S. P. Hinduja facts for kids

Srichand Parmanand Hinduja (28 November 1935 – 17 May 2023) was an Indian-born British billionaire businessman, investor, and philanthropist. He was the primary shareholder and chairman of Hinduja Group of companies. As of August 2022, together with his brother Gopichand, he was the UK's richest man. From the 1990s, he was consistently ranked among the UK and Asia's wealthiest people. In 2022, Hinduja topped the Sunday Times Rich List with an estimated wealth of £28.472 billion sterling. Based on the rich list compiled by Asian Media & Marketing Group, Hinduja's wealth is estimated at £25.2 billion (US$31.7 billion). The Forbes List in March 2019 ranked he and his brother Gopichand as the world's 65th richest billionaire family with an estimated wealth of $16.9 billion.

Early life

Srichand Parmanand Hinduja was born on 28 November 1935 in Karachi, Sindh province, British India. He was the second son of Parmanand Deepchand Hinduja and Jamuna Parmanand Hinduja. He was educated at Davar's College of Commerce and R. D. National College, both in Mumbai.

Alongside his younger brothers Gopichand, Prakash and Ashok, Hinduja was known as the patriarch of India's "fab four".

Early business career

Hinduja began his career in his father's textile and trading businesses in Bombay, India, and Tehran, Pahlavi Iran. His successful businesses in his early career included the sale of food commodities (onions and potatoes) and iron ore from India to Iran.

Business career 1980–2000s

With the acquisition of Ashok Leyland (from British Leyland) and Gulf Oil (from Chevron) in the 1980s and the establishment of banks in Switzerland and India in the 1990s, Hinduja became one of India's best known business tycoons alongside such names as Tata, Birla, and Ambani. In 2012, the Group acquired the US firm Houghton International, the world's largest metal fluids manufacturer, for $1.045 billion forming a consortium with the help of Ghouse Mohammed Asif, JP Morgan ( Director of Private Equity ) and Hank Paulson , Former United States Secretary of the Treasury ( Ex - Goldman Sachs ) .

Business approach

Hinduja's business approach was conservative and opportunistic, investing in diversified business sectors ranging from oil & gas, banking & finance, and IT to real estate, energy & chemicals, power, and media & entertainment.

Wealth

In 2022, Hinduja was the UK's wealthiest person, with an estimated wealth of £28.5 billion according to the Sunday Times Rich List.

As of March 2019, Forbes ranked SP and GP Hinduja as the 65th richest in the world, with a net worth of $16.9 billion, with Forbes India estimating his net worth at $18 billion. This made him the 4th wealthiest Indian-origin business magnate in the world.

The October 2013 issue of Forbes Life estimated the Hinduja home in London's Carlton House Terrace down the Mall from Buckingham Palace to be worth $500 million, making it the third most expensive private home in the world.

In 2001, Hinduja was involved in the UK’s "cash-for-passports" scandal, where he donated money for the Millennium Dome while applying for British citizenship, leading to resignation of Peter Mandelson.

Personal life

Hinduja was married to Madhu Srichand Hinduja, and they had two daughters. Hinduja was a Sindhi Hindu.

A daughter, Vinoo Srichand Hinduja is on the board of management for the P.D. Hinduja National Hospital and Medical Research Centre in Mumbai.

Hinduja was a strict vegetarian. He was known to bring his own vegetarian food to the Queen's banquets at Buckingham Palace.

His wife, Madhu, died in January 2023. S. P. Hinduja died of complications of Lewy body dementia in London, on 17 May 2023, at the age of 87.

He died in London after a prolonged illness at the age of 87.