Gautam Adani

Gautam Adani
Adani in 2012
Gautam Adani
Born	Gautam Shantilal Adani 24 6, 1962
Birthplace	Ahmedabad, Gujarat, India
Nationality	Indian
Occupation	Businessman
Title	Chairman, Adani Group
Known for	Founder and chairman of Adani Group
Education	Sheth Chimanlal Nagindas Vidyalaya (dropped out)
Children	2

Gautam Shantilal Adani (born 24 June 1962) is an Indian billionaire businessman and the founder and chairman of the Adani Group, a multinational conglomerate with operations spanning port management, energy, logistics, agribusiness, real estate, and infrastructure. From modest beginnings as a diamond sorter in Mumbai, Adani built one of India's largest business empires, with the Adani Group becoming a dominant force in India's port operations and energy sectors. His rapid ascent in global wealth rankings drew international attention in the early 2020s; in 2022, Time magazine named him one of the 100 most influential people in the world. Adani's business career has also been marked by controversy, including allegations of stock manipulation raised by the American short-selling firm Hindenburg Research in January 2023, and a criminal indictment issued by the U.S. Attorney's Office in Brooklyn, New York, in November 2024, charging him and other executives with bribery. He has denied wrongdoing in both matters. As of February 2026, the Adani Group has announced plans to invest $100 billion in renewable-energy-powered, hyperscale AI-ready data centres across India by 2035, signaling a major expansion into technology infrastructure.

Early Life

Gautam Shantilal Adani was born on 24 June 1962 in Ahmedabad, Gujarat, India. He attended Sheth Chimanlal Nagindas Vidyalaya in Ahmedabad but did not complete his formal education. In 1978, at the age of sixteen, Adani left school and moved to Mumbai, where he found employment as a diamond sorter with Mahendra Brothers.

Adani's time in the diamond trade was formative but brief. In 1981, he returned to Ahmedabad to manage a plastics unit owned by his elder brother. This role introduced him to the world of global commodity trading, particularly in polyvinyl chloride (PVC) imports. The experience he gained in managing supply chains and navigating international trade would prove instrumental in his later business ventures.

Adani is known to have survived personal dangers during his rise. In the late 1990s, he was the victim of a kidnapping attempt in Ahmedabad. Two individuals were accused of abducting Adani approximately twenty years before a 2018 court ruling; however, the accused were acquitted by the court due to insufficient evidence. Adani was also reported to have been present at the Taj Mahal Palace Hotel in Mumbai during the November 2008 terrorist attacks and survived the ordeal.

His brother Vinod Adani has also been involved in the Adani Group's business activities and has featured prominently in various reports about the conglomerate's corporate structure and overseas operations.

Education

Adani attended Sheth Chimanlal Nagindas Vidyalaya, a school in Ahmedabad. He dropped out in 1978 without completing his secondary education and did not pursue a college degree. Instead, he moved directly into commercial work, first in Mumbai's diamond industry and later in commodity trading in Ahmedabad.

Career

Early Trading and Founding of Adani Group

After returning to Ahmedabad in 1981 to manage his brother's plastics unit, Adani gained experience in the import of PVC and other commodities. This period of commodity trading laid the groundwork for his entrepreneurial ambitions. In 1988, Adani formally established the Adani Group, initially focused on commodity trading and later expanding into a diversified conglomerate.

The Adani Group's early growth was driven by its involvement in agricultural commodities and the import-export trade. Adani leveraged India's economic liberalisation in the early 1990s, which opened up new opportunities for private-sector companies to participate in industries that had previously been dominated by state enterprises.

Expansion into Ports and Infrastructure

A defining chapter in the Adani Group's growth was its entry into port development and management. The group developed the Mundra Port in Gujarat into one of the largest commercial ports in India. Mundra Port became a critical hub for India's trade, handling coal, crude oil, containers, and other cargo. The port's success established the Adani Group as a major infrastructure player and provided a steady revenue stream that funded further expansion.

Through Adani Ports and Special Economic Zone (APSEZ), the group expanded its port operations to multiple locations across India, becoming the country's largest private port operator. The company's logistics capabilities extended beyond port operations to include warehousing, inland transport, and shipping services.

Energy Sector

The Adani Group expanded significantly into the energy sector, encompassing both fossil fuels and renewable energy. Adani Power became one of the largest private thermal power producers in India, operating coal-fired power plants across multiple states. The group also invested in coal mining operations, both domestically and internationally, including the controversial Carmichael coal mine project in Queensland, Australia.

In the renewable energy space, Adani Green Energy emerged as one of the world's largest solar energy companies. The group committed to building a substantial portfolio of solar and wind energy installations, aligning with India's broader goals for expanding renewable energy capacity.

As of February 2026, the Adani Group's energy ambitions continued to evolve. In Bangladesh, the government announced plans to renegotiate its power purchase agreement with Adani Power Ltd., seeking lower electricity prices under the terms of the deal. In India, Adani personally reviewed power projects worth over ₹40,000 crore (approximately US$4.7 billion) in Jharkhand and Bihar in February 2026.

Technology and AI Infrastructure

In February 2026, the Adani Group announced plans to invest $100 billion to develop renewable-energy-powered, hyperscale AI-ready data centres across India by 2035. The initiative represented a significant strategic pivot into the technology infrastructure sector, aiming to position India as a global hub for artificial intelligence computing capacity powered by clean energy.

