Meet Abhay Firodia, billionaire with Rs 24,660 crore net worth, know about his business empire (file photo: Force Motors)
There are several companies in India which were started as long as 50 years ago but are still present in the market with a successful business. Such companies were established by the first generation of a family and are now run by their second and third generation. One such company is Force Motors, which is headed by Abhay Firodia, a billionaire businessman. In this article, we will tell you about Abhay Firodia, the chairman of Force Motors, which also produces engines for Mercedes Benz, BMW and Rolls Royce.
Firodia is an Indian billionaire businessman and the chairman of Force Motors, India’s largest van maker by volume. The 78-year-old is born into a Jain family. He joined the company in 1975 and currently serves as the chairman of Force Motors and various other group companies. He was the managing director of the firm till 2009 when he decided to hand over the reign to his son Prasan. His son has been running the business since.
Abhay Firodia’s net worth
According to Forbes, Firodia has a net worth of USD 3 billion (around Rs 24,660 crore) as of May 14, 2023. He is currently on the 1104th position in the Billionaires list of 2023, as per the magazine. He was ranked 67th on India’s Richest in 2022.
The bulk of his wealth comes from stakes he still holds in various Bajaj companies including Bajaj Auto, according to Forbes. The market capitalisation of Force Motors is Rs 1,800 crore as of May 14, 2023. The company is the maker of vans, pickup trucks, SUVs and tractors. It was formerly known as Bajaj Tempo as it was a joint venture with the Bajaj clan.
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According to reports, he completed his schooling in Gwalior and graduated from Fergusson College in Pune he a BE (Hons.) in Economics. He presently lives in Pune. He has four children. Force Motors was founded by his late father Navalmal Firodia in 1958. According to reports, Firodia is building a museum which will highlight the culture, history and philosophy of the Jain community in India.
Source: Latest News by www.dnaindia.com.
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