The second Adani: Gautam Adani’s older brother is the sixth richest Indian

  • Vinod Shantilal Adanic is the sixth richest Indian on the rich list released by IIFL Wealth and Hurun.
  • He is the older brother of India’s richest Indian Gautam Adani.
  • Vinod Shantilal Adani and family are also the richest NRAs out of a total of 94 NRAs in the rich list.
  • His younger brother Gautam Adani is the richest man in India who is also number 2 in Hurun’s Global list.

There is a second Adani who has made it to the top ten richest Indians released by IIFL Wealth and Hurun on Wednesday. Vinod Shantilal Adani, the elder brother of Gautam Adani, is now the sixth richest Indian with wealth of ₹ 1.69 lakh crore.

He is a resident of Dubai and has risen from eighth to sixth in the past year, according to the IIFL Wealth Hurun India Rich List 2022 released today.

“While Gautam Adani and his family increased their wealth by 15.4 times in five years, Vinod Shantilal Adani and family grew their wealth by 9.5 times,” the report said.

In the past five years, Gautam Adani’s position on the list has risen from eighth to number one, Vinod Shantilal Adani’s position has risen from 49th in 2018 to sixth this year.

The elder Adani’s net worth has increased by 28% or ₹36,969 crore in the past year. According to the Hurun report, he has created a wealth of more than ₹102 crore on a daily basis since 2021.

“From an Indian perspective on wealth creation, 2022 will be remembered for Adani’s meteoric rise. He expanded his commodities trading business into a coal-to-port-to-energy conglomerate and is the only Indian to have built not one, but seven companies with a market cap of one lakh crore,” said Anas Rahman Junaid, MD and principal investigator, Hurun India.

Together, both the Adani brothers have total wealth of ₹12,63,400 crore, or nearly 40% of the top ten in Hurun India Rich List 2022.

The richest NRA

Vinod Shantilal Adani and family of Adani Group are also the richest NRAs in the list. The list has a total of 94 NRIs among the 1,103 Indians – each of whom has assets of ₹1,000 crore or more.

The secret behind Vinod Adani’s meteoric rise is also the value growth of the companies of the Adani Group.

Also known as Vinodbhai, he lives in Dubai and manages trading companies in Singapore and Jakarta.

Vinodbhai started his journey by setting up
power looms on behalf of VR Textile, in Bhiwandi, Mumbai in 1976. He then introduced new raw materials to the portfolio and expanded it into the international market by opening an office in Singapore.

Vinodbhai moved to Singapore to manage the trade and later settled in Dubai in 1994 as the company expanded into the Middle East.

In Dubai, he also started trading sugar, oil, aluminum, copper and iron scrap, buying tons of the commodity from producing countries and reselling it to countries in need.

Gautam Adani, Mukesh Ambani account for 59% of the wealth of the top 10 billionaires in India

Non-profit organizations that want to be on the list are not allowed to undergo ongoing IT examination: SEBI

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