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June 10, 2013

College Dropouts Still Successful Entrepreneurs - Gautam Adani

Gautam Adani


The man behind the success of prestigious “Adani” group; Gautam Adani has once again proved that hard work, determination and a sprinkle of luck is all that , it takes to rise among the richest. Currently, Gautam Adani is the chairman of a leading Trading and Export company, The Adani group.  He is the first person from Ahmadabad to accumulate a net worth of $9.3 billion, making his city shine bright on the world map.


Gautam Adani was born on June 24, 1962 in a middle-class Gujrati Jain family to Shrimati Shantiben and Shri Shantilal, in Seth Ni Pol area located in Ratanpol in Ahmadabad. With the turn of events, the family moved to the town of Tharad, northern Gujarat in search of livelihood. Also, Gautam Adani was suffering from an acute health problem, which seemed incurable at that time. Against all odds, Gautam Adani was determined to drive the family out of the financial crunch.


Early Education:


Gautam Adani attended Seth C.N. Vidyalaya School in Ahmadabad. As per the teachers, Gautam Adani was a really bright student with an ability to think out of the box.  Later, he continued his studies at the Gujarat University. He dropped out of college during the second year of his Bachelor’s degree in Commerce.


Turning Point:


After dropping out of college at the age of 18, Gautam Adani moved to Mumbai with a few hundred rupees in his pocket. He chose not join his father’s textile unit and instead started working as a diamond sorter at Mahindra Brothers. With all the experience and wealth that he accumulated working for Mahindra Brothers for nearly two years, he set up his own diamond brokerage business in Mumbai. His initiative was a huge success and he made his first million at a young age of 20.


Success Story:


He became really famous, as in 1980’s a million rupees was not a small amount. This success story caught the eye of his elder brother and self-made entrepreneur, Mahasukh Adani. His brother had recently bought a new plastic factory, which he wanted Gautam to run. Gautam travelled back to his hometown and as per the orders, he started exercising the reigns of the factory.


The factory dealt with the production of Polyvinyl chloride (PVC) which is a key ingredient for manufacturing plastics. Soon after, Gautam Adani ventured into commodity trading by importing PVC. Working at his brother’s factory, Gautam Adani mastered the skill of commodity trading and also gained valuable work experience.


Later in 1988, he established his very own commodity trading company, “Adani Exports Limited” that dealt with trading of a variety of agricultural as well as power commodities. His firm determination , rigorous hard work and talent not only made his family sail smoothly through the financial crisis; but also led to the rise of one of the richest and biggest empires of  India . Later, with the economic liberation in 1991, Adani group saw a rapid growth in business and generated huge profits, which provided for the further expansion of Adani Exports. Now, he had more capital to invest in business, which directly led to better profits and exponential growth of the Adani group.


In 1993, the Government of Gujarat, decided to privatize the Mundra port, therefore, private companies were invited to run the port. Later in 1995, the contract was given to the Adani group. Even today, Mundra port is the largest Private sector port in India. The port has a capacity to efficiently handle a cargo of 80 million tons per annum.


Thus, the Adani Group began to expand, Adani Power limited (APL) was started under the flagship of Adani Group, to promote a thermal power plant, with a capacity to run 4620 Megawatts of Electricity, making it the largest private thermal producer in the country.


Presently, Adani Exports Limited is known as the Adani Enterprises Ltd.  and ranks at #334 among the top companies in Fortune 500 India, as per the list in 2011. With use of renewable resources for energy being the need of the hour, Adani Power set up a Mega Solar plant with a capacity of 40MW in Kutch, in addition to the 4*330MW and 5*660 MW APL maneuvers at Mundra, 2*660 Megawatt plant at Kawai in Rajasthan and another 5*660 MW at Tirora district of Maharashtra. Adani Power is being credited for setting up the India’s largest solar power plants in India.


Personal Life


Gautam Adani is presently married to Dr Priti Adani, who holds a Bachelor degree in Dental Surgery. She is also the Chairperson of the Adani Foundation which is a CSR arm of the group. Gautam Adani is blessed with two sons. Though, Gautam Adani did not complete his education due to unfavorable circumstances, he certainly does not rule out the importance of good education.  The fact is well evident from the fact that Gautam Adani is making a conscious effort to educate his sons in one of the top universities of the World.


Social Responsibilities of Adani Group


Corporate Social Responsibilities (CSR) group was set up by the Adani group in 1996 to work towards a better India. The group was set up to shoulder the responsibilities of uplifting the rural India, by facilitating with basic amenities such as education, electricity etc. Also, for long the Adani Group has been working with rural communities around the port of Mundra, thus team is determined to address and work on issues, which can enable holistic development.


The foundation participates in active initiatives for education, provision of medical aid, rural development in terms of infrastructure and charitable initiative.


At Present                                                                    


Gautam Adani is one of India’s top 10 richest people with a net worth of about $10 billion. He is the chairman of Adani Group. Presently, he owns two jet setters, Beechcraft and Hawker. Recently, he purchased an Augusta Westland AW 139, which is a 15 seater helicopter. The helicopter was bought in order to transport him from his house to the Ahmadabad airport, where his jet setters are parked. Besides, he has a garage full of top of the line luxury cars including BMW 7 series, stretch limousine and a smoking red Safari.


 

Tags : college dropout success stories, Gautam adani, adani enterprise ltd., Adani Foundation

About Kanika

I have been writing for almost 3 years now for various clients