India’s 100 Richest
The biggest asset of Gautam Adani’s conglomerate is Adani Ports & SEZ,
run day-to-day by his 30-year-old son Karan (above). It is the country’s
largest and fastest-growing private port developer and operator, with
10 ports along the Indian coastline. But shares of Adani’s companies
rose on other news: Work on his long-delayed, $16 billion Australian coal
mining project would commence in October, boosting his fortune by 75%
from a year ago. No stranger to controversy, Adani the elder recently
faced an allegation that he profited from the government tweaking rules
on special economic zones mainly to benefit his group, which is also in
energy. Adani, who denied the allegation, sent a defamation notice to
the journal that reported the allegation. The journal pulled down the
online version of the article, and its editor resigned.KARAN ADANI: SAFE HARBOR