75-year-old PNC Menon is one of the richest NRIs in the world. Born into a modest family, PNC Menon faced a tragic loss at an early age when he lost his father at just 10 years old. A college dropout, Menon left India with just $7 which came to around Rs 50 in his pocket. Today, he commands a net worth of nearly Rs 15,000 crore ($1.8 billion).
Puthan Neduvakkatt Chenthamaraksha Menon is the founder of the Sobha Group which has a business empire spanning India, Middle East and UK. Hailing from Kerala, Menon’s education ended when he decided to drop out of Kerala Varma college, Thrissur to follow his dream to become a businessman. He started an interior decoration business.
In 1976, he set out for Muscat, Oman hoping to have luck at his side and with just a handful of money in his pocket. He co-founded his first company, S&T Interiors and Contracting, in 1977 with a loan of around Rs 75,000. The business was a well-established top company in the country by 1984.
The next big turning point came in the 1990s when Menon identified the potential of the real estate and construction sector. Deciding to start his next business in India, he set up Sobha Developers in 1995. He also owns Sobha Realty which operates his business in the Middle East. Menon crafted the interiors of landmark buildings like the Al Bustan Palace and the Sultan Qaboos Grand Mosque in Oman.
PNC Menon received the Pravasi Bharatiya Samman Puraskar from the President of India in 2009. His Sobha Realty is one of the top unlisted real estate firms in the Gulf. Listed on Indian Stock Exchanges, Menon's Sobha Developers has a market cap of nearly Rs 9700 crore.
