Anil Agarwal Net Worth in rupees 2024: Founder and Chairman Of Vedanta Group

anil-agarwal-net-worth
anil-agarwal-net-worth

Anil Agarwal is the founder and chairman of Vedanta Resources, a global natural resources conglomerate. Anil Agarwal net worth in rupees around ₹16,000 crore (approximately $2.01 billion) as of October 2023.

Agarwal’s journey to success is an inspiring one. He started out as a scrap metal dealer in the early 1970s, and gradually built his business into a thriving empire. In 1986, he acquired Sterlite Industries, which became the first private sector company in India to set up a copper smelter and refinery.

Over the years, Agarwal has expanded his business interests to include zinc, lead, silver, aluminium, iron ore, power generation, and oil and gas. Vedanta Resources now has operations in over 10 countries around the world.

Agarwal is also a known philanthropist. He has pledged to donate 75% of his family’s wealth to charity. In 1992, he established the Vedanta Foundation, which carries out philanthropic programs and activities in the areas of education, healthcare, and rural development.

In this blog post, we will take a closer look at Anil Agarwal’s net worth in rupees, and how he has built his vast fortune.

Anil Agarwal bio

NameAnil Agarwal
Nick NameThe Copper King
Birth dateFebruary 14, 1954
Birth placePatna, Bihar, India
ParentsSurendra Kumar Agarwal and Sushila Devi Agarwal
NationalityIndian
EducationBachelor of Commerce, Sydenham College of Commerce and Economics
ProfessionEntrepreneur, billionaire
Net worth₹16,000 crore (approximately $2.01 billion)
WebsiteVedanta Resources

Anil Agarwal Net Worth in rupees 2024

As of 2023, Anil Agarwal’s wealth is believed to be around ₹16000 Crore ($2.01 billion), as reported by Forbes. He primarily amassed his riches from owning Vedanta Resources. Additionally, he holds a share in Anglo American, a UK-based mining company.

Vedanta Resources has operations in over 10 countries around the world, and is involved in the mining, refining, and smelting of metals and minerals, as well as oil and gas production.

Agarwal is a known philanthropist, and has pledged to donate 75% of his family’s wealth to charity. In 1992, he established the Vedanta Foundation, which carries out philanthropic programs and activities in the areas of education, healthcare, and rural development.

Anil Agarwal Early Life

Anil Agarwal, also known as the “metal king,” grew up in Patna, Bihar, India, in a Marwadi family. His father, Dwarka Prasad Agarwal, ran a small business making aluminum conductors. Anil went to Miller High School in Patna. Instead of going to college, he chose to work in his father’s business, making aluminum conductors. When he was 19 years old, he left Patna and went to Mumbai (formerly Bombay) to look for job opportunities.

Anil Agarwal’s Education

Anil went to Miller High School in Patna, but he didn’t go to college. Instead, when he was 19, he left Patna to find job opportunities.

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Anil Agarwal Professional Life

In the mid-1970s, Anil Agarwal started a business in scrap metal. He collected scrap from cable companies in different states and sold it in Mumbai. In 1976, he bought a company called Shamsher Sterling Corporation, which made copper products, using a loan from a bank.

He managed both his scrap metal business and this new company for about 10 years. In 1986, he started a factory to make jelly-filled cables and called it Sterlite Industries.

He realized that his business’s profits were unpredictable because they depended on the prices of raw materials like copper and aluminum. To make things more stable, he decided to produce these metals himself instead of buying them.

In 1993, Sterlite Industries became the first private company in India to set up a copper smelter and refinery. In 1995, he bought a company called Madras Aluminium, which had been closed for four years and owned by a government organization. After this, he moved into mining.

The government announced that it would sell some of its companies, and in 2001, Anil Agarwal bought 51% of Bharat Aluminium Company (BALCO) for a large amount of money. In the next year, he acquired most of Hindustan Zinc Limited (HZL), which was a government-run mining company. Both companies were not doing well before he took them over.

To get money from international markets, Anil Agarwal and his team created Vedanta Resources Plc in London in 2003. When it was listed on the London Stock Exchange in 2003, Vedanta Resources Plc became the first Indian company to do so.

Vedanta Resources became the main company for all of Anil Agarwal’s businesses through some changes in the ownership of his group companies.

