Gautam Adani's Brother, Vinod Shantilal Adani Becomes Sixth Richest Indian And Richest NRI?

While Gautam Adani has become the second richest person in the world, his elder brother Vinod Shantilal Adani is now the sixth richest person in India, according to IIFL Wealth Hurun India Rich List 2022.

Vinod Shantilal Adani is now the sixth richest Indian

Vinod Adani, who is based in Dubai, has moved up from the eighth spot to the sixth position in the last one year, with a fortune of Rs 1.69 lakh crores. Incidentally, he is now also the wealthiest NRI (non-resident Indian).

Arabian Business

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

Who is Vinod Shantilal Adani?

Vinod Shantilal Adani, also known as Vinodbhai, began his business career in 1976 with the establishment of V R Textile in Bhiwandi, a city in Maharashtra's Thane district. He later expanded his business in Singapore. In 1994, he settled in Dubai to expand business in the Middle East.

Today, he is a leading executive at the billion-dollar Indian conglomerate, the Adani Group, which is chaired by his brother, Gautam Adani. Vinod oversees some of the firm¡¯s trading businesses in Singapore and Jakarta.

Arabian Business

Vinod Adani has reported an increase in his wealth by 28 percent in the last year, which in monetary terms would mean Rs 36,969 crores. So, as per the report¡¯s analysis, he has created a wealth of over Rs 102 crore per day.

If the wealth of both Adani brothers is combined, it stands at a whopping Rs 12,63,400 crores! That is nearly 40% of the top ten in the Hurun India Rich List.

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

Hurun India Rich List 2022

To nobody's surprise, Gautam Adani, chairman of the Adani Group, topped the IIFL Wealth Hurun India Rich List 2022. He was followed by Reliance Industries' Mukesh Ambani, who lost the top ranking despite his wealth increasing by 11 percent in the last year.

Mukesh Ambani's wealth is pegged at Rs 7.94 lakh crore and has increased by 115 percent in the last five years, according to IIFL Wealth.

Cyrus S Poonawalla of Serum Institute of India secured the third position on the list, with his wealth increasing by Rs 41,700 crore in the last one year.

Adani has moved into the top spot and is the richest man in India with a wealth of Rs 10.94 lakh crore.

Agencies

"From an Indian wealth creation perspective, 2022 will be remembered for Adani¡¯s meteoric rise. Briskly expanding his commodity trading company into a coal¨Cto¨Cport-to-energy conglomerate, he 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 chief researcher, Hurun India.

For more trending stories, follow us on Telegram.