He has accumulated his wealth mainly through his ownership of Vedanta Resources.
Anil Agarwal, founder and chairman of the Vedanta Group, which he established in 1976. Before listing on the London Stock Exchange in 2003, the company first produced cables. On the other hand, Agarwal made the company private in October 2019.
Vedanta Resources Ltd. is prepared to pay suppliers in Zambia for $250 million in arrears before recovering ownership of the copper mines that the government of that country took over four years ago.
Anil Agarwal hails from Patna, Bihar. He was born in 1954 into a Marwari family. More than 70 per cent of the company is owned by his family. The net worth of his family exceeds Rs 32000 crore. Agarwal never forgets to include Bihar in his success story. He recently claimed that the state dish Litti Chokha is his favourite.
Anil Agarwal's father once owned a tiny company that produced aluminum conductors. Anil attended Miller High School in Patna. He did not attend college; instead, he entered his father's business. He was just 19 when he departed for Mumbai. He began to see success in the middle of the 1970s.
He would collect scrap metal from cable companies and sell it in Mumbai, earning a big profit. He purchased Shamsher Sterling Corporation, a former copper manufacturer, in 1976. For ten years, he managed both of his businesses. He constructed a plant in 1986 to produce cables packed with jelly. He began producing the metals required for his plant rather than purchasing them in order to reduce the cost of inputs.
His Sterlite was the first private enterprise to smelt copper, having done so by 1993. Later on, he bought Madras Aluminium. After paying Rs 551 crore for a 51 percent share in BALCO in 2001, he rose to prominence in the sector. He bought Hindustan Zinc Limited, a government-run company, the next year. He owns a sixty-five percent share.
The largest private oil-producing company, Cairn India, was also purchased by him. He bought a number of businesses across multiple nations.
Anil Agarwal has reportedly pledged to give away 75 percent of his wealth to charity.
His personal net worth, according to Forbes, is Rs 16,400 crore.
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