Gautam Adani, the school drop-out turned billionaire who rose to become Asia’s richest man, faces possibly the biggest challenge of his career after a US short seller cast doubts on his business practices, hammering shares in his companies and his reputation.
Adani, whose home state is Gujarat, built his business empire from scratch after starting as a commodities trader. PM Narendra Modi hails from the same state and their relationship has come under intense scrutiny by Modi’s opponents for years.
Adani’s business empire grew rapidly and his wealth ballooned. His interests span ports, power generation, airports, mining, edible oils, renewable power and more recently media and cement.
