated by the AdaniGroup while the terminal is operated by DP World through a sub-concession agreement.

The two are now fighting a long legal battle at the Ahmedabad High Court, with a termination notice by the Adanishaving been challenged by the Dubai operator.

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Adding fuel to fire were the recent public offerings by both the groups. Both Mundra Port and Special EconomicZone (MPSEZ) and DP World hit the primary markets in Mumbai and Dubai, respectively, in the same month,November 2007, but with different results.

While MPSEZ almost trebled its market cap to over $13 billion, DP World, after its mega takeover of British portoperator P&O Ports, has seen its market cap slip from about $22 billion. The rivalry between the Adanis and DP

World may be recent, but the aggressive chairman of the Adani Group Gautam Adani has picked up quite a fewbusiness foes as his fortunes soared in recent years.

He is now among the 10 richest Indians, and is nosing his way up the ladder. Many who ET spoke to say he drawsmany a parallel with the iconic Dhirubhai Ambani. Like Dhirubhai, he is a first-generation industrialist who camefrom Gujarat with big dreams. Mr Adani's business instincts are very sharp and his rags-to-riches story is yet anotherexample of the finely-developed business acumen of people from that coastal state.

School dropout sparkles

A dropout from CN Vidyalay School's (Ahmedabad) commerce department, Mr Adani got engaged in diamondassortment at an early age of 18. He came to Mumbai like many of his peers in search of a big dream, learntdiamond assortment for almost four years.

He polished diamonds during his long, tiring working hours, and used to doze off in Mumbai's local trains due tosheer fatigue while travelling from work to his Borivli home. He went back to Ahmedabad to start a small plasticfactory with a capacity of 15 tonnes per month but struggled with raw material supply, like many other industries inthose `quota' days.

Mukesh Ambani richest Indian Person

November 13, 2008 at 6:36 am (Latest News ) (Adi Godrej , Anil Agarwal , Anil Ambani , Anurag

Dikshit , Azim Premji , Business Tycoons , Chandru Raheja , Cyrus Poonawalla , Dilip Shanghvi , GM Rao , Gautam Adani , India's richest people , India's top 40 richest people , Indu Jain , KalanithiMaran , Kumar Birla , Kushal Pal Singh , Lakshmi Mittal , Malvinder and Shivinder Singh , MickyJagtiani , Mukesh Ambani , N R Narayana Murthy , Rajan Raheja , Ramesh Chandra , Reliance , Savitri Jindal , Shashi and Ravi Ruia , Shiv Nadar , Subhash Chandra , Sunil Mittal , Uday Kotak , Venugopal Dhoot , Vivek Burman , Yusuf Hamied )

Relianc e Industries Mukesh Ambani has overtaken NRI steel tycoon Lakshmi Mittal as therichest Indian in the world, with a net worth of USD 20.8 billion, Forbes said in its annual richlist for the country.

Mittal, who has moved to second position with a net worth of USD 20.5 billion (rpt) USD 20.5 billion, is followed by Mukeshs younger brother Anil Ambani, whose wealth stood at USD 12.5billion.

