S. P. Hinduja Explained

Birth Name:Srichand Parmanand Hinduja
Birth Date:28 November 1935
Birth Place:Karachi, Sindh Province, British India
Death Place:London, England
Known For:Chairman, Hinduja Group
Children:3
Father:Parmanand Hinduja

Srichand Parmanand Hinduja (28 November 1935 – 17 May 2023) was an Indian-born British billionaire businessman. He was the primary shareholder and chairman of Hinduja Group of companies, together with his brother Gopichand.

Early life

Srichand Parmanand Hinduja was born on 28 November 1935 in Karachi, Sindh province, British India. He was the second son of Parmanand Deepchand Hinduja and Jamuna Parmanand Hinduja.[1] [2] He was educated at Davar's College of Commerce and R. D. National College, both in Mumbai.

Business career

Hinduja began his career in his father's textile and trading businesses in Bombay, India, and Tehran, Iran.[3] His successful businesses in his early career included the sale of food commodities (onions and potatoes) and iron ore from India to Iran.[4]

With the acquisition of Ashok Leyland (from British Leyland) and Gulf Oil (from Chevron) in the 1980s and the establishment of banks in Switzerland and India in the 1990s, Hinduja became one of India's best-known business tycoons alongside such names as Tata, Birla, and Ambani.[5] In 2012, the Group acquired the US firm Houghton International, the world's largest metal fluids manufacturer, for $1.045 billion, forming a consortium with the help of Ghouse Mohammed Asif, (Director of Private Equity of JP Morgan) and Henry Paulson, former United States Secretary of the Treasury and formerly of Goldman Sachs.[6]

Hinduja's business approach was conservative and opportunistic, investing in diversified business sectors ranging from oil and gas, banking and finance, and IT to real estate, energy and chemicals, power, and media and entertainment.[7] [8]

Wealth

From the 1990s, he was consistently ranked among the UK and Asia's wealthiest people. The October 2013 issue of Forbes Life estimated the Hinduja home in London's Carlton House Terrace down the Mall from Buckingham Palace to be worth $500 million, making it the third most expensive private home in the world.[9] [10]

As of March 2019, Forbes ranked SP and GP Hinduja as the 65th richest in the world, with a net worth of $16.9 billion, with Forbes India estimating his net worth at $18 billion. This made him the 4th wealthiest Indian-origin business magnate in the world.[11] [12]

In 2022, Hinduja was the UK's wealthiest person, with an estimated wealth of £28.5 billion according to the Sunday Times Rich List.[13] [14] Based on the rich list compiled by Asian Media & Marketing Group, Hinduja's wealth is estimated at £25.2 billion (US$31.7 billion).[15]

Personal life

Alongside his younger brothers Gopichand, Prakash and Ashok, Hinduja are known as the patriarch of India's "fab four".[16]

Hinduja was married to Madhu Srichand Hinduja, and they had two daughters.[16] Hinduja is a Sindhi Hindu.[17]

A daughter, Vinoo Srichand Hinduja, is on the board of management for the P. D. Hinduja National Hospital and Medical Research Centre in Mumbai.[18] [19]

On 19 May 1992, Dharam Hinduja, his youngest son,[20] died a few days after receiving 70% burns from self-immolation in a hotel room in Mauritius, as part of a suicide pact with his wife, who survived. He had secretly married Ninotchka Sargon, a Roman Catholic Australian, at Chelsea Register Office in January that year.[21] [22]

In 2001, Hinduja was involved in the UK's "cash-for-passports" scandal, where he donated money for the Millennium Dome while applying for British citizenship, leading to the resignation of Peter Mandelson.[23] [24] [25] [26]

Hinduja was teetotal and a strict vegetarian.[27] He was known to bring his own vegetarian food to the Queen's banquets at Buckingham Palace.[28]

His wife, Madhu, died in January 2023.[29] Hinduja died of complications of Lewy body dementia in London, on 17 May 2023, at age 87.[30] [31] [32] [33]

