S. P. Hinduja

Srichand Parmanand Hinduja (born 28 November 1935) is an Indian born British billionaire business magnate, investor, and philanthropist. He is the primary shareholder and chairman of Hinduja Group of companies. As of May 2020, together with his brother Gopichand he is the UK's second richest man.[2] Since the 1990s, he has been consistently ranked among the UK and Asia's wealthiest people. In May 2019, Hinduja topped the Sunday Times Rich List with an estimated wealth of GBP 22 billion ($27.7 billion). Based on the rich list compiled by Asian Media & Marketing Group, Hinduja's wealth is estimated at GBP 25.2 billion ($31.7 billion).[3] The Forbes List in March 2019 ranked him and his brother GP as the world's 65th richest billionaire family with an estimated wealth of $16.9 billion.[4]

S. P. Hinduja
Born (1935-11-28) 28 November 1935
Karachi, Sindh, British India (now Pakistan)
NationalityBritish
EducationDavar's College of Commerce
R. D. National College
OccupationChairman, Hinduja Group
Net worth US$12.6 billion (2020)[1]
Spouse(s)Madhu Hinduja
Children3
Parent(s)Parmanand Deepchand Hinduja
Jamuna Parmanand Hinduja
RelativesGopichand Hinduja, Prakash Hinduja and Ashok Hinduja (brothers)

Early life

Srichand Parmanand Hinduja was born on 28 November 1935 in Karachi, Sindh province, British India. He is the second son of Parmanand Deepchand Hinduja and Jamuna Parmanand Hinduja.[5][6] He was educated at Davar's College of Commerce and R. D. National College, both in Mumbai.[6]

Alongside his younger brothers Gopichand, Prakash, and Ashok, Hinduja is known as the patriarch of India's "fab four".[7]

Early business career

Hinduja began his career in his father's textile and trading businesses in Bombay, India, and Tehran, Iran. One of his first big coups, in the early 1960s, was the acquisition of the overseas rights to the Indian blockbuster Sangam. Hinduja distributed and promoted the film in Middle Eastern markets and its success earned him millions of dollars.[8] Other successful businesses Hinduja initiated in his early career included the sale of food commodities (onions and potatoes) and iron ore from India to Iran.[9]

Business career 1980–2000s

With the acquisition of Ashok Leyland (from British Leyland) and Gulf Oil (from Chevron) in the 1980s and the establishment of banks in Switzerland and India in the 1990s, Hinduja became one of India's best known business tycoons alongside such names as Tata, Birla, and Ambani.[10] In 2012, the Group acquired the US firm Houghton International, the world's largest metal fluids manufacturer, for $1.045 billion forming a consortium with the help of Ghouse Mohammed Asif, JP Morgan ( Director of Private Equity ) and Hank Paulson , Former United States Secretary of the Treasury ( Ex - Goldman Sachs ) .[11]

Business approach

Hinduja's business approach is conservative and opportunistic, investing in diversified business sectors ranging from oil & gas, banking & finance, and IT to real estate, energy & chemicals, power, and media & entertainment.[12][13]

Wealth

In 2019, Hinduja was the UK's wealthiest person, with an estimated wealth of GBP 22 billion ($27.7 billion) according to the Sunday Times Rich List.[14]

As of March 2019, Forbes ranks SP and GP Hinduja as the 65th richest in the world, with a net worth of $16.9 billion, with Forbes India estimating his net worth at $18 billion. This makes him the 4th wealthiest Indian-origin business magnate in the world.[15][1]

The October 2013 issue of Forbes Life estimates the Hinduja home in London's Carlton House Terrace down the Mall from Buckingham Palace to be worth $500 million, making it the third most expensive private home in the world.[16][17]

Personal life

Hinduja is married to Madhu Srichand Hinduja, and they have two daughters.[7][6] The Hinduja family is of Sindhi heritage.[18]

In 1988, their daughter Shanu Srichand Hinduja married Suren Mukhi, the son of Narsi and Janki Mukhi, another London-based Sindhi trading family.[19]

Their other daughter, Vinoo Srichand Hinduja is on the board of management for the P.D. Hinduja National Hospital and Medical Research Centre in Mumbai.[20][21]

