After his graduation, he joined a paper mill as a shift engineer. He also has a 50 percent stake in IPL cricket team Delhi Capitals.
Grandhi Mallikarjuna Rao or GM Rao is a well-known billionaire businessman in India. He is the founder and chairman of GMR Group, a global infrastructure developer and operator based in India. His company GMR Airports Infrastructure Limited, under GMR Group, operated airports at Hyderabad and Delhi as well as the Mactan Cebu International Airport in the Philippines. The company has a market capitalisation of Rs 32,202 crore as of August 18, 2023. The share price of the company was Rs 53.10 on Friday.
GM Rao's net worth
According to Forbes, Rao has a real-time net worth of USD 1.7 billion as of August 19, 2023. This is around Rs 14,130 crore today. The airports tycoon is currently at 2133th spot in the Forbes World's Billionaire List. The 72-year-old also has a 50 percent stake in IPL cricket team Delhi Capitals, Forbes reported. Rao has three children. His younger son, Grandhi Kiran Kumar, is the managing director and CEO of GMR Airports Infrastructure Limited.
GM Rao belongs to Srikakulam district in Andhra Pradesh. Rao holds a bachelor's degree in mechanical engineering from Andhra University. After his graduation, Rao joined a paper mill as a shift engineer and then joined the Public Works Department (PWD) of Andhra Pradesh Government as a junior engineer.
He then entered the trading of commodities. He acquired a failing jute mill at a bargain. Eventually, GM Rao divested his stake in a multitude of industries and started a bank named Vysya Bank in collaboration with ING. He was a director on the Board of Vysya Bank for several years and also served as a non-executive chairman of ING Vysya Bank between October 2002 and January 2006.
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