In today's interconnected world, Indian entrepreneurs are not only leaving a significant impact within the borders of their country but are also making waves on the global stage. With a growing number of billionaires at the helm of successful enterprises, the reach of Indian business acumen extends far beyond national boundaries. Amongst them is Vivek Chaand Sehgal who is currently the richest Indian living in Australia.
Sehgal is an Indian-Australian billionaire businessman who is the chairman and co-founder of Samvardhana Motherson Group.
Founded in 1975, Motherson is one of the world's leading auto component makers. Their business largely supplies original equipment manufacturers (OEMs), spreading their influence from over 350 facilities in 41 countries spread across five continents with over 180,000 employees. In FY24, their total revenue from operations rose to Rs 98,692 crore.
Interestingly, the name of his company is ‘Motherson’ because Vivek Sehgal founded the company with his late mother Shrimati Swaran Lata Sehgal in 1975.
Sehgal whose grandfather was a jeweler stepped into the world of silver trading. At the very young age of 18, he started selling silver for just one rupee per kg. This endeavor fetched him a decent income of about Rs 2500 per month back in the early 1970s.
With time, he noticed the massive potential in silver trading and investment and decided to embark on the journey of entrepreneurship.
Vivek Chaand Sehgal decided to build his own silver trading company Motherson, along with his mother Swaran Lata Sehgal in 1975. However, the business of trading silver took a swift downturn and was on the edge of experiencing bankruptcy.
Despite all those challenges, Sehgal never gave up and he made a strategic move to dive into the auto industry. The company started making vehicle parts that proved key to their financial recovery. Samvardhana Motherson International majorly deals in auto parts production, a shift that played a huge part in increasing Sehgal's wealth.
At present, Samvardhana Motherson boasts a massive market capitalisation of Rs 1.3 trillion. Vivek Chaand Sehgal is the richest Indian in Australia who has a massive net worth of $7.8B (Rs 65,305 crore approx.), according to Forbes.
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