| Grandhi Mallikarjuna Rao | |
|---|---|
| Born | December 14, 1950 Andhra Pradesh, India |
| Residence | Bangalore, India |
| Occupation | Businessman |
| Net worth | $2.6 billion USD (2007)[1] |
| Website | |
| G.M. Rao | |
Grandhi Mallikarjuna Rao (Telugu: గ్రంధి మల్లికార్జున రావు) is the founder and chairman of GMR Group, a leading infrastructure developer in India[1]. He was ranked 198th in the world's richest list by Forbes, and his wealth was valued at $2.6 billion[2]. He is 18th on the list of Indians by net worth, as published by Forbes magazine.
Rao was born in Rajam, Srikakulam district in Andhra pradesh.
Rao started in jute mills and went on to found the GMR group. He expanded the GMR group into the energy and infrastructure sectors. In 2007, the GMR group won a bid to privatize India's third busiest airport, Indira Gandhi International Airport.[3] Rao spent $1 million on his bid and made a deal with Fraport AG to support his bid. GMR group has also completed a $200 million Hyderabad airport project, which was bid on in May 2000.[4]
In April 2009 he was linked with a £500 million takeover of English Premier League side Liverpool F.C..[5] He owns the Indian Premier League Twenty20 cricket team Delhi Daredevils.