Before these recent issues, Adani was listed by Forbes as the third richest person in the world, with a personal net worth of $120 billion. After losing about half, he made it into the top 20.
A college dropout and first-generation entrepreneur, his Adani founded the company some 35 years ago and has built branches in construction, power generation, port and airport operations, defense manufacturing, and… media companies.
A mustachioed man in a dark suit and red tie is gesturing in front of a microphone. Gautam Adani, 60, is the founder and chairman of Adani Group. Before this market crash, he was the third richest person in the world. (Indranil Mukherjee/AFP via Getty Images)
The Adani Group, a conglomerate of his seven publicly traded companies, owns India’s largest domestic portfolio of renewable energy assets and his seven airports in the country, including Mumbai International Airport. Critics say the billionaire tycoon also benefits from a close relationship with Indian Prime Minister Narendra Modi, who, like Adani, hails from the western Indian state of Gujarat.