Dilip Shanghvi
Dilip Shanghvi | |
---|---|
Born |
Amreli, Gujarat, India[1] | 1 October 1955
Residence | Mumbai, Maharashtra |
Nationality | Indian |
Ethnicity | Gujarati[1] |
Alma mater | University of Calcutta (B.Com) |
Occupation | Founder and MD of Sun Pharmaceuticals |
Net worth | US$ 17.5 billion (January 2016)[2][3] |
Dilip Shanghvi (born 1 October 1955) is an Indian businessman and one of the richest persons in India. He is the founder and managing director of Sun Pharmaceuticals.[4] As of the 2015 Forbes real time ranking, he overtook the Mukesh Ambani as the richest person in India.[5][6] The Government of India awarded him the civilian honour of the Padma Shri in 2016.[7]
Early life and education
Dilip was born in small town of Amreli[1] in Gujarat on 1 October 1955.[4] Shanghvi earned a Bachelor of Commerce degree from the University of Calcutta.[8] He is an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College, from where he did his schooling and graduation, respectively.[9]
Career
He started by helping his father in his wholesale generic drugs business in Kolkata.[1] It was during his work as a drugs distributor at Kolkata, he thought of manufacturing his own drugs instead of selling others' products.[1]
Dilip Shanghvi started Sun Pharmaceutical Industries with capital of Rs 10,000 in 1982 at Vapi.[1] Shanghvi founded Sun Pharmaceuticals in 1983 with five psychiatry products. Today, it is India's largest drugmaker and most valuable drug company. Appreciation of Sun's stock led to a 50% surge in his personal wealth, amounting to USD 4.7 billion.[2][10] As of August 2014, he has a net worth of $17.2 billion, according to the Bloomberg Billionaire's Index.[11] He has also been named in the list of Asia’s top ten wealthiest self-made billionaires, according to Wealth-X.[10] Shanghvi is also the Chairman and Managing Director of Sun Pharma Advanced Research Company and Shantilal Shanghvi Foundation.[10]
In 1997, he acquired Caraco Pharma, a loss-making American company, with the aim of expanding Sun's reach in the United States and turned them around in no time. Both the deals have paid off; the US now accounts for 60% of Sun's revenue. He also acquired Israel's Taro Pharma in 2007. He is also credited with steering Sun Pharma to fifth place in the global generic drugs market.[12]
On 19 February 2015, he surpassed Mukesh Ambani as the richest person of India, as his parent company stock surged.[6]
See also
References
- 1 2 3 4 5 6 "From a drug distributor to global pharma tycoon". DNA India. 8 April 2014. Retrieved 9 April 2015.
- 1 2 "India's Wealthiest Feel Pain, Gain Only 3%". Forbes (18 November 2013). Retrieved 31 August 2014.
- ↑ "Bloomberg Billionaires". www.bloomberg.com. Retrieved 15 December 2014.
- 1 2 "Bloomberg Billionaires: today's ranking of the world's richest people". Bloomberg. Retrieved 2 October 2014.
- ↑ "Forbes’ definitive list of wealth in India, profiling and ranking the country’s richest citizens by their estimated net worths.". Forbes. Retrieved 2016-04-10.
- 1 2 "Dilip Shanghvi overtakes Mukesh Ambani as richest Indian". India Today (Living Media India Limited). 4 March 2015. Retrieved 6 March 2015.
- ↑ "Padma Awards 2016". Press Information Bureau, Government of India. 2016. Retrieved February 2, 2016.
- ↑ "Going by market value, Sun Pharma's Dilip Shanghvi is richest Indian". Times of India. 20 February 2015. Retrieved 9 April 2015.
- ↑ "Forbes – Dilip Sanghvi". Forbes. Retrieved 31 August 2014.
- 1 2 3 "Sun Pharma’s Dilip Shanghvi among Asia’s top 10 richest self-made billionaires". Indian Express. 30 April 2014. Retrieved 31 August 2014.
- ↑ R Shyam, Ashutosh (4 August 2014). "Sun Pharmaceutical's Dilip Shanghvi tops global rich list of drugmakers with net worth of $17.2 billion". Economic Times. Retrieved 31 August 2014.
- ↑ Balakrishnan, Reghu (10 April 2014). "Newsmaker: Dilip Shanghvi". Business Standard. Retrieved 31 August 2014.