Skip to content Skip to Search
Skip navigation

India’s richest expat lives in Dubai, earning $12.45m a day

Vinod Adani Hurun India
Vinod Adani manages trading businesses in Dubai, Singapore and Jakarta

Dubai-based Vinod Shantilal Adani, elder brother of Indian billionaire Gautam Adani, is the world’s richest non-resident Indian, earning $12.45 million (Rs 102 crore) daily, according to the latest figures from the IIFL Wealth Hurun India Rich List 2022.

Vinod Adani manages trading businesses in Dubai, Singapore and Jakarta and saw his wealth increase by 28 percent or Rs 37,400 last year.

He soared from 49th spot last year to be ranked sixth on this year’s list of the richest Indians.

In the last five years his wealth has grown by 850 percent, or Rs 151,200 crore, to Rs 169,000 crore.

Adani started his career in 1976 in Bhiwandi, a logistics and textile industry hub in Maharashtra, in western India. He expanded his commodities business portfolio in the international market by opening an office in Singapore.

He stayed there to expand his business but is now based in Dubai, where he is involved in the sugar, oil, aluminium, copper and iron scrap businesses.

His brother, Gautam Adani, rose from eighth position in 2018 to the top spot in 2022, with his wealth increasing 15.4 times to Rs 10,94,400 crore.

In second place on the list is Mukesh Ambani with Rs 7,94,700 crore.

Dubai has seen a sharp rise in its community of wealthy residents.

The Wealthiest Cities in the World for 2022 report, compiled with data from global wealth intelligence firm New World Wealth, found that Dubai currently ranks 23rd globally and is home to 67,900 millionaires, 202 centi-millionaires (those with net assets of $100 million or more), and 13 billionaires.

The UAE city is predicted to be in the top 20 wealthiest cities in a few years, with the number of residents having wealth of seven figures rising by 18 percent this year.

Latest articles

reducing inflation Egypt Mohamed Maait finance minister

Reducing inflation is Egypt’s top priority, says minister

Reducing inflation in Egypt to align with the central bank’s target is the government’s main priority, the country’s finance minister, Mohamed Maait, has announced. Inflation in Egypt fell to 33 percent in March from 38 percent in September, passing the central bank’s target range of a 5 to 9 percentage point fall. Maait, speaking at […]

The Khazna facility will raise utility Ewec’s total installed solar PV capacity to 5.5 gigawatts

Developers sought for Abu Dhabi’s Khazna solar plant

Emirates Water and Electricity Company (Ewec) is seeking developers to build a 1,500 megawatt solar power facility in Abu Dhabi as the emirate ramps up its green energy drive. The utility has issued a request for proposals to qualified companies that have expressed interest in developing the Khazna Solar Photovoltaic project. A total of 27 […]

Turkey textiles

Hit by rising costs, Turkey’s textile producers move overseas

Textile manufacturers in Turkey, struggling with pricing pressures and labour costs, are moving their operations overseas, although at least some in the sector see a turnaround by the year’s end. The Istanbul Chamber of Industry sectoral purchasing managers’ index for March showed sentiment among textile manufacturers was the lowest among the 10 sectors covered by […]

Mubadala-backed Getir weighs asset sales

Turkey’s grocery delivery startup Getir is considering asset sales as part of its ongoing restructuring talks, according to a media report. The company, operating in five markets, including the UK, aims to sell off assets such as US online grocer FreshDirect, acquired last year, and BiTaksi, a ride-hailing app in Turkey, Sky News reported, citing unnamed […]