Dilip Shanghvi is the founder of $3.6billion, Sun Pharma, India's most valuable pharma company.
Net Worth 2019: $7.6 Billion
At 63, Sanghvi, the founder of India's most valuable pharma outfit, Sun Pharma has a net worth of around $7.5 billion.
Sun Pharma which manufactures gynecology and oncology medicines amongst others, is one of India’s most companies with a revenue of $3.6 billion. It has operations across 150 countries and employs over 50,000 people.
He once dethroned Mukesh Ambani as India's richest man, but witnessed a massive decline in his wealth
Net Worth 2018: $12.8 Billion
In 2015, Dilip Sanghvi dethroned Mukesh Ambani, to become India's richest person. The wealth of Sun Pharma promoters was then at $19 billion. However, over the last four years, Shanghvi lost over 60% of his wealth owing to declining Sun Pharma valuation. Sun Pharma’s market cap declined more than 40% between 2015 and 2018 after US Food and Drug Administration issued a warning against Sun Pharma’s Halol plant over manufacturing lapses. According to Forbes, he had a net worth of $16.7 Billion in 2016, which reduced to $7.6 billion in 2019.
The Indian billionaire who took home a salary of ₹1 for FY 2019 to cut operational costs
Shanghvi ‘unschooled in science and management’ turned Sun Pharma into a $3.6 billion multinational company
Net Worth 2015: $20 Billion
Shanghvi never studied science or management and worked at a tiny shop in Dawa Bazar in Calcutta. He came from a middle class family in Amreli, Gujarat and pursued Bachelor of Commerce from the University of Calcutta.
He worked as a pharmaceutical distributor and later started his own company at the age of 27. He took a ₹10,000 loan from his father, and two medicines for psychiatry to start the company.