Gautam Adani: From Rise to Controversy

Gautam Adani, a first-generation billionaire from India, is embroiled in a $265 million bribery scandal in New York. Despite his meteoric rise in business, controversies have persisted both nationally and internationally. He faces criminal penalties over fraud accusations, with his businesses under scrutiny amidst allegations of favoritism.

Indian billionaire Gautam Adani is facing serious legal troubles in New York, indicted in a $265 million bribery scheme. The first-generation tycoon has experienced a dramatic rise, marked by controversies both in India and abroad.

Adani, Asia's second-richest person, narrowly avoided death in the 2008 Mumbai terror attacks, is now confronted with a U.S. arrest warrant and potential criminal penalties. His diverse business empire, spanning power, ports, sugar, and soybeans, suffered a $150 billion market value loss last year following allegations by Hindenburg Research of improper use of offshore tax havens. The Adani Group, although recovering some losses, currently maintains a $141 billion valuation and refutes all accusations.

Despite the setbacks, Adani briefly held the title of the world's wealthiest individual after surpassing Elon Musk. Currently, he ranks as the 25th richest person with a reported net worth of $57.6 billion according to Forbes. Amidst ongoing scrutiny of his coal, power projects, and other deals in countries like Australia and Bangladesh, Adani remains central to political debates in India, with allegations of receiving government favoritism.

(With inputs from agencies.)