Telecom czar Sunil Mittal and realtor K P Singh are ranked fourth and fifth with net worth of USD 7.9 billion and USD 7.8 billion, respectively.
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al-singh/http://varunsharma9.wordpress.com/tag/kushal-pal-singh/http://varunsharma9.wordpress.com/tag/lakshmi-mittal/http://varunsharma9.wordpress.com/tag/lakshmi-mittal/http://varunsharma9.wordpress.com/tag/lakshmi-mittal/http://varunsharma9.wordpress.com/tag/malvinder-and-shivinder-singh/http://varunsharma9.wordpress.com/tag/malvinder-and-shivinder-singh/http://varunsharma9.wordpress.com/tag/malvinder-and-shivinder-singh/http://varunsharma9.wordpress.com/tag/micky-jagtiani/http://varunsharma9.wordpress.com/tag/micky-jagtiani/http://varunsharma9.wordpress.com/tag/micky-jagtiani/http://varunsharma9.wordpress.com/tag/micky-jagtiani/http://varunsharma9.wordpress.com/tag/mukesh-ambani/http://varunsharma9.wordpress.com/tag/mukesh-ambani/http://varunsharma9.wordpress.com/tag/mukesh-ambani/http://varunsharma9.wordpress.com/tag/n-r-narayana-murthy/http://varunsharma9.wordpress.com/tag/n-r-narayana-murthy/http://varunsharma9.wordpress.com/tag/n-r-narayana-murthy/http://varunsharma9.wordpress.com/tag/rajan-raheja/http://varunsharma9.wordpress.com/tag/rajan-raheja/http://varunsharma9.wordpress.com/tag/rajan-raheja/http://varunsharma9.wordpress.com/tag/ramesh-chandra/http://varunsharma9.wordpress.com/tag/ramesh-chandra/http://varunsharma9.wordpress.com/tag/ramesh-chandra/http://varunsharma9.wordpress.com/tag/reliance/http://varunsharma9.wordpress.com/tag/reliance/http://varunsharma9.wordpress.com/tag/reliance/http://varunsharma9.wordpress.com/tag/savitri-jindal/http://varunsharma9.wordpress.com/tag/savitri-jindal/http://varunsharma9.wordpress.com/tag/shashi-and-ravi-ruia/http://varunsharma9.wordpress.com/tag/shashi-and-ravi-ruia/http://varunsharma9.wordpress.com/tag/shashi-and-ravi-ruia/http://varunsharma9.wordpress.com/tag/shiv-nadar/http://varunsharma9.wordpress.com/tag/shiv-nadar/http://varunsharma9.wordpress.com/tag/shiv-nadar/http://varunsharma9.wordpress.com/tag/subhash-chandra/http://varunsharma9.wordpress.com/tag/subhash-chandra/http://varunsharma9.wordpress.com/tag/subhash-chandra/http://varunsharma9.wordpress.com/tag/sunil-mittal/http://varunsharma9.wordpress.com/tag/sunil-mittal/http://varunsharma9.wordpress.com/tag/sunil-mittal/http://varunsharma9.wordpress.com/tag/uday-kotak/http://varunsharma9.wordpress.com/tag/uday-kotak/http://varunsharma9.wordpress.com/tag/uday-kotak/http://varunsharma9.wordpress.com/tag/venugopal-dhoot/http://varunsharma9.wordpress.com/tag/venugopal-dhoot/http://varunsharma9.wordpress.com/tag/vivek-burman/http://varunsharma9.wordpress.com/tag/vivek-burman/http://varunsharma9.wordpress.com/tag/vivek-burman/http://varunsharma9.wordpress.com/tag/yusuf-hamied/http://varunsharma9.wordpress.com/tag/yusuf-hamied/http://varunsharma9.wordpress.com/tag/yusuf-hamied/http://varunsharma9.wordpress.com/tag/yusuf-hamied/http://varunsharma9.wordpress.com/tag/vivek-burman/http://varunsharma9.wordpress.com/tag/venugopal-dhoot/http://varunsharma9.wordpress.com/tag/uday-kotak/http://varunsharma9.wordpress.com/tag/sunil-mittal/http://varunsharma9.wordpress.com/tag/subhash-chandra/http://varunsharma9.wordpress.com/tag/shiv-nadar/http://varunsharma9.wordpress.com/tag/shashi-and-ravi-ruia/http://varunsharma9.wordpress.com/tag/savitri-jindal/http://varunsharma9.wordpress.com/tag/reliance/http://varunsharma9.wordpress.com/tag/ramesh-chandra/http://varunsharma9.wordpress.com/tag/rajan-raheja/http://varunsharma9.wordpress.com/tag/n-r-narayana-murthy/http://varunsharma9.wordpress.com/tag/mukesh-ambani/http://varunsharma9.wordpress.com/tag/micky-jagtiani/http://varunsharma9.wordpress.com/tag/micky-jagtiani/http://varunsharma9.wordpress.com/tag/malvinder-and-shivinder-singh/http://varunsharma9.wordpress.com/tag/lakshmi-mittal/http://varunsharma9.wordpress.com/tag/kushal-pal-singh/http://varunsharma9.wordpress.com/tag/kumar-birla/http://varunsharma9.wordpress.com/tag/kalanithi-maran/http://varunsharma9.wordpress.com/tag/kalanithi-maran/http://varunsharma9.wordpress.com/tag/indu-jain/http://varunsharma9.wordpress.com/tag/indias-top-40-richest-people/http://varunsharma9.wordpress.com/tag/indias-richest-people/http://varunsharma9.wordpress.com/tag/gautam-adani/http://varunsharma9.wordpress.com/tag/g-m-rao/http://varunsharma9.wordpress.com/tag/g-m-rao/http://varunsharma9.wordpress.com/tag/dilip-shanghvi/http://varunsharma9.wordpress.com/tag/cyrus-poonawalla/http://varunsharma9.wordpress.com/tag/chandru-raheja/http://varunsharma9.wordpress.com/tag/business-tycoons/http://varunsharma9.wordpress.com/tag/azim-premji/http://varunsharma9.wordpress.com/tag/anurag-dikshit/http://varunsharma9.wordpress.com/tag/anurag-dikshit/http://varunsharma9.wordpress.com/tag/anil-ambani/http://varunsharma9.wordpress.com/tag/anil-agarwal/http://varunsharma9.wordpress.com/tag/adi-godrej/http://varunsharma9.wordpress.com/category/latest-news/http://varunsharma9.wordpress.com/2008/11/13/mukesh-ambani-richest-indian-in-forbes-list/


