The journey from a businessman to the most sought-after business tycoons in the country is a path that several aspire to achieve. Mukesh Ambani and Gautam Adani have left no stone unturned to increase their wealth and power by leaps and bounds. Mukesh Ambani, the chairman of Reliance Industries Limited (RIL), became the most significant organized player in the country after he re-channelled his retail business after Jio became a massive success. On the other hand, Gautam Adani stepped out of his well-established coal business to move into fossil fuels and further cement his company's success.
India's Richest Business Tycoon: Mukesh Ambani
Mukesh Ambani addressed his shareholders in the 44th Annual General meeting and said that RIL was on a "hyper-growth trajectory". Further, he mentioned that the company would grow by three times in the next five years and offer over 1 million jobs to the public. The business tycoon's financial fortunes shone the most in the last decade.
In 2010, Ambani's wealth accounted for US$30 billion, which sprang to US$ 92 billion in 2021. To explain in relative terms, Mukesh Ambani's net worth could fetch him more than 1.28 billion barrels of crude oil and 50.8 million troy ounces of gold. Furthermore, his net worth is equivalent to 0.434 per cent of the total gross domestic product (GDP) of the United States of America.
Reliance Has Ventured Into Every Possible Sector
There is practically no sector that Reliance has not ventured into. The umbrella term of Reliance Industries Limited comprises Reliance Capital, Reliance Infrastructure, Reliance Communications Limited, Reliance Fashion, Reliance Entertainment, Reliance Power and Kokilaben Dhirubhai Ambani Hospital. Reliance Infrastructure Ltd (RInfra) is amongst the most significant infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors within the infrastructure space, i.e. Roads, Metro Rail and Cement.
Reliance Communications is the most successful network of the current times and has a user base of 118 million, including 2.8 million overseas customers. Reliance Communications' corporate clientele consists of over 40,000 Indian and multinational corporations, including small and medium enterprises and nearly 300 of the finest enterprise and carrier companies globally. Reliance Communications has India's most comprehensive network coverage, encompassing 25,000 cities and towns and over 400,000 villages and all major railway routes and highways—touching 90 per cent of the country's population. Reliance Retail is one of the largest retail brands constituting Reliance Fresh, Reliance Market, Reliance Wellness, Reliance Time Out, Reliance Autozone and several others.
Gautam Adani: One Of The Most Promising Business Tycoons
The Ambani prodigy occupies the tenth rank in the world's richest list currently. He has secured the status of richest Indian since 2008 in the Forbes' India's Richest list. The other face of business in India, Gautam Shantilal Adani, is nowhere behind. Adani sprang up in the news suddenly after he ventured into the fossil fuel industry to cement the prospects of his mammoth business empire. Once 18-years-old trader boy flipped the coin of his destiny and now sits as the king of the business empire that owns and operates India's largest private port at Mundra in Gujarat.
In the last 25 years, Gautam Adani has scaled the peaks of business in India and abroad and by no way seems to lessen his flight. According to Hurun Rich List, Adani is the fifth richest person in India, with a net worth of ₹94,500 crores. One cannot learn the art of running a successful business in school, and Adani proved it after he quit college at the age of 18 and hopped onto a train to the city of dreams, Mumbai, with a few hundred rupees in his pocket. In the last two years, Adani managed to multiply his wealth by almost two-and-a-half times. Adani started as a trader with a capital worth ₹5,00,000 and turned it into a ₹ 4,700 crores empire.
Experts associate Adani's financial success with his political connections. The conglomerate grew even when other infrastructure projects were not, even though it was low on profits. Moreover, the Adani Group became a prominent name only after Narendra Modi took Gujarat in 2001. However, the group announced the capital expenditure worth ₹1,67,000 crores for acquisitions and new businesses. The kinship between Adani and Mr Modi justified that the Adani group won as many as 25 contracts of the 126 projects for fuel stations and piped natural gas across India. In 2013, the Adani Group had 44 projects under their name, which grew up above 92 by 2019.
Adani became famous in the international name when they bagged their biggest deal- a coal project in Australia. The deal, however, attracted a lot of public ire from social activists. A "Stop Adani" campaign by environmentalists disrupted development, with pressure building on lenders to turn off the credit tap. In a 2019 interview with Bloomberg News, Adani said the project's goals were energy security for India and jobs for locals. In September 2020, the Adani Group acquired a majority stake of 74 per cent in the Mumbai Post, the second-busiest port in the country.
On Their Way To Expand Their Empires
Gautam Adani continued to be the second-richest person in India for the third year in a row. His fortune stood at US$ 74.8 billion, only near US$ 17.9 billion lesser than India's most successful business tycoon. Adani is the biggest gainer in both percentage and dollar terms as his wealth nearly tripled during the year.
There is no doubt that Mukesh Ambani and Gautam Adani are the most promising businessmen in the country, and they have already set their foot in almost all sectors, dominating the Indian market. While both the tycoons have had severe opposition, both on the national and international front, they have made their mark and continue to expand their respective business empires.