Who Is Vivek Chaand Sehgal, Australia’s Richest Indian And Owner Of Rs 1 Lakh Crore Company – News18

Vivek Chaand Sehgal, the co-founder of the business conglomerate Motherson Group, is one of the prominent millionaire businessmen today. The 66-year-old business tycoon had started his career with a salary of Rs 2,500 in the early 1970s and went on to establish an empire with staggering sales of Rs 1,05,600 crore. According to the reports, he has become the richest man in Australia. This space articulates how he managed to become one of the most reputed names in the business.

Vivek was born in Delhi, India on September 28, 1956 and completed his education in Pilani, Rajasthan’s Birla Public School. Vivek graduated from Delhi University and started the business of silver trading at the age of eighteen. His grandfather was a successful jeweller. In the business of silver trading, Vivek sold one kilogram of silver for one rupee and decided to start his own company after realising the worth of investing in and trading silver. With this motive, In 1975, he founded the company — Motherson alongside his late mother, Shrimati Swaran Lata Sehgal, dealing in the silver trade initially. The silver trade industry, however, soon began to decline. When it was on the verge of bankruptcy, Vivek ended his stint in this business. Undeterred by the failure, he then initiated his business proceedings in car parts.

Vivek is currently heading the Samvardhana Motherson Group, an important division of the larger Motherson Group and produces car parts. As per Forbes Magazine, his net worth stands at USD 4.8 billion (Rs 38,965 crore) as of March 18, positioning him at the 666th spot globally in terms of wealth. In 2021, he occupied the 49th position in India’s richest list by the magazine and was also given the EY Entrepreneur of the Year Award in India in 2016. In an interview with CNBC TV18, Vivek talked about his experience in the business and said,” We don’t strategise. Strategies are for your customer, let him strategise. You have to know that your strategy will always interfere with the customer’s strategy. This is why, not having a strategy is a great strategy.”