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• Underdog to Metal King...
Born in 1954 in Patna, Anil Agarwal rose from running a tiny scrap metal business four decades back to becoming one of the India's wealthiest tycoons with a business empire spanning across mining and petroleum. Agarwal began trading in scrap metal in mid-1970s. He acquired Shamsher Sterling Corporation in 1976. Ten years later, he set up Sterlite Industries, which became the first private sector company in India to set up a copper smelter and refinery in 1993. He ventured into mining a few years later and acquired 51 per cent stake in Bharat Aluminium Company (BALCO) and a majority share (nearly 65 per cent) in state-run HZL (Hindustan Zinc Limited).
In 2003, Agarwal incorporated Vedanta Resources in London to access international capital. The firm is a globally diversified natural resources conglomerate, with interests in zinc, lead, silver, copper, iron ore, aluminium, power generation, and oil and gas. Agarwal in 2012 indicated that he would in 3-4 years time step back from leadership and take a mentoring role as non-executive chairman. But in January 2019, he said he has no immediate plans to retire or take a non-executive role at Vedanta Group. In 1992, Agarwal created the Vedanta Foundation to carry out philanthropic programs and activities. He has pledged to donate 75 per cent of his family’s wealth to charity, saying he was inspired by Bill Gates.