Nation's Oldest Billionaire: A 99-Year-Old Man Who Died Just Days After Re-Entering Forbes List Of Richest Indians, Had Net Worth Rs 10,000 Crore

Keshub Mahindra Success Story: The former chairman of the Mahindra Group was Keshub Mahindra. The visionary leader was a well-known businessperson, commercial pioneer, philanthropist, and key factor in the development of Indian commerce. He made important economic contributions to India. He was well regarded for his ability to lead, his moral character, and his dedication to social duty. On April 12, 2023, Mahindra passed away, leaving behind a legacy that will live on for a long time. The awful news was announced just a few days after he was listed again on Forbes' list of the richest billionaires in India for 2023. Keshub Mahindra has a net worth of more than Rs 10,000 crore, making him the oldest billionaire in India, according to the most recent Forbes list of the world's wealthiest people.

From 1963 through 2012, he served as the Mahindra & Mahindra group's chairman. The Mahindra Group expanded from being a vehicle manufacturer to other industries like IT, real estate, financial services, and hospitality over the 48 years he served as chairman. After his retirement, he designated his nephew, Anand Mahindra, as his replacement. From an Indian manufacturer of Willys Jeeps to a multifaceted multinational, Mahindra revolutionized the business.

Keshub Mahindra: Background

On October 9, 1923, Keshub Mahindra was born in Shimla. He was one of the Mahindra Group's founders, Jagdish Chandra Mahindra's, sons. In 1947, he graduated with a Bachelor of Science from the University of Pennsylvania's Wharton School. He graduated from Harvard Business School with a master's in business administration. After completing his schooling, Mahindra began working for the Mahindra Group in 1947 as a management trainee. The Mahindra Group diversified its business operations under his direction. In a number of industries, such as automotive, aerospace, and defense, the Mahindra Group has emerged as a major force.

As Mahindra Group's Chairman

The businessman worked his way up the corporate ladder, assumed the position of Chairman of the company in 1963, and held it until his retirement from the company in 2012. Any business leader should be quite proud of themselves if they have achieved the lofty goal of moving up the organizational ladder from a lower position. Throughout his life, he served as an example of the importance of putting in effort, being devoted, and being committed to excellence. Although such a journey is difficult, the benefits are priceless. In addition to inspiring staff members to pursue greatness and realize their full potential, it also supported a culture of progress and meritocracy.

Man Behind Group's Immense Success

The Mahindra Group's steady expansion and immense success were greatly attributed to Keshub Mahindra. When he served as chairperson, the business grew into new markets like aerospace, defense, hospitality, and real estate. In 2011, the group acquired the South Korean automaker SsangYong Motor as a result of its leadership in the group's efforts to enter the global automobile market. He developed businesses and entered new markets, such as hospitality and real estate. He oversaw the team's initiatives to dominate the global automobile market. He was crucial in keeping the founders legacy alive.

A Successful Successor

After he retired in August 2012, his nephew Anand Mahindra succeeded him as chairman of the board and managing director of the Mahindra Group. Anand Mahindra credited Keshub Mahindra as an inspiration and said that the Mahindra Group's turnaround was made possible by his business savvy. "For the Mahindra Group as a whole and for me personally, Keshub Mahindra was and will always be an inspiration. He was a man of moral beliefs who led by example in protecting the founders' legacy, ensuring that the company would always uphold high standards of ethics and corporate responsibility."

The housing and urban development industries have benefited the most from the work of India's oldest billionaire. He served as vice chairman of Housing Development Finance Corporation, Ltd. He formed HUDCO (Housing and Urban Development Corporation Limited). He also served as a director of Bombay Dyeing & Manufacturing Co. Ltd. and Bombay Burmah Trading Corporation Limited, as well as chairman of Mahindra Ugine Steel Co. Mahindra & Mahindra became among the most reputable and prosperous businesses in India as a result of his dedication to ethics, values, and strong corporate governance.