Wealth and Rankings

Adani's personal wealth grew substantially in the early 2020s, attracting significant media and investor attention worldwide. The BBC reported on his rapid rise in global wealth rankings, noting the scale and speed of his fortune's growth. Bloomberg Opinion noted that Adani's fortune surpassing that of Jeff Bezos at certain points in 2022 "deserves greater recognition" as a milestone for an Indian business figure on the global stage.

Controversies and Legal Proceedings

Hindenburg Research Report

On 24 January 2023, the American short-selling firm Hindenburg Research published a report accusing the Adani Group of stock manipulation and accounting fraud over the course of decades. The report alleged that the group had engaged in a "brazen stock manipulation and accounting fraud scheme" and raised questions about the use of offshore shell companies, related-party transactions, and the group's high debt levels.

The Adani Group responded forcefully, calling the Hindenburg report a "malicious combination of selective misinformation." The group published a detailed 413-page rebuttal, which it described as a comprehensive response to each allegation raised in the report. The group also said it was "evaluating taking action" against Hindenburg Research. Reuters reported that Adani Group threatened legal action against Hindenburg Research, a firm that had rarely been sued in the United States.

Hindenburg Research responded by daring the Adani Group to follow through on its legal threats. The Wall Street Journal provided ongoing coverage of the unfolding dispute between the two parties. The Adani Group further described the Hindenburg report as intended to "create a false market."

The fallout from the report was significant. Adani Group stocks experienced sharp declines, wiping billions of dollars off the conglomerate's market capitalisation. In January 2024, the Supreme Court of India resolved the stocks dispute arising from the Hindenburg allegations, dismissing requests for a Special Investigation Team (SIT) or Central Bureau of Investigation (CBI) probe into the matter.

Earlier Legal Matters

Prior to the Hindenburg episode, Adani and members of his family had faced other legal proceedings. An Ahmedabad court withdrew non-bailable warrants that had been issued against Adani. In a separate case, a Maharashtra court discharged the Adani brothers in a cheating case. However, in a share-rigging case, a court overturned a clean chit that had previously been given to the Adanis.

U.S. Criminal Indictment and SEC Civil Case

On 20 November 2024, the U.S. Attorney's Office for the Eastern District of New York issued a five-count criminal indictment charging Gautam Adani and other Adani Group executives with bribery. The indictment alleged that Adani paid over $250 million in bribes to Indian government officials to secure energy contracts in the states of Andhra Pradesh, Chhattisgarh, Odisha, Jammu and Kashmir, and Tamil Nadu. Adani has denied the allegations.

In parallel with the criminal case, the U.S. Securities and Exchange Commission (SEC) pursued a civil fraud lawsuit against Adani. In January 2026, the SEC case cleared a procedural hurdle related to serving Adani with the lawsuit, allowing the case to proceed. Bloomberg reported that Adani hired a prominent Wall Street lawyer in connection with the case, which was interpreted as a sign that the SEC proceedings would advance significantly. The American Bazaar reported on the SEC's progress in moving forward with the civil fraud case, noting that parallel criminal proceedings remained active.

Political Connections and Allegations of Cronyism

Adani has been described in media reports as having a close relationship with India's Prime Minister Narendra Modi and the ruling Bharatiya Janata Party (BJP) government. Both Adani and Modi hail from Gujarat, and Adani's business expansion accelerated notably during the period of Modi's political ascent, first as Chief Minister of Gujarat and subsequently as Prime Minister of India. These connections have led to allegations of cronyism from political opponents and media commentators. Adani and the Adani Group have denied that the conglomerate has received any undue favours from the government.

Personal Life

Gautam Adani is based in Ahmedabad, Gujarat, where the Adani Group is headquartered. He has two children. His elder brother, Vinod Adani, has been involved in the Adani Group's business activities and has been referenced in various reports concerning the conglomerate's corporate structure and international operations.

Adani's personal security became a subject of public attention following the reported kidnapping attempt in Ahmedabad and his presence at the Taj Mahal Palace Hotel during the 2008 Mumbai terrorist attacks.

Recognition

In 2022, Time magazine included Gautam Adani in its annual list of the 100 most influential people in the world, recognising his influence on the global business landscape and India's infrastructure development.

Adani's rise in global wealth rankings attracted sustained international media coverage. At various points in 2022, he was ranked among the top three richest people in the world, surpassing figures such as Jeff Bezos and Bill Gates in certain lists. Bloomberg and Forbes both tracked his wealth trajectory as his companies' stock prices surged.

The BBC profiled Adani in a feature titled "India's richest man and his remarkable rise," examining his path from a college dropout in Ahmedabad to the helm of one of India's largest conglomerates.

Legacy

Gautam Adani's career represents a significant chapter in the history of Indian private enterprise in the post-liberalisation era. Beginning with commodity trading in the late 1980s, the Adani Group grew into a conglomerate with interests spanning ports, energy, logistics, mining, airports, cement, media, and technology infrastructure. The group's development of Mundra Port transformed it into one of India's most important commercial gateways, and Adani's investments in both thermal and renewable energy have made the conglomerate a central player in India's energy landscape.

Adani's business trajectory has also been a subject of debate. Supporters point to the scale of infrastructure development, job creation, and India's strategic positioning that the Adani Group's investments have enabled. Critics have raised questions about the group's rapid growth in proximity to political power, the environmental impact of its coal operations, and the corporate governance issues raised by the Hindenburg Research report and subsequent legal proceedings in the United States.

The Adani Group's announcement of a $100 billion investment plan for AI-ready data centres by 2035 signaled a new phase for the conglomerate, positioning it at the intersection of renewable energy and digital infrastructure. The outcome of the ongoing U.S. criminal and civil proceedings will likely shape assessments of Adani's legacy in the years ahead.