The Man Behind Rising 'Sun': Tale Of A Crorepati Druggist Who Borrowed Rs 10,000 To Start Business, Has A Net Worth Of Rs 1,46,090 Crore
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Second Richest Pharma Billionaire: Even though India is home to a number of pharmaceutical giants, few have been able to match or surpass Sun Pharmaceutical Industries Ltd.'s continuous development and expansion. Dilip Shanghvi, the founder and managing director of Sun Pharma, which is now India's largest medical manufacturer, is primarily responsible for its unparalleled success.
After Cyrus Poonawalla, the 67-year-old is the richest billionaire in the pharmaceutical industry. Forbes estimates that as of July 19, 2023, Shanghvi's net worth was about Rs 1,46,090 crore. According to the magazine, he is ranked 97th on the list of the richest people. In 2016, he was India's second-richest citizen. Additionally, Shanghvi's Sun Pharmaceutical Industries, which has a market value of a whopping Rs 2,60,000 crore, is regarded as India's most valuable pharmaceutical company.
Dilip Shanghvi: Background
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Shanghvi founded Sun Pharmaceutical in 1982 in Vapi, Gujarat, with the help of equipment borrowed from a friend and a loan of Rs 10,000 from his father. Shanghvi was born into a Gujarati family in the small village of Amreli, Gujarat. Having started with five psychiatric medications, he has since grown to become India's largest drug manufacturer and most trusted pharma company. In Kolkata, his father had a wholesale pharmaceutical business. He attended JJ Ajmera High School before earning a bachelor's degree in commerce from the Calcutta University-affiliated Bhawanipur Education Society College.
Ability To Save Failing Enterprises
Shanghvi possessed a gift for salvaging failing businesses. His expansion plans and implementation have also been consistent and fair. Many business gurus did not think his 1997 acquisition of Caraco Pharma was a wise idea. The loss-making business is now profitable thanks to his efforts. To achieve the pinnacle of success in his remarkable career, Dilip did not follow the safe route; instead, he went against the grain to propel Sun Pharmaceutical Industries to the top position. He is also the chairman and managing director of Sun Pharmaceutical Advanced Research Company, the first pure R&D company to list on the Indian Stock Exchanges. As a result of his decision to purchase the troubled medicine manufacturer Ranbaxy in 2020, which greatly increased firm revenues.
Shanghvi is an avid reader who enjoys comic books, novels, and science fiction. However, as he works in business, his interests have switched to literature in business and management. Other than that, he shares the same passion for films as any Indian and used to take his kids, Aalok and Vidhi, out to see films frequently when they were little. However, he despises being in the spotlight due to his wealth. The Indian government also awarded him the Padma Shri in 2016.
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