10/12

The magazine said that the combined net worth of Indias 40 richest has declined by 60 per centdue to weak stock markets amid depreciating rupee against the greenback.

Their total wealth is now USD 139 billion, down from USD 351 billion just a year ago,according to Forbes India Rich List.

These are painful times for Indias tycoons. The countrys once soaring stock market fell 48 per cent the past year, the rupee depreciated 24 per cent against the dollar, and GDP growth isexpected to slow by at least a percentage point, in part owing to double- digit inflation, ForbesAsia said in a statement.

While all 40 tycoons listed last year were billionaires, only 27 have 10-figure net worths now. Anet worth of 760 million dollar was needed to make to the list this year, 840 million dollar lessthan last year.

The Ruia brothers were ranked at sixth position with a net worth of USD 7.6 billion, followed by

Wipro Chairman Aziz Premji, worth USD 7 billion.The magazine states that the combined net worth of brothers Malvinder and Shivinder Singhincreased by USD 550 million, thereby grabbing 13th place on the list.

Their combined net worth stood at USD 2.8 billion after they sold their stake in RanbaxyLaboratories to Daiichi Sankyo.

The list says the major loser was property tycoon Ramesh Chandra, whose net worth dropped by91 per cent to USD 1 billion.

Among the new entrants in the list are retailer Micky Jagtiani at 16th position with a net worth of USD 2 billion, followed b y Divis Laboratories founder Murali Divi at 36th place with a networth of USD 870 million. Also Akruti Citys Hemant Shah stood at 37th place with a wealth of USD 830 million.

* Following is the list of Indias top 40 richest people as compiled by US -based businessmagazine Forbes.

Rank Name Net Worth ($mil)

1. Mukesh Ambani: 20,800

2. Lakshmi Mittal: 20,500

3. Anil Ambani: 12,500

4. Sunil Mittal: 7,900

5. Kushal Pal Singh: 7,800


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6. Shashi and Ravi Ruia: 7,600

7. Azim Premji: 7,000

8. Kumar Birla: 5,000

9. Adi Godrej: 4,000

10. Gautam Adani: 3,900

11. Dilip Shanghvi: 3,100

12. Savitri Jindal: 2,900

13. Malvinder and Shivinder Singh: 2,800

14. Anil Agarwal: 2,400

15. Shiv Nadar: 2,200

16. Micky Jagtiani: 2,000

17. Indu Jain: 1,800

18. Cyrus Poonawalla: 1,600

19. Uday Kotak: 1,550

20. Chandru Raheja: 1,500

21. G M Rao: 1,470

22. Vivek Burman: 1,300

23. Anurag Dikshit: 1,250

24. Kalanithi Maran: 1,200

25. Venugopal Dhoot: 1,100

26. Yusuf Hamied: 1,060

27. Ramesh Chandra: 1,000

28. Subhash Chandra: 970


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29. N R Narayana Murthy: 965

30. Rajan Raheja: 950

31. Brijmohan Lall Munjal: 940

32. Baba Kalyani: 935

33. Tulsi Tanti: 930

34. Jaiprakash Gaur: 890

35. Niranjan Hiranandani: 885

36. Murali Divi: 870

37. Hemant Shah: 830

38. Gracias Saldanha: 825

39. Anand Jain: 810

40. Rahul Bajaj: 760

Intro About Gautam Adani

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Transcript of Intro About Gautam Adani