Meet Indian billionaire who has mines in Zambia, South Africa, now plans to buy diamond giant, his net worth is Rs...

Many Indian billionaires are expanding their business empires not only in India but also in other countries. After thriving in their businesses in one sector, they invest in other fields. One such person is Anil Agarwal, chairman and founder of Vedanta Resources. He is also the chairman of the Anil Agarwal Foundation, the philanthropic arm of Vedanta. 

Agarwal is a metals and mining magnate who turned a tiny scrap metal business into Vedanta Resources. The Indian billionaire owns gas mines in Zambia and South Africa. Now, Agarwal has entered to acquire African–British diamond giant De Beers, which is currently owned by Anglo American Plc, ET reported. 

Agarwal is part of one of six consortiums bidding for De Beers. Other interested parties include Indian diamond firms KGK Group and Kapu Gems, as well as Qatari investment funds, reports suggest. Indian companies, including KGK Group and Kapu Gems, which dominate the domestic cutting and polishing trade, and are De Beers's biggest customers

Anil Agarwal's net worth

The London-based miner is among the richest Indians. He and his family have a real-time net worth of USD 4.2 billion or Rs 36032 crore, as per Forbes. Agarwal has a majority stake in India-listed Vedanta. He has cut nearly USD 5 billion in debt at the debt-laden Vedanta Group. The group still has another USD 5 billion in debt, as per Forbes.

Born in 1954, in a lower-middle-class Marwari family in Patna, Bihar, Agarwal had humble beginnings. He began working at a young age, helping his father in the scrap business. In 1976, he took a big leap and acquired a small, struggling firm – Shamsher Sterling Cable Company.

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Since 2000, his Vedanta has made several big moves. In 2001, the company acquired a majority stake in Balco, a government-owned aluminium company. In 2003, Vedanta became the first Indian company to be listed on the London Stock Exchange. Its Indian arm, Vedanta Ltd, has a market cap of Rs 1.66 lakh crore, as of June 6.