While Adani Group chairperson Gautam Adani is climbing new heights, his elder brother is not far behind too. Vinod Adani, a Dubai-based businessman, has become the richest NRI and the sixth richest Indian with a wealth of Rs 1,69,000 crore, said a IIFL Wealth Hurun India Rich list 2022 on Thursday, September 22.
Vinod Shantilal Adani, the elder brother of business mogul and India’s richest person Gautam Adani, manages trading businesses in Dubai, Singapore and Jakarta. “With INR 169,000 crore, Vinod Shantilal Adani & family of Adani Group is the wealthiest NRI,” said the list.
“The wealth of Vinod Adani increased by 28 per cent or INR 37,400 crore in the last year and he moved up two ranks to claim the sixth position in the Top 10 Wealthiest Individuals list. In the last five years, his wealth has increased by 850 per cent or INR 1,51,200 crore,” the Hurun India Rich List 2022 said further.
The list, released on Thursday, also said that Vinod Adani’s wealth increased 9.5 times in the last five years. “While Gautam Adani and family grew their wealth 15.4 times in five years, Vinod Shantilal Adani and family grew their wealth by 9.5 times,” the report said.
As per the report, Vinod Adani’s rank moved up from 49th spot in 2018 to the sixth rank this year and he made as much as Rs 102 crore on a daily basis. He is also the fourth biggest gainer on year-on-year basis in absolute terms.
When the wealth of the two Adani brothers gets totalled, it stands at Rs 12,63,400 crore, which is nearly 40 per cent of the top ten people in the Hurun India Rich List 2022.
Vinod Shantilal Adani started his career in 1976 with power looms in Mumbai’s Bhiwandi. From there, he later expanded his business of commodities portfolio in the international market, opening an office in Singapore. After this, he himself shifted to the country to operate the trading. He then moved to Dubai, his current base, where he started a business of sugar, oil, aluminum, copper and iron scrap.
There are 94 NRIs in the IIFL Wealth Hurun Indian Rich List 2022, while 88 per cent of them are self-made. With 48 individuals, the US is the most preferred country for NRIs, followed by the UAE and the UK, the report said.
The same list showed that Gautam Adani has become the richest person in India, with a wealth of Rs 10,94,400 crore. In the last one year, Adani’s wealth more than doubled at 116 per cent, fuelled by acquisitions and organic growth of his business. In absolute terms, Gautam Adani added Rs 5,88,500 crore to his wealth portfolio in the last one year. In the last five years, the first-generation entrepreneur’s wealth has increased by 1,440 per cent, Hurun India said in its report.
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