Meet man, who was once wealthier than Mukesh Ambani, Gautam Adani, Ratan Tata, recipient of Padma Bhushan, now stays in rented flat due to...

India has seen the rise of many business tycoons like Mukesh Ambani, Gautam Adani, and Ratan Tata, who have built vast empires. However, one man who was once wealthier than them all now lives in a rented apartment. Vijaypat Singhania, the former chairman of Raymond Group, was once among the richest and most influential businessmen in India. However, his life took an unexpected turn, leaving him without the wealth he once controlled.

A business icon

Born into the prestigious Singhania family, Vijaypat led Raymond Group from 1980 to 2000. Under his leadership, the company became a global powerhouse in the textile and fashion industry. However, his journey was not without challenges, especially within his own family.

A family feud that changed everything

According to reports, Singhania faced internal conflicts after his uncle’s passing, as his cousins wanted control of the company. However, the most bitter dispute came later when he decided to divide his business between his two sons, Madhupati and Gautam Singhania.

While Madhupati moved to Singapore, Vijaypat handed over his 37% stake in Raymond to his younger son, Gautam, in 2015. But their relationship soon turned sour, leading to Vijaypat being ousted from the family home and left struggling financially.

More than just a businessman

Beyond business, Singhania is a celebrated aviator and was inspired by JRD Tata. He received India’s third-highest civilian award, the Padma Bhushan, in 2006, and was honored as an Honorary Air Commodore by the Indian Air Force in 1994.

Despite the ups and downs, Vijaypat Singhania’s legacy as the man who made Raymond a household name remains strong.