Meet Australia's richest Indian, once earned Rs 2500 a month, now runs Rs 105600 crore firm, no match for Ambani, Adani
The group’s clients are some of the biggest companies of the world- Audi, BMW, Mercedes, Maruti Suzuki and Volkswagen.
In an inspiring journey from India to Australia, Vivek Chaand Sehgal is a Renowned millionaire businessman. The 66-year-old is the co-founder of Motherson Group, a business conglomerate with an estimated sales of USD 12.7 billion, or around Rs 1,05,600 crore. It is widely known that Sehgal is the richest Indian in Australia. Even Indian billionaires such as Mukesh Ambani, Gautam Adani and Ratan Tata's wealth is no match for the family's wealth.
In 1975, he established the company -- Motherson alongside his late mother, Shrimati Swaran Lata Sehgal, focusing in silver trade at first. In addition, Vivek Chaand Sehgal is the head of the Samvardhana Motherson Group, which is a crucial division of the larger Motherson Group and produces car parts.
The grandfather of Vivek Sehgal was a successful jeweller. At the age of eighteen, Sehgal began silver trading, he sold one kilogramme of silver for one rupee, making about Rs. 2,500 a month in the early 1970s. He made the decision to start his own company after realising the potential of investing in and trading silver.
Along with his mother Swaran Lata Sehgal, Vivek Chaand Sehgal made the decision to launch Motherson, his own silver trading business, in 1975. Nevertheless, the silver trade industry quickly began to decline and was on the verge of bankruptcy.
Forbes reports Sehgal's net worth at USD 4.8 billion as of March 18, 2024 (Rs 38,965 crore), positioning him at the 666th spot globally in terms of wealth. In 2021, he secured the 49th position in India's richest list by the magazine.
Samvardhana Motherson International, previously Motherson Sumi, is the primary source of his wealth stems. Laksh Vaaman Sehgal, the son of Sehgal, is a director on the boards of Motherson Sumi Wiring India and Samvardhana Motherson International. He has two children.
Sehgal was born in Delhi, India on September 28, 1956. He completed his education in Pilani, Rajasthan's Birla Public School. Vivek Chaand Sehgal graduated from Delhi University. He was given the EY Entrepreneur of the Year Award in India in 2016. Notably, he founded Motherson Sumi wire India, a joint venture that now controls the Indian wire harness market and was formed by Sumitomo Wiring System and Motherson Group. Renowned brands include BMW, Ford, Mercedes, Toyota, and Volkswagen are among the group's clientele.