Anil Agarwal is an Indian businessman, philanthropist, and founder and chairman of Vedanta Resources Limited. He is professionally known as the “King of Metal.”
Wiki/Biography
Anil Agarwal was born in 1954 in Patna, Bihar, India (age 69 in 2023). Anil received his education from Miller High School, Patna. At 19, after school, instead of pursuing a degree, he moved to Mumbai to work for his father and explore his career options.
young anil agarwal
appearance
Height (approximately): 5′8″
Hair color: black (bald)
Eye color: dark brown
family
Parents and siblings
Anil Agarwal’s father Dwarka Prasad Agarwal (late) was in the aluminum conductor business. Anil Agarwal has two brothers, Pravin Agarwal, who works closely with the Vedanta Group, and Praveen Agarwal, who holds the position of chairman of Cairn India (also associated with the Vedanta Group) Navin Agarwal.
Anil Agarwal’s brother Naveen Agarwal
Anil Agarwal’s brother Praveen Agarwal
wife and children
Anil Agarwal’s wife Kiran Agarwal is a writer, poet and entrepreneur. She is the founder of Woka Creations and serves as the Chairman of Hindustan Zinc Limited. The couple has two children, a son named Agniwesh and a daughter named Priya.
Anil Agarwal and his wife Kiran Agarwal
Priya Agarwal, daughter of Anil Agarwal
Agnevesh Agarwal, son of Anil Agarwal
Signature/Autograph
Anil Agarwal’s signature
Profession
early business
Anil Agarwal started into the scrap metal trade in the mid-1970s, collecting materials from cable companies in different states and selling them in Mumbai. In 1976, Anil Agarwal, who began to be known as the “King of Metals,” used a bank loan to acquire Shamsher Sterling Corporation, a company that produced enameled copper and other items. In 1986, he opened a factory to produce jelly-filled cables and named it Sterlite Industries. After considering the cost of raw materials such as copper and aluminum, he recognized the opportunity for volatility associated with profitability and chose to establish control by producing these metals himself rather than sourcing them. By 1993, Sterlite Industries achieved a milestone by becoming the first private company in India to set up a copper smelter and refinery. In 1995, the company acquired Madras Aluminum, which was previously a non-operating entity under the Board of Industrial and Financial Reconstruction (BIFR), for a period of four years. In 2001, Anil acquired a 51% stake in the state-owned company Bharat Aluminum Corporation (BALCO) for Rs 551.5 billion. The following year, he acquired a controlling stake (about 65%) in state-run Hindustan Zinc Ltd (HZL).
Vedanta Group
Vedanta Resources, headquartered in London, is a diversified global conglomerate in the natural resources sector. It has interests in a variety of resources including zinc, lead, silver, copper, iron ore, aluminum, power generation, oil and gas. Anil Agarwal lives in London, although a large number of his assets are mainly located in India. In 2003, Anil Agarwal and his team established Vedanta Resources Plc in London as a means of accessing international capital markets. On December 10, 2003, Vedanta Resources Plc was listed on the London Stock Exchange for the first time, becoming the first Indian company to be listed on the London Stock Exchange. In 2004, Vedanta Resources Plc launched a global bond offering and acquired Konkola Copper Mines in Zambia, Africa. In 2007, the company acquired a controlling stake in Sesa Goa Limited, India’s largest iron ore producer and exporter. In 2010, Vedanta Resources purchased a portfolio of zinc assets located in Namibia, Ireland and South Africa from South African mining company Anglo American. In 2011, Vedanta Resources acquired a controlling stake in Cairn India, India’s leading private oil production company. Sesa Goa and Sterlite Industries announced their merger in 2012 as part of Vedanta Group’s consolidation strategy. In October 2017, it was reported that Anil Agarwal’s Volcan Holdings Plc acquired 19% of the shares of the mining company Anglo American and became the company’s largest shareholder.
charity
Anil Agarwal established the Vedanta Foundation in 1992 as a platform to oversee the philanthropy of the group companies. In the financial year 2013-14, Vedanta Group of Companies and Vedanta Foundation allocated a total of $49 million to build hospitals, schools and infrastructure, as well as environmental protection and support community initiatives, improving the well-being of more than 4.1 million individuals. These initiatives are implemented in partnership with government agencies and non-governmental organizations (NGOs). Anil Agarwal’s philanthropic endeavors focus on child welfare, women’s empowerment and education. He was ranked second in the Hurun India Charity List 2014 for his contribution. 17.96 billion rupees (approximately US$360 million). In 2015, the Vedanta Group opened the first “Nand Ghar” or modern Anganwadi center in partnership with the Ministry of Women and Child Development, marking the beginning of plans to establish 4,000 such centres.
