Gautam Adani’s brother Vinod is richest NRI with ₹1.69 lakh crore

Indian billionaire Gautam Adani’s elder brother and businessman Vinod Shantilal Adani is the wealthiest non-resident Indian (NRI), according to the IIFL Wealth Hurun India Rich List 2022.

“With ₹169,000 crore, Vinod Shantilal Adani & family of Adani Group is the wealthiest NRI. With a fortune of ₹70,000 crore, Jay Chaudhry is the wealthiest NRI living in the US,” IIFL Wealth and Hurun India said.

The wealth of Vinod increased by 28% or ₹37,400 crore in the last year and he moved up two ranks to claim the sixth position in the ‘Top 10 Wealthiest Individuals list’.

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In the last five years, according to the list, Vinod’s wealth has increased by 850% or ₹1,51,200 crore. Residing in Dubai, Adani manages trading businesses in Dubai, Singapore and Jakarta.

“When compared over five years, some of the billionaires have scaled up significantly and surged ahead as their companies created wealth at an unprecedented speed,” Hurun India said.

Gautam Adani, founder and chairman of Adani Group, and his brother are the most obvious, as they moved up in ranking. Gautam moved up from the eighth rank in 2018 to the number one spot when his wealth increased 15.4 times, while his brother Vinod moved up from the 49th spot to the sixth ranking, it added.

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There are 94 NRIs in the IIFL Wealth Hurun Indian Rich List 2022, and 88% of them are self-made. With 48 individuals, the USA is the most preferred country for NRIs, followed by the UAE and the UK.

Gautam’s wealth more than doubled in the last one year as he added a whopping ₹588,500 crore at ₹1,612 crore per day, according to the list.

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“Fuelled by acquisitions and organic growth, Gautam Adani (60), has moved into the top spot and is the richest man in India with a wealth of ₹10,94,400 crore. His wealth has more than doubled (116%) in the last one year and in absolute terms, he added ₹5,88,500 crore,” IIFL Wealth and Hurun India said.