Meet Indian billionaire, Gautam Adani's right-hand, Dr. Malay Mahadevia, who runs a Rs. 20,852 crore company and draws a salary of Rs. 10.7 crore. Here's everything you need to know about him!
Gautam Adani is the founder and chairman of one of India’s biggest conglomerates, Adani Group. The billionaire businessman founded his multi-billion conglomerate almost 35 years ago, on July 20, 1988. Although in the beginning, Gautam Adani started it as a trading company, he soon expanded his company into exporting and importing multiple commodities. Fast-forward to 2024 and Gautam Adani’s conglomerate, Adani Group has surpassed Tata Group, and its eight companies have a combined value of Rs. 9.9 trillion.
Gautam Adani is the second-richest person in India, with an estimated net worth of Rs. 6,75,000 crores. The billionaire business tycoon is behind the managing director of Reliance Industries Limited, Mukesh Ambani. Although Adani and Ambani are quite different in terms of their approach and vision when it comes to business, they share one common trait. Both billionaires respect the valuable bonds or relationships they have in their lives.
Over the decades, we have seen Mukesh Ambani involve his childhood friends and relatives in his conglomerate. Just like him, Gautam Adani is also renowned for bringing his family, relatives, and close friends into his business. At a time when brothers are fighting over property and business, Gautam Adani trusts his friends and bestows them with major responsibilities in his business. Today, we are going to talk about one such friend of Gautam Adani, who now leads a multi-billion company and is also considered as ‘Gautam Adani’s right-hand’. So, without further ado, let’s get started.
According to a report in the Financial Express, Dr. Malay Mahadevia is the Whole Time Director of Adani Ports & SEZ (APSEZ). He is also the CEO of Adani Airport Holdings Limited (AAHL). Gautam Adani's childhood friend, Dr. Malay Mahadevia repaid the former’s trust in him in the best way possible. The revenue of Malay Mahadevia-led firm, APSEZ in the Financial Year 2023 was at the mammoth sum of Rs. 20,852 crore.
Not only this, under Dr. Malay Mahadevia’s leadership, Adani Enterprises and housing AAHL registered a total income of Rs. 1.38 lakh crore for FY 2023. Courtesy of his impressive work at Adani Group, Dr. Malay Mahadevia was bestowed with the award, 'Outstanding Manager of the Year' back in 2002 by the Ahmedabad Management Association. Gujarat University also conferred Malay Mahadevia with PhD in the field of ‘Coastal Ecology around Mundra area’.
The way Dr. Malay Mahadevia has taken multiple ventures of Adani Group to unprecedented heights, he was elected as a member of a series of recognised bodies. Some of the major bodies that have selected him as their member include the Gujarat Chamber of Commerce & Industry (GCCI), Centre for Engineering & Technology (CEPT), The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industry (CII) and Board of Advisors for Maritime studies in Gujarat University.
Everyone is aware of Dr. Malay Mahadevia’s contribution to his childhood friend, Gautam Adani’s Adani Group. Whether we talk about cracking important deals or finding a way through complex situations, Malay Mahadevia has impressed the entire business world with his understanding of the business and market. However, not everyone is aware of the fact that before joining Adani Group, he was in service as an Assistant Professor at Government Dental College, Ahmedabad.
Talking about Dr. Malay Mahadevia’s educational background, he has a Bachelor’s and Master’s Degree in Dental Surgery from the prestigious University of Bombay. Not only this, he had also studied at Gujarat University and completed his Ph.D. in Coastal Ecology from there. After working for some years as a dental surgeon, Malay Mahadevia entered into the world of business, when his close friend, Gautam Adani, approached him.
It’s incredible how Malay Mahadevia has been leading Adani Ports & SEZ (APSEZ), despite having no educational background related to the business. It’s fair to say that Malay Mahadevia serves as a perfect example for people, who stop themselves from trying something new just because they don’t hold any degree related to that work. As of now, Malay Mahadevia is considered as India’s second richest person, Gautam Adani’s right hand. As per multiple reports, if things continue to rise at this pace, we could see Malaya Mahadevia handling even bigger responsibilities at Adani Group than now.
What are your thoughts on Dr. Malay Mahadevia’s impact on Gautam Adani’s conglomerate, Adani Group? Let us know.
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