Bloomberg Billionaires Index is a list of the 20 wealthiest people who have made fortunes in the automotive sector. The list includes some household names: Tesla’s Elon Musk is worth $23.1 billion; Larry Ellison, with $58.5 billion in total wealth, owns a stake in Tesla that’s worth more than $730 million. From India Pallonji Mistry, chairman of Shapoorji Pallonji Group is ranked 4th and Rahul Bajaj is ranked at 18 with a total wealth of $5.2 billion.
Pallonji Mistry, chairman of Shapoorji Pallonji Group has been ranked 4th according to Bloomberg Billionaires Index. Mistry, aged 90, along with his family are shareholders in Tata Sons, the holding company behind more than 100 affiliates with $100 billion in annual revenue, according to the Index. The group employs 700,000 people in more than 100 countries.
Rank 4: Pallonji Mistry
Company: Tata Motors Ltd.
Stake Value: $302,722,710
Percent of Total Net Worth: 1.5%
Total Wealth: $19.7 billion
Segment: Passenger vehicles
The other Indian to feature in the list is Rahul Bajaj who is ranked at 18 with a total wealth of $5.2 billion. Bajaj, 81, is the chairman of the world’s largest maker of three-wheeled motorcycles. He attended Harvard Business School and also owns stakes in an investment company and an insurance firm. His grandfather, Jamnalal Bajaj, an Indian independence fighter and Mahatma Gandhi confidant, founded the group in 1926.
Rank 18: Rahul Bajaj
Company No. 1: Bajaj Finance Ltd.
Stake Value: $586,320,006
Percent of Total Net Worth: 12.4%
Location: Pune, India
Segment: Auto financing
Company No. 2: Bajaj Auto Ltd.
Stake Value: $1,208,532,867
Percent of Total Net Worth: 25.5%
Total Wealth: $5.2 billion
Location: Pune, India
Segment: Motorbikes and parts
Siblings Susanne Klatten and Stefan Quandt own almost half of Bayerische Motoren Werke AG. The billionaires are descendants of Guenther Quandt, who built a German industrial empire. In the years since, the family has established stakes in both Daimler-Benz AG and BMW.
Today, Klatten is Germany’s second-richest person, worth $18.6 billion, with interests in chemicals and carbon production, according to the Bloomberg Billionaires Index. Quandt, who owns part of a logistics company and a homeopathic medicine company, has a net worth of $15.5 billion. Both are members of BMW’s supervisory board, making them the richest related pair deriving wealth from the automotive industry.
All told, the 25 richest families in the world now control almost $1.4 trillion in wealth, up 24% from last year.
The methodology behind wealth analysis can be challenging. In fortunes backed by decades of accumulated assets and dividends, the true extent of an individual’s or family’s holdings is often obscured. Most in this tax bracket are not thrilled to have their names, assets, shares, and interests published by a global news organization. Automotive wealth also tends to be a family affair. While individual members of these dynasties may not make the list, a clan’s overall wealth may be vast. (See: the Ford, Porsche, and Pieech families.) So we followed the same criteria applied to Bloomberg’s Billionaire Index.