Gopichand Hinduja, the third son of Paramanand Hinduja took over his father’s trading business along with his brothers and transformed it into a multi-billion dollar business conglomerate. Today, he is ranked as the UK’s wealthiest person according to the Annual Rich List survey.
The company which was founded by his father is now present in multiple sectors such as automotive, oil, chemicals, banking, finance, media, telecom, ITeS, cyber security, infrastructure, and healthcare. In 2022, the net worth of the Hinduja brothers amounted to a whopping $32 billion, making them the richest people in the United Kingdom.
Paramanand Hinduja was a trader and started a small business in the Sindh region. Merchant banking and trading are part and parcel of the Hinduja group. In 1919, the business headquarters of the group was moved to Iran.
He was also a key person in establishing trade links between India and Persia. After his demise, the brothers moved the business headquarters to London in 1971, where they would go on to become permanent citizens. The only advice Paramanand Hinduja gave to his sons was to advance fearlessly, which they did.
Over the years, the Hinduja group acquired several multinational businesses and ventured into areas that were unknown to them. The Hinduja group would go on to acquire Gulf Oil from Chevron which manufactures lubricants, explosives, and fuel.
In 2007, Hinduja Group also indirectly acquired a 51% stake in India’s largest automobile manufacturer, Ashok Leyland, making it their flagship venture. Gopichand Hinduja played a key role in the acquisition of these brands and increasing the group’s reach.
In 2023, Gopichand Hinduja became the chairman of the Hinduja Group after the demise of his elder brother Srichand Hinduja. However, Hinduja has been in the family business since 1959. He started his career at his father’s textile business in Bombay.
He graduated in economics from Jaihind College and got an honorary doctorate in law and economics from the University of Westminster and Richmond College, London. Gopichand married Sunita Hinduja and has two sons and a daughter. He acquired UK citizenship in 1997, becoming a permanent citizen of the country.
Today, the strong presence of Hinduja Group is felt across the globe due to its subsidiaries like Ashok Leyland, Gulf Oil International, Hinduja Bank, IndusInd Bank, Hinduja Technologies Limited, Hinduja Global Solutions Limited, and Hinduja Healthcare Limited.
Hinduja is the largest Indian-origin, UK-based business group in the world today. Employing more than half a million employees, the group continues to make waves across the world.
But things were not always so smooth for the siblings. The billionaire brothers locked horns in a legal battle in 2020. The elder brother and chairman of Hinduja Group would always reiterate to his siblings that “everything belongs to everyone and nothing belongs to anyone”.
The brothers always adhered to this golden rule until they broke it in 2020. Gopichand along with his younger siblings Prakash and Ashok got into a legal battle with their elder brother Srichand, who claimed the ownership of Hinduja Bank with his son and daughter. However, the legal battles and litigation had nothing to no effect on Hinduja Group’s global business, which continues to soar high.
Gopichand Hinduja along with Srichand Hinduja is constantly ranked as the UK’s richest person. He would often top the Sundays Times Rich List, The Forbes List, the Annual Rich List survey, and Asian Media and Marketing Group’s rich list.
Gopichand has an estimated net worth of about $20 billion. The Rich List has confirmed that Gopichand has quadrupled his net worth in the last decade. Gopichand’s elder son Sanjay Hinduja is the chairman of Gulf Oil International Limited. His younger son Dheeraj Hinduja is the chairman of Ashok Leyland and looks after the India operations.
The Hinduja Group which started as a textile and food exporting business has a presence in almost every country around the world. The group has always acclimatized to the free-market reforms and has contributed to old and modern economic sectors, in India and worldwide.
Hinduja also has several charitable organizations to give back to the society. Having ventured into many niches, Gopichand and the brothers have expanded more than what their father would have ever imagined.