In 2004, Vedanta Resources Plc raised money by selling bonds and bought Konkola Copper Mines in Zambia, Africa. In 2007, they got control of Sesa Goa Limited, which was India’s biggest iron ore producer for export.

In 2010, the company bought zinc assets in Namibia, Ireland, and South Africa from Anglo American, a big mining company. The next year, they got a controlling stake in Cairn India, which was India’s biggest private company producing oil. In 2012, Sesa Goa and Sterlite Industries merged as part of the Vedanta Group’s plans.

Vedanta Resources, which is based in London, is a big company that deals with many kinds of natural resources like zinc, lead, silver, copper, iron ore, aluminum, power generation, and oil and gas. Most of its assets are in India. Anil Agarwal lives in London.

In October 2017, it was announced that Anil Agarwal’s company, Volcan Holdings Plc, had bought 19% of the mining company Anglo American, making him the biggest shareholder in the company.

According to The Sunday Times Rich List in 2020, his net worth was estimated to be £8.5 billion.

According to Forbes, Vedanta and Foxconn were planning to invest about $20 billion in 2022 to build semiconductor and display plants in the Indian state of Gujarat, with Vedanta having a 60% stake in the venture.

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Anil Agarwal Personal Life

Personal Information:

FieldInformation
Real NameAnil Agarwal
Nick NameAnil
Age68 years old
Height5’6″
Weight65 Kg
ReligionHindu
NationalityIndian
HometownPatna, India
Current CityLondon, England

Professional Information:

FieldInformation
ProfessionChairman of Vedanta Resources
Known ForThe Vedanta Foundation, Sterlite Industries
ZodiacAquarius
Marital StatusMarried
Wife NameKiran Agarwal
ChildrenAgnivesh Agarwal, Priya Agarwal

Educational Background:

FieldInformation
Educational QualificationB.E degree
SchoolMiller High School, Patna, India & Sir Ganesh Dutt Patliputra High School, Bihar
CollegeMalaviya Regional Engineering College

Additional Information:

FieldInformation
HobbiesReading Books, Writing Articles

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Anil Agarwal Parents

His dad, Dwarka Prasad Agarwal, ran a small aluminum conductor business in Patna. His parents, especially his father, were always there for him, providing support.

He recalls that receiving his first bicycle was one of the happiest moments in his life. His father gave it to him, allowing him to travel to school more comfortably instead of walking.

With his family’s backing, he made the bold decision not to attend college and, at the young age of nineteen, he moved to Mumbai. He tried various small businesses to make a living, even though none of them turned out to be profitable.

Nevertheless, he was determined to achieve success and didn’t give up in the face of failure. He sought financial help from several banks, but they all saw the same thing: a young boy from a middle-class family in Bihar who had just completed high school and was considered a high business risk. They all declined to grant him a loan, but in the end, he proved them wrong.

Anil Agarwal Wife

He loved cycling as a child, and it eventually brought him happiness in marriage. His wife, Kiran Gupta, was a family friend and also loved cycling. They got married when he was 21 and she was 16. Despite marrying young, they still enjoy life together and now live in London. In the summer, they sometimes ride bikes in Hyde Park, which is near their home in London Mayfair.

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Anil Agarwal Son

Agnivesh Agarwal is in charge of Hindustan Zinc, and this company makes up 39% of Vedanta Ltd‘s total profit.

Anil Agarwal Daughter

Priya Agarwal Hebbar is the director of Vedanta Resources, and she’s also the person who started animal welfare groups called YODA and TACO.

Anil Agarwal’s Social Media Profiles

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Anil Agarwal Famous Quotes

Anil Agarwal, known for his down-to-earth nature, shares a straightforward recipe for success in life: “be determined and fearless.” He encourages people to have a dream and persevere without giving up.

According to Agarwal, you don’t require excellent English speaking skills or even a college degree to achieve great things; it’s your unwavering commitment to your dreams that truly matters. He’s a living example of the advice he now imparts to the younger generation.