Notes and References

  1. News: SP's USP: Family First, Biz Later . https://archive.today/20130103171202/http://articles.timesofindia.indiatimes.com/2011-02-12/india-business/28545154_1_hinduja-group-srichand-hinduja-business-families . dead . 3 January 2013 . 12 February 2011 . . 21 August 2012.
  2. Book: Europa Publications. The International Who's Who 2004. 22 May 2016. 2003. Psychology Press. 978-1-85743-217-6. 733.
  3. Web site: The world is their bazaar . Pranaygupte.com . 28 December 1987 . 21 August 2012.
  4. Book: The New Maharajahs: The Commercial Princes of India, Pakistan and Bangladesh – Claudia Cragg – Google Books . 21 August 2012. 9780712677615 . 1996 . Cragg . Claudia . Claudia Cragg.
  5. Web site: Hinduja to launch $500-mn infra fund . Business-standard.com . 18 April 2012 . 21 August 2012.
  6. News: Hindujas' Gulf Oil agrees $1bn US deal . https://ghostarchive.org/archive/vTwC0 . 4 March 2023 . subscription . live . 7 November 2012 . Financial Times . 20 June 2015 . James Crabtree.
  7. News: Hinduja group forms power sector JV with Germany's STEAG – The Times of India . Timesofindia.indiatimes.com . 28 March 2012 . 21 August 2012.
  8. Web site: Hindujas to foray into India's real estate sector . The Asian Age . 22 July 2012 . 21 August 2012.
  9. Web site: Carlton House Terrace: The Hindujas' New $500 Million Real Estate Masterpiece . . 8 October 2013 . 22 May 2016.
  10. Web site: Villa Leopolda, Villefranche-sur-mer, France – In Photos: The World's Most Expensive Billionaire Homes . . 1 January 1970 . 22 May 2016.
  11. Web site: India's 100 Richest People List . . 1 January 1970 . 22 May 2016.
  12. Web site: Forbes profile: Hinduja family . . 28 June 2021.
  13. Web site: The Rich List . https://web.archive.org/web/20101231113409/http://www.thesundaytimes.co.uk/sto/public/richlist/ . dead . 31 December 2010 . The Sunday Times . 22 May 2016.
  14. Web site: The Sunday Times Rich List 2022. 17 May 2023. hetimes.co.uk.
  15. News: Mittal loses top spot in rich list . https://ghostarchive.org/archive/qe0Lz . 4 March 2023 . subscription . live . Business & Economy . 22 March 2013 . The Financial Times Ltd. . 20 June 2015 . Andrew Bounds.
  16. News: SP's USP: Family First, Biz Later – The Times of India . Timesofindia.indiatimes.com . 12 February 2011 . 21 August 2012.
  17. News: Most billionaires in India today once resided in Pakistan's Sindh. Daily Times. Waseem. Palijo. 8 January 2019. 7 May 2020. 7 May 2020. https://web.archive.org/web/20200507172647/https://dailytimes.com.pk/341601/most-billionaires-in-india-today-once-resided-in-pakistans-sindh/.
  18. Web site: Live To Give Hope . Hindujahospital.com . 1 November 1932 . 22 May 2016.
  19. Web site: Newsletter . Hinduja Group . 22 May 2016.
  20. News: Hopkins . Nick . Meet the Hindujas . 20 May 2023 . . 8 April 1999.
  21. Web site: Millionaire's son died in a suicide pact with wife. 22 October 1992. The Independent. 22 May 2016.
  22. Web site: M . Rahman . Amit . Roy . Hinduja heir Dharam fails to cope with family pressures against his wife, ends life. . 15 June 1992 . 22 May 2016.
  23. News: Hindujas' British passports affair . 28 November 2021 . . 25 February 2001.
  24. News: UK minister quits over Hinduja scandal . 20 May 2023 . CNN.com . 25 January 2001.
  25. News: Mandelson resigns over passport deception . 20 May 2023 . The Guardian . 1 February 2001.
  26. News: Miller . Hugo . Jonathan . Browning . Billionaire Family Feud Puts a Century-Old Business Empire in Jeopardy . 28 November 2021 . . 23 November 2021.
  27. News: Big brother's family values as the Boss. 24 January 2001. The Guardian. 20 May 2023.
  28. News: What we are witnessing is the trailer to the real movie. https://archive.today/20130203165508/http://www.telegraphindia.com/1090208/jsp/7days/story_10502985.jsp. dead. 3 February 2013. Telegraphindia.com. 8 February 2009 . 21 August 2012. Calcutta, India. Srichand . Hinduja.
  29. Web site: Wife of SP Hinduja dies in London . 6 January 2023 .
  30. Web site: Hinduja Group chairman SP Hinduja dies in London at 87. 17 May 2023. The Economic Times.
  31. News: Hinduja Group chairman SP Hinduja passes away in London at 87 . 17 May 2023 . Business Today . 17 May 2023.
  32. News: SP Hinduja obituary . 17 May 2023 . The Times . 17 May 2023.
  33. Web site: Indian-origin UK billionaire SP Hinduja dead at 87 . 17 May 2023 .

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