Gautam Vijaypat Singhania, Raymond Group Chairman & Managing Director, made the headlines recently for paying a huge penalty price of 328 crore rupees to settle a Directorate of Revenue Intelligence (DRI) case involving imported cars. This made people curiously want to know his net worth and details about the luxurious cars he owns. Here's everything you need to know about the businessman who heads the world's largest company producing suiting fabric.
From his lavish lifestyle to the controversies he drove into, take a look at the ups and downs while taking a glimpse at the life of the industrialist.
Gautam Singhania's Lifestyle
Gautam Singhania's expensive possessions will remind you of the popular Bollywood dialogue: "Aaj mere paas paisa hai, bangla hai, gaadi hai..." His reported net worth runs more than a billion US dollars and includes a 1000 crore yacht, a teak boat that famous actress Liz Hurley allegedly partied on, a lavish residence with a helipad, an exclusive museum, and five-level parking cars to host his flashy car collection, two privately-owned helicopters.
The businessman's personal jet called a "Bombardier Challenger 600" is said to be valued at Rs 150 crore. Notably, he happens to be one of India's wealthiest persons alive and has the second tallest home in India next to Mukesh Ambani's Antilia.
Apart from enjoying water sports, his Instagram posts show him as an adventure lover firing the AK47 machine gun during a visit to Russia. Of course, he is also often seen gearing up on racing tracks, participating at vintage car show, and more to live his life in the coolest way possible.
Gautam Singhania Controversies
Singhania has been involved in several controversies and legal disputes during his business years including the divorce-assault case concerning his estranged wife Nawaz Modi, the JK House Dispute, and the shareholding issue of Raymond.
In late 2023, the Singhania couple announced their separation after 32 years of marriage and the lady demanded 75% of his net worth in their divorce settlement, closely amounting to $1.4 billion 116.32 crore INR. The couple had dated for some years before getting into the wedding knot. However, the former partner accused Singhania of domestic abuse.
Raymond Group CMD's family villa at Mumbai's Breach Candy has been listed in several controversies. In 2016, BMC pointed out the 37-storey JK House of Coastal Regulation Zone violation. A few years before that, the body stalled the work at the site looking into its built-up area going beyond the sanctioned limits. Meanwhile, the space also drew eyeballs concerning the father-son duo claiming possession of the construction.
Recent reports alert investors about the pressure on Raymond's stock amidst the family feud which has fallen more than 5% since the businessman's divorce from his better half. Also, in 2017, the company encountered a huge mess resulting in a controversy for not informing their shareholders about the ambitious reconstruction of Raymond House in South Mumbai.
Edited and published by Swarna Srikanth
