List of Wealthy Indians who went from Riches to Rags - Today we take a look at Seven Riches to Rags Indian billionaires who somehow managed to squander away their fortunes which otherwise would have taken lifetimes (Source: tradebrains.in)

Uday Kotak is an Indian Billionaire Businessman and the executive vice chairman & managing director of Kotak Mahindra Bank. Today, we take a look at the Uday Kotak's Success Story, the biography of the Richest Banker in India.

In 1995 Kotak entered the distribution and brokerage business. He kept doing this and in a few years, Kotak Mahindra was now involved in investment banking, bill discounting, stockbroking, life insurance, car finance, and mutual funds.  In 2003 Kotak Mahindra Finance Ltd. received a banking license from the Reserve Bank of India (RBI). Kotak Mahindra was the only non-banking finance company to receive a banking license from the RBI in 2003.   By 2014, what Uday Kotak had started off in a 300 square feet office was already the 2nd largest scheduled commercial bank in India by market capitalization with more than 1270 branches.

What is even more astonishing is that despite the banking sector receiving one of the worst PR’s Kotak Mahindra has managed to survive with reasonable safety through the multiple crises the banking sector has fallen into.  Uday Kotak after so many years still holds the MD and CEO position for Kotak Mahindra. His story could easily be one of the greatest self-made success stories of our country. He is today worth $14.8 billion! Let us know what you think of Uday Kotak’s success story in the comments section below. 

Tags: How Did Uday Kotak Start His Business?, Success Story Of Kotak Mahindra, Uday Kotak And Anand Mahindra, Uday Kotak Biography, Uday Kotak Education Qualification, Uday Kotak Journey, Uday Kotak Net Worth, Uday Kotak Story, Uday Kotak's Journey, Why Kotak Mahindra Bank Is Successful?

Source: tradebrains.in

In this episode, we discussed the Gautam Adani Success Story and how he became the second richest person in India. We'll be looking into Gautam Adani Biography to understand how he built Adani Group into a $100 Billion market cap group. 

Investors today feel that they are missing out on something big if they have not included the stocks of the Adani group in their portfolio. But today we look at the man behind one of the biggest wealth creators in the country i.e. Gautam Adani's success story to become the second richest man in India.

Part1: Early Life of Gautam Adani: We have gone through many success stories in the past. But what makes Adani’s journey truly extraordinary are his humble middle-class beginnings. Gautam Adani was born into a Gujarati-Jain family on 24 June 1962. Adani had 7 siblings while his father was a textile merchant.   Adani was set to follow in the same footsteps and spend most of his childhood accordingly. He enrolled for BCom at Gujarat University. While being bombarded with mundane accounts and economics he realized that academics were not for him.

Part 2: The 20-year-old millionaire:  As a teen who just dropped out of college Adani moved to Mumbai with just Rs. 100 in his pocket. As luck favored him he secured a job with diamond brokers at Mumbai’s jewelry market Zaveri Bazaar.  But Adani did not just simply work there, he used the 2-3 year period to learn the ins and outs of the business. He used this to set up his own diamond brokerage - his first business. Adani was already a millionaire by the age of 20.  It was just then that Adani seized his next opportunity. His elder brother Mahasukh Adani had acquired a plastic factory and called Gautam Adani to Gujarat to help run it.  Adani moved back to Gujarat to manage the business. It was here that Adani began slowly entering the big leagues of Import and export in 1985. Adani decided to import polyvinyl chloride or PVC to India.  By 1988 Adani founded Adani Exports Ltd. which is today the holding company for the Adani Conglomerate.

Part 3: Gautam Adani's Success Story: Road to becoming a Billionaire   1991 marks the year of liberalization for the Indian economy. The company began to grow in leaps and bounds as Adani had now also entered the textiles and metals.   In 1993 Adani entered into Ports and SEZ, the business the conglomerate is well known for today. He did this by securing a contract from the Government of Gujarat to operate the Mundra Port.  Adani turned the port into India’s largest privately operated port. By 1995 the Mundra port was dealing in over 200 million tonnes of load every year.   He also went onto build a 2 KM airstrip in his port. This made the Mundra port the only one with its own airstrip in India. This would further aid the transportation of high-value but low-volume goods like pharmaceuticals and diamonds.   In 1996, he set up Adani Power Ltd. and by 2006, Adani had also entered the power generation business.

Part 4: Surviving Kidnappings and Prospering COVID  One of the darkest moments of Adani’s life was when he was kidnapped at gunpoint and held for ransom two decades ago. In 2008, Adani once again found himself in the midst of the 26/11 terror attacks at the Taj. Adani managed to survive both and went onto thrive in the business world. Adani further diversified his business into oil and gas exploration and logistics. The Adani group also became the largest private power producer in the country.  Despite taking on $17 billion worth of debt, the company has still been able to raise funds from foreign banks for Adani green.   Amidst COVID, Adani’s fortunes have grown multifold. This is thanks to the surge in share prices of his ports, gas, and mining companies. 

Source: tradebrains.in