Dilip Shanghvi

Dilip Shanghvi
Born 1 October 1955
Amreli, Gujarat, India[1]
Residence Mumbai, Maharashtra
Nationality Indian
Ethnicity Gujarati[1]
Alma mater University of Calcutta (B.Com)
Occupation Founder and MD of Sun Pharmaceuticals
Net worth Decrease US$ 22.2 billion (2014)[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 is the richest Indian having surpassed the long-standing richest Indian on the list, Mukesh Ambani.[5]

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.[6] He is an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College, from where he did his schooling and graduation, respectively.[7]

Career

He started by helping his father in the latter's 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.[3][8] As of August 2014, He has a net worth of $19 billion, according to the Bloomberg Billionaire's Index.[9] He has also been named in the list of Asia’s top ten wealthiest self-made billionaires, according to Wealth-X.[8] Shanghvi is also the Chairman and Managing Director of Sun Pharma Advanced Research Company and Shantilal Shanghvi Foundation.[8]

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.[10]

On 19 February 2015, he surpassed Mukesh Ambani as the richest person of India, as his parent company stocks surges.[5]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "From a drug distributor to global pharma tycoon". DNA India. 8 April 2014. Retrieved 9 April 2015.
  2. ↑ "Bloomberg Billionaires". www.bloomberg.com. Retrieved 15 December 2014.
  3. ↑ 3.0 3.1 "India's Wealthiest Feel Pain, Gain Only 3%". Forbes (18 November 2013). Retrieved 31 August 2014.
  4. ↑ 4.0 4.1 "Bloomberg Billionaires: today's ranking of the world's richest people". Bloomberg. Retrieved 2 October 2014.
  5. ↑ 5.0 5.1 "Dilip Shanghvi overtakes Mukesh Ambani as richest Indian". India Today (Living Media India Limited). 4 March 2015. Retrieved 6 March 2015.
  6. ↑ "Going by market value, Sun Pharma's Dilip Shanghvi is richest Indian". Times of India. 20 February 2015. Retrieved 9 April 2015.
  7. ↑ "Forbes - Dilip Sanghvi". Forbes. Retrieved 31 August 2014.
  8. ↑ 8.0 8.1 8.2 "Sun Pharma’s Dilip Shanghvi among Asia’s top 10 richest self-made billionaires". Indian Express. 30 April 2014. Retrieved 31 August 2014.
  9. ↑ 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.
  10. ↑ Balakrishnan, Reghu (10 April 2014). "Newsmaker: Dilip Shanghvi". Business Standard. Retrieved 31 August 2014.