Anil Agarwal stands in front of Nand Ghar (Anganwadi), an initiative of Vedanta Group
Inspired by Bill Gates’ philanthropy, Anil Agarwal has pledged to donate 75% of his family’s wealth to charity. In 2021, Anil Agarwal Foundation has committed to invest Rs. Rs 5,000 crore over five years for projects aimed at creating social impact, focusing on areas such as nutrition, women and child development, healthcare, animal welfare and grassroots sports.
dispute
Undue favor case
In April 2023, the Supreme Court upheld a 2010 ruling of the Odisha High Court setting aside the state government’s decision to acquire around 6,000 acres of land for a university, citing “undue favoritism” to the Vedanta Group. The Odisha High Court’s 2010 ruling invalidated the land acquisition process initiated by the Odisha government and directed Vedanta (then known as Sterlite Foundation) to return the acquired land to its original owners. The proposed university site, located near Puri, wildlife sanctuaries and rivers, was established in collaboration with the Odisha government through a memorandum of understanding signed in 2006. The court criticized the state government for favoring the Vedanta Group, claiming that the acquisition process and the proposed benefits were the result of “favoritism” and violated Article 14 (equality before law and equal protection of all persons before the law) of the Indian Constitution. Anil Agarwal Foundation (formerly known as Vedanta Foundation) was fined Rs 5 lakh, which must be paid within six weeks. The Supreme Court noted that the initiation of land acquisition proceedings, including land selection, was driven by Vedanta (later renamed Anil Agarwal Foundation) and not the state government. The court said there was a lack of consideration of environmental factors and the river flowing through the acquired land. It highlights concerns about the impact of the proposed university on nearby wildlife refuges, ecosystems and habitats.
Tutukudi massacre
The tragic event known as the Tuthukudi Massacre occurred on May 22, 2018 in Tuthukudi (also known as Tuticorin) in the Indian state of Tamil Nadu. Police opened fire on demonstrators during peaceful protests against the expansion of a copper smelter owned by Vedanta Resources’ Sterlite Copper. This resulted in the death of 13 people and injuries to many others. Protesters want the Sterlite copper plant closed because they fear it pollutes the environment and makes nearby residents sick. The plant has been accused of polluting the air, water and soil with harmful substances, posing serious health risks to nearby residents. Anil Agarwal-led Vedanta Resources acquired Sterlite Industries in 2003, which includes the Sterlite Copper plant. The plant has long grappled with environmental and regulatory challenges, and protests against its expansion had been ongoing for several years before the tragedy. The Thoothukudi massacre has drawn significant attention to the conduct of Vedanta Resources and its subsidiary Sterlite Copper. This sparked discussions about corporate responsibility, environmental practices and the responsibilities of businesses in ensuring the well-being of local communities. The incident triggered intense scrutiny of Vedanta’s activities, compliance with environmental regulations and corporate behavior, sparking debate about the balance between economic progress, public health and environmental protection. After the incident, local communities and activists expressed concerns, and the Tamil Nadu government decided to permanently close the Sterlite Copper factory in May 2018 due to environmental and public health concerns. The incident also triggered legal proceedings, public interest litigation and investigations. The state government launched an investigation into the events leading up to the violence and police action. India’s specialized environmental court, the National Green Tribunal, also stepped in and ordered an assessment of Sterlite Copper’s compliance with environmental standards.
Protesters against Vedanta Group after Tuthukudi massacre
Awards, Honors, Achievements
- Anil Agarwal was named Entrepreneur of the Year by Ernst & Young in 2008.
- Anil Agarwal received the Mining Magazine Lifetime Achievement Award in 2009.
- Anil Agarwal received the Economic Times Business Leadership Award in 2012.
Anil Agarwal received the Economic Times Business Leadership Award 2012 from Dr. Manmohan Singh
- In 2013, Anil Agarwal was awarded the Dr. Thomas Cangan Leadership Award by the Faculty of Management, Institute of Rural Management, Jaipur (FMS-IRM).
- Anil Agarwal was named Entrepreneur of the Year at the Asia Awards 2016.
- Anil Agarwal received the One Globe Forum (OGF) Award in 2018 in recognition of his contribution in creating positive social impact in the communities where his team operates and initiatives such as Nand Ghar.
- Anil Agarwal received the Asia Achievement Award 2019 – Lifetime Achievement Award.
- Anil Agarwal wins Asia Business Philanthropy Award 2021.
- Anil Agarwal was awarded the CIF (Canadian India Foundation) Global India Awards 2022 in Toronto, Canada.
net worth
According to the Forbes 2022 India Rich List, Anil Agarwal is worth US$2.01 billion as of 2022.
Favorites
- Drink: Sattu kar Sharbat
Facts/Trivia
- Anil Agarwal follows a vegetarian diet.
- Anil Agarwal knows three languages: English, Hindi and Rajasthani.
Categories: Biography
Source: HIS Education