Lachhman Das Mittal, 92, is India’s oldest billionaire with a net worth of USD 2.5 billion. Lachhman Das Mittal is the owner and chairman of Sonalika Group, which is third-largest tractor manufacturer in India.
According to Forbes 2023 list, Keshub Mahindra, the former chairman of Mahindra & Mahindra group was the oldest billionaire at 99. Unfortunately, Keshub Mahindra left for his heavenly abode on April 12.
Lachhman Das Mittal’s story is very interesting and he has worked really hard to achieve so much success in life. Lachhman Das Mittal was once an LIC agent and started business at 60. He entered into tractor manufacturing in 1996 and then went on to set-up Sonalika Tractors.
Sonalika Tractors has a huge manufacturing plant in Punjab’s Hoshiarpur. Sonalika Group has plants in five different countries and the company’s business operations is spread in over 120 countries.
Lachhman Das Mittal completed his graduation from a government college and then later enrolled for post graduation degree in Urdu and English. He is a gold medalist in MA English.
In 1955, Lachhman Das Mittal joined LIC and like every middle-class person, LD Mittal too started saving some money from his salary. Lachhman Das Mittal used all his savings to set up a side business of agricultural machines but the business tanked leaving Lachhman Das Mittal bankrupt. But he did not give up and finally tasted success after few years.
Lachhman Das Mittal’s sons Amrit sagar Mittal and Deepak Mittal now manages the operations of Sonalika Group, but he is still highly active professionally and goes to office every day.