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anil-agarwal-quote

Anil Agarwal Controversies

Environmental and Social Concerns:

  1. In 2004, Vedanta was accused by an Indian Supreme Court committee of dumping arsenic-containing waste near its factory in Tamil Nadu. This led to environmental pollution and harm to the nearby people.
  2. In 2005, another Indian Supreme Court committee accused Vedanta of displacing over a hundred indigenous families in Odisha to mine bauxite. The report noted that Vedanta had used hired individuals to create fear and even violence against residents.
  3. Vedanta’s actions in Odisha were criticized by the British commerce agency. The Church of England’s investment funds sold their shares in protest.
  4. In Zambia, Vedanta faced a lawsuit from 2,000 residents for dumping harmful waste into the Kafue River from its copper mine, causing illness and fish deaths. A local judge called it a lack of corporate responsibility and a tipping point for corporate recklessness.
  5. In 2014, Zambian officials began an audit due to concerns that Vedanta had not paid its proper fees to the government. Additionally, former mine workers were in dispute with Vedanta for severance or disability pay.

Thoothukudi Massacre:

  1. In 2018, there were protests against Vedanta’s plans for a second smelting complex and demands for a shutdown of its Thoothukudi (Tuticorin) smelting plants due to environmental concerns.
  2. On May 22, 2018, the protests turned violent, resulting in 13 deaths and injuries following a police shooting. Section 144 was imposed to control the situation.
  3. The Justice Aruna Jagadeesan Commission found no specific evidence of Sterlite Industries or any other outfit’s involvement in the violence, as claimed by some activist groups and individuals.

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Anil Agarwal Philanthrophy Work

In 1992, Anil Agarwal set up the Vedanta Foundation to handle the charitable work of his group companies. During the financial year 2013–14, these companies and the foundation invested $49.0 million in various projects. These initiatives focused on building hospitals, schools, infrastructure, environmental conservation, and supporting community programs.

These efforts aimed to improve the lives of over 4.1 million people. They collaborated with government and non-government organizations (NGOs). Anil Agarwal drew inspiration from philanthropists like Andrew Carnegie, David Rockefeller, and Bill Gates, who used their wealth for public welfare.

In 2014, Anil Agarwal was ranked second on the Hurun India Philanthropy List for his personal donation of about $360 million. He was also ranked 25th on the Hurun India Rich List with a personal fortune of about $1.7 billion.

In 2015, the Vedanta group partnered with the Ministry for Women and Child Development to inaugurate the first “Nand Ghar,” which is a modern childcare center. They planned to set up a total of 4,000 such centers. As of 2022, they have established 3,700 “Nand Ghars” across 13 Indian states.

Anil Agarwal pledged to donate 75% of his family’s wealth to charity, inspired by Bill Gates. In 2021, the Anil Agarwal Foundation pledged to spend Rs 5,000 crore over five years on social impact programs focusing on nutrition, women and child development, healthcare, animal welfare, and grassroots sports.

In the same year, along with his daughter, Priya Agarwal, he joined the Giving Pledge, a commitment by wealthy individuals and families to give the majority of their wealth to address society’s pressing needs.

Anil Agarwal Achievements & Awards

  • The Economic Times, Business Leader Award – 2012
  • Mining Journal Lifetime Achievement Award – 2009
  • The Ernst & Young Entrepreneur of the Year – 2008
  • The Asian Awards Entrepreneur of the Year – 2016
  • The One Globe Forum (OGF) award in 2018 for creating a strong social impact in the communities where the group operates, including initiatives like Nand Ghar.
  • Dr. Thomas Cangan Leadership Award in 2013 from the Faculty of Management Studies – Institute of Rural Management, Jaipur (FMS-IRM).
  • Asian Achievers Awards – Lifetime Achievement Award in 2019.
  • Asian Business Philanthropy Award in 2021.
  • CIF Global Indian Award in 2022, Toronto, Canada.

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FAQs

Q. What is the net worth of Anil Agarwal?

According to Forbes, Anil agarwal’s net worth in rupees is around INR 16000 Crore ($2.01 Billion Dollars).

Q. Which caste belongs to Agrawal?

Regarding Anil Agarwal’s caste, he is part of the Agarwal community, which is a Hindu trading community. The Agarwals are not classified as Scheduled Caste (SC), Scheduled Tribe (ST), or Other Backward Class (OBC) in the Indian reservation system, but they are generally considered to be in the “General” category.

Q. Who is the owner of Vedanta mining?

Vedanta Limited, a subsidiary of Vedanta Resources, is a major player in the mining industry in India. It’s important to note that the ownership and management of companies can change, so it’s advisable to verify the current status of Vedanta Limited and its ownership.

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