Meet Bihar’s Richest Man Who Failed 9 Times, Never Completed His Studies, Started As Scrap Dealer – Now Has Net Worth Of…

Anil Agarwal was born in 1954 into a Marwari family in Patna, Bihar. Instead of pursuing higher studies, he chose to assist his father in their small scrap metal business after completing high school. This decision marked the start of his entrepreneurial journey.

 

In the mid-1970s, Agarwal began working with scrap metal and purchased Shamsher Sterling Corporation in 1976. This small step led him toward creating a business empire, despite facing multiple challenges and setbacks.

 

Ten years after starting his business, Agarwal founded Sterlite Industries. This revolutionized India’s industrial sector by establishing the country’s first private copper smelter and refinery in 1993. This move solidified his position in the metal industry.

 

In the late 1990s, Agarwal expanded into mining by acquiring 65 per cent of Hindustan Zinc Limited (HZL) and 51 per cent of Bharat Aluminium Company (BALCO). These acquisitions were pivotal in building his empire, giving him control over critical natural resources.

 

In 2003, Anil Agarwal founded Vedanta Resources and took it public on the London Stock Exchange. Initially focusing on manufacturing wires, the company evolved into a global conglomerate dealing in power, copper, zinc, silver, aluminium, oil, and gas. In 2019, Agarwal took the company private again to strengthen its control and operations.

 

Vedanta partnered with Foxconn, a Taiwanese giant, to invest 20 billion dollars in semiconductor and display facilities in Gujarat. Agarwal also made headlines with Vedanta’s willingness to pay 250 million dollars to settle dues with Zambian suppliers before reclaiming control of copper mines seized by the Zambian government.

 

In 1992, Agarwal established the Vedanta Foundation to spearhead philanthropic efforts. Inspired by Bill Gates, he pledged to donate 75 per cent of his family’s fortune to charity. Today, with a net worth of Rs 16,000 crore, according to Forbes, Agarwal’s journey from a small scrap metal trader to one of India’s wealthiest industrialists is truly inspiring.