This man has net worth of Rs 6500 crore and he is neither a celebrity nor a businessman

Ignatius Navil Noronha does not own any business but has a net worth that many business tycoons would envy. He is also wealthier than most celebrities, be it film stars or sporting icons. Noronha is India’s wealthiest manager and professional CEO who had a net worth of Rs 6,500 crore as per the most recent IIFL Wealth Hurun India Rich List. 

The non-promoter CEO saw his wealth increase by 12 percent in the year. He is the brain behind the path-breaking supermarket chain DMart, founded by famed investor and billionaire Radhakishan Damani. 

Noronha, who keeps a low profile, has been credited with setting new standards in the FMCG sector. While he did not start a successful business, he is considered a visionary and among the best CEOs due to his strategic genius. He is credited with the innovative 48-hour supplier payment policy that changed the game. 

Noronha is known as a humble and diligent business leader who only skipped office once since Avenue Supermarts’ IPO. He recently bought one of Mumbai’s highest valued property deals, paying Rs 70 crore for a lavish residential space in Bandra (East) with 10 car park. He reportedly earns Rs 4.5 crore as salary and draws most of his wealth from the significant stake he has earned in the listed company over the years.