Anil Aggarwal, the founder and chairman of Vedanta Resources Limited was born on January 24, 1954 in Patna, Bihar. Fast forward to 2023, he is now the richest person of Bihar and one of the richest people in the country.
Starting from his first copper rod plant in Mumbai, Agarwal transformed his small scrap metal business into the globally diversified natural resource company, Vedanta Resources, headquartered in London. In this article, let’s take a look at Agarwal’s business journey, net worth, family, businesses, and more.
Rise to the top
During the mid-1970s, Agarwal started his career trading in scrap metal. He expanded his business by acquiring Shamsher Sterling Corporation in 1976. Ten years later, he founded Sterlite Industries, which became the first private sector company in India to establish a copper smelter and refinery in 1993.
Agarwal’s mining endeavors began a few years later when he acquired a 51% stake in Bharat Aluminium Company (BALCO) and a majority share (almost 65%) in the state-run HZL (Hindustan Zinc Limited).
In 2003, Agarwal established Vedanta Resources in London to access global capital. The company is now a diversified natural resources conglomerate. It has a workforce of over 65,000 employees and contractors operating primarily in India, Africa, Ireland, and Australia.
Aggarwal’s net worth in 2023 is estimated at $2.01 billion according to Forbes. He has accumulated his wealth mainly through his ownership of Vedanta Resources. Besides, he also has a stake in Anglo American, a mining company based in the UK.
Anil Agarwal is married to Kiran Agarwal and the couple has two children, son Agnivesh, who serves as the chairman of Hindustan Zinc and Priya Agarwal who is a PR professional.
As per Business Standard, Agarwal has no plans to retire anytime soon and has ruled out someone from his family succeeding him.
In addition to his business ventures, Aggarwal is known for his philanthropic activities. He has donated to various causes in India, including education and healthcare. He has also established the Vedanta Foundation, which supports initiatives in education, healthcare, and skill development.