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

• Vinod Shantilal Adani is the sixth richest Indian on the rich list released by IIFL Wealth and Hurun.
  
• He is the elder brother of India’s richest Indian Gautam Adani.
  
• Vinod Shantilal Adani and family are also the wealthiest NRIs amongst the total of 94 NRIs in the rich list.
  
• His younger brother Gautam Adani is the richest man in India, who also ranks number 2 in Hurun’s Global list.

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

A resident of Dubai, he has moved up from the eighth spot to the sixth position in the last one year, according to IIFL Wealth Hurun India Rich List 2022 released today.

“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.

In the last five years, Gautam Adani’s rank in the list went up from eighth position to number one, Vinod Shantilal Adani’s rank moved up from 49th spot in 2018 to the sixth rank this year.

The elder Adani’s net worth increased by 28% or ₹36,969 crore in the last one year. As per the Hurun report, he has created a wealth of over ₹102 crore on a daily basis since 2021.

“From an Indian wealth creation perspective, 2022 will be remembered for Adani’s meteoric rise. Briskly expanding his commodity trading company into a coal–to–port-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.

Together, both the Adani brothers have a total wealth of ₹12,63,400 crore, or nearly 40% of the top ten in the Hurun India Rich List 2022.
The wealthiest NRI
Vinod Shantilal Adani and family of Adani Group are also the wealthiest NRIs in the list. The list has a total of 94 NRIs amongst the 1,103 Indians — each of whom hold a wealth of ₹1,000 crore or more.

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

Also known as Vinodbhai, he resides in Dubai and manages trading businesses in Singapore and Jakarta.

Vinodbhai started his journey by setting up power looms in the name of V R Textile, in Bhiwandi, Mumbai in 1976. He then introduced new commodities to the portfolio and expanded it in the international market by opening an office in Singapore.

Vinodbhai moved to Singapore to operate the trading and later on he settled in Dubai in 1994 as the business expanded across the Middle East.

In Dubai, he started trading in sugar, oil, aluminum, copper and iron scrap as well, in which he buys tons of the trading product from producing countries and sells it to countries in need.

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