Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade

Net worth 2018: $9.1 b

Some of its vaccines are as affordable as ₹5 a dose — that’s lower than the price of a cup of tea in India. This has been shaving off the company’s margins by 20-30% every year as tenders turn competitive. Yet it retained some of its biggest customers like the Indian government, WHO, UNICEF and GAVI.

“By selling some of our vaccines at ₹5 [a dose] we often sell at a loss. On average, margins are 20-30 percent, he says, which sometimes fall to 5 percent,” Adar Poonawalla, CEO, SII says.

Serum also promised to cut down the cost of penta-valent vaccines — that protect against diseases like diphtheria, pertussis (whooping cough), tetanus, hepatitis B and Haemophilus influenzae type B (Hib) — by 60%. According to Serum, these penta valent vaccines are priced at ₹100 (close to $1.75).

Navigating the complex business of vaccines was not Cyrus Poonawala’s first idea. At the age of 20, he was hoping to manufacture racing cars. He even built a $120 prototype modeled on the Jaguar D-Type. But he soon realised that wasn’t feasible. A chance meeting with a veterinarian who worked at his family’s stud farm triggered an idea to produce affordable vaccines.

Net worth 2017: $8.1b

Adar Poonawalla, the son of Cyrus Poonawalla is diversifying the business by venturing into finance. He set up Poonawalla Finance that offers unsecured personal loans to low- and middle-income consumers and to small businesses as well, reported Forbes.

Within four months of operation, the company has already established itself in 23 cities, lending $110 million. On the other hand, Serum Institute is planning to roll out new low cost vaccines for dengue and pneumonia.

Net worth 2016: $8.5b

Poonawalla is not all about changing the world for the better. He also enjoys his wealth. In 2015, he paid $120 million for a Mumbai mansion as a weekend home . He also kept his passion for hot wheels alive as he owns a range of Rolls-Royces, Bentleys and a Ferrari F430.

Moreover, the Poonawalla family owns India’s largest stud farm — that they built in 1946. When Cyrus Poonawalla isn’t busy with chairing the Serum Institute of India, he can be seen playing with the horses at the family-owned stud farm. “You get a glimpse of the good life even before you enter the Poonawallas’ Pune home,” writes Forbes India.

He also bought a rare 1931 pencil portrait of Mahatma Gandhi and a collection of his handwritten letters for ₹27 lac (close to £32,500).