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Meet Indian who went to Middle East for charity, ended up building Rs 20000 crore business empire
Dr Moopen was a gold-medalist during his MBBS days but was more inclined on giving back to the society. He started as a doctor, earning his MBBS and MD degrees from the local government medical college.
Updated : Jan 04, 2024, 01:26 PM IST
 "Meet professor who quit job to build Rs 20000 crore business empire, his net worth is…")
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There are several billionaires whose success stories are built on passion, hard work and sheer ambition. Then there are some who never intended to be billionaires and their rise was triggered by a curious coincidence. Today we will talk about one such businessman who had never dreamed of building a multi-billion dollar business empire but is today the man behind a healthcare giant with a market cap of Rs 20,200 crore.
70-year-old Dr Moopen is the son of freedom fighter and social leader late MA Moopen. He was a gold-medalist during his MBBS days but was more inclined on giving back to the society. He started as a doctor, earning his MBBS and MD degrees from the local government medical college. He began his career as a university professor but a chance journey to the UAE for charity changed his trajectory. It was in the 1980s that Dr Moopen landed in the Gulf for the first time. He was there to raise money for the renovation of a mosque back home and was supposed to return to India for good. But a friend and senior from college persuaded him to stay on in Dubai.
Dr Moopen started with a single clinic as a general physician out of a rented two-bedroom flat. From working as a physician for more than 12 hours to fill the healthcare void in the Gulf, he opened several clinics, pharmacies and hospitals one by one. Two decades later, he realised by the early 2000s that his business had become too big for him to keep up his duties as a doctor.
2008 was the turning point as Dr Moopen realised the massive worth of his business empire. A private equity firm valued his company at $100 million. Then in just 4 years, it was valued at $400 million in 2012. This was eye-opening for Dr Moopen. His India and Gulf businesses are now separate from each other. The company runs around 20 hospitals, 90 clinics and 200 pharmacies, treating nearly 2 crore patients every year. Dr Moopen is today one of the richest persons in India with a net worth of over Rs 9,000 crore ($1.1 billion)
