Several businessmen in India used to work for other firms before starting their own firms. They resigned from their jobs and decided to take a plunge into the business journey. Years later, they became successful businessmen with net worth in crores. One such person is Vijay Agarwal, chairman and managing director of construction equipment maker Action Construction Equipment (ACE). He founded the firm in 1995 after quitting his Rs 30,000 per month salary job.
Years later, the 75-year-old became one of the richest businessmen in India. Agarwal recently made it to the Forbes 'World's Billionaires' list for 2024. According to the magazine, he has a real-time net worth of Rs 11,670 crore as of April 10. Agarwal is also a well-known leading industrialist, investor and philanthropist. He is an alumnus of Faculty of Management Studies (FMS).
His company makes hydraulic mobile cranes, tower cranes, loaders, tractors and agri-harvesters under the brand name ACE. The company's clients include Tata Group, Larsen & Toubro and Anand Mahindra's Mahindra Group. ACE has a market cap of Rs 17670 crore as of April 10 on NSE. The share price of the company closed at Rs 1,485 on Wednesday. Agarwal's wife Mona and son Sorab work with him. The duo have a seat on the company's board.
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