Vinod Adani

Vinod Shantilal Adani (born 1949), also known as Vinod Shantilal Shah, is an Indian-born Cypriot billionaire businessman who runs a family investment office in Dubai. He is the owner of Excel Investment and Advisory Services.

As of 2025, he has a net worth of $16.4 billion.

Personal life Vinod was born in 1949 in Gujarat, India into Adani family who was involved in commodity trading. He is the elder brother of the Indian billionaire Gautam Adani. He is married to Ranjanben Vinod Adani and has been a resident of Dubai since 1994 and is a citizen of Cyprus.

Career Vinod Adani initially joined his family business. In 1989, he moved to Singapore to trade commodities. He founded GA International in the Bahamas in January 1994, listing himself and his wife, Ranjanben Vinod Adani, as directors. In 1996, he changed his name to Vinod Shantilal Shah, a name appearing in various corporate filings related to Adani companies.

In 2014, Directorate of Revenue Intelligence of India accused Vinod Adani of involvement in a scheme to inflate the cost of imported power machinery to evade taxes and divert approximately $900 million to a Mauritius-based company linked to him.

In January 2021, TotalEnergies acquired a 20 percent stake in publicly traded Adani Green Energy not through the open market, but by purchasing two Mauritius-based entities owned by Vinod Adani. In September 2022, the Adani Group's $6.5 billion acquisition of stakes in two Indian cement companies from Swiss firm Holcim was similarly conducted via a Mauritius firm controlled by Vinod and his wife. The report identified 38 shell entities in Mauritius and additional companies in Cyprus, the United Arab Emirates, Singapore, and several Caribbean islands controlled by Vinod Adani or his associates. Eight of the twelve accused offshore funds approached the SEBI and paid penalties to settle the accusation charges.

Wealth As per 2022 Hurun India Rich List, Vinod was named as the richest non-resident Indian, and the sixth-richest Indian overall, with a fortune of ₹169,000 crore (US$20.42 billion). According to Forbes' investigation in 2023, he owns an apartment in Singapore and 37 properties in Dubai, including one in the Burj Khalifa.