On 19 May 1992, their only son, Dharam Hinduja, died a few days after receiving 70% burns from self-immolation in a hotel room in Mauritius, as part of a suicide pact with his wife, who survived. He had secretly married Ninotchka Sargon, a Roman Catholic Australian, at Chelsea Register Office in January that year.[22][23]

Hinduja is a teetotaler and a strict vegetarian. He is known to bring his own vegetarian food to the Queen's banquets at Buckingham Palace.[24]

References
  1. "Hinduja family". Forbes. 1 January 1970. Retrieved 22 May 2016.
  2. "Hinduja Brothers Slip To 2nd Spot In UK's Richest List Due To COVID-19: Report". NDTV.com. Retrieved 10 June 2020.
  3. Andrew Bounds (22 March 2013). "Mittal loses top spot in rich list". Business & Economy. The Financial Times Ltd. Retrieved 20 June 2015.
  4. "Srichand & Gopichand Hinduja". Forbes. Archived from the original on 7 March 2013.
  5. "SP's USP: Family First, Biz Later – Times Of India". Articles.timesofindia.indiatimes.com. 12 February 2011. Retrieved 21 August 2012.
  6. Europa Publications (2003). The International Who's Who 2004. Psychology Press. p. 733. ISBN 978-1-85743-217-6. Retrieved 22 May 2016.
  7. "SP's USP: Family First, Biz Later – The Times of India". Timesofindia.indiatimes.com. 12 February 2011. Retrieved 21 August 2012.
  8. "The world is their bazaar". Pranaygupte.com. 28 December 1987. Retrieved 21 August 2012.
  9. Cragg, Claudia (1996). The New Maharajahs: The Commercial Princes of India, Pakistan and Bangladesh – Claudia Cragg – Google Books. ISBN 9780712677615. Retrieved 21 August 2012.
  10. "Hinduja to launch $500-mn infra fund". Business-standard.com. 18 April 2012. Retrieved 21 August 2012.
  11. James Crabtree (7 November 2012). "Hindujas' Gulf Oil agrees $1bn US deal". Industrials Chemicals. The Financial Times Ltd. Retrieved 20 June 2015.
  12. "Hinduja group forms power sector JV with Germany's STEAG – The Times of India". Timesofindia.indiatimes.com. 28 March 2012. Retrieved 21 August 2012.
  13. "Hindujas to foray into India's real estate sector". The Asian Age. 22 July 2012. Retrieved 21 August 2012.
  14. "The Rich List". The Sunday Times. Retrieved 22 May 2016.
  15. "India's 100 Richest People List". Forbes. 1 January 1970. Retrieved 22 May 2016.
  16. "Carlton House Terrace: The Hindujas' New $500 Million Real Estate Masterpiece". Forbes. 8 October 2013. Retrieved 22 May 2016.
  17. "Villa Leopolda, Villefranche-sur-mer, France – In Photos: The World's Most Expensive Billionaire Homes". Forbes. 1 January 1970. Retrieved 22 May 2016.
  18. Palijo, Waseem (8 January 2019). "Most billionaires in India today once resided in Pakistan's Sindh". Daily Times. Archived from the original on 7 May 2020. Retrieved 7 May 2020.
  19. M. Rahman (15 January 1988). "Dazzling spectacle of tradition and modernity for Hindujas' daughter's wedding : Living – India Today 15011988". Indiatoday.intoday.in. Retrieved 22 May 2016.
  20. "Live To Give Hope". Hindujahospital.com. 1 November 1932. Retrieved 22 May 2016.
  21. "Newsletter". Hinduja Group. Retrieved 22 May 2016.
  22. "Millionaire's son died in suicide pact with wife". The Independent. 22 October 1992. Retrieved 22 May 2016.
  23. "Hinduja heir Dharam fails to cope with family pressures against his wife, ends life". Retrieved 22 May 2016.
  24. Hinduja, Srichand (8 February 2009). "What we are witnessing is the trailer to the real movie". Calcutta, India: Telegraphindia.com. Retrieved 21 August 2012.
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