SP Hinduja is an Indian-born British billionaire businessman who is known as the second richest person in the United Kingdom along with his brother Gopichand Hinduja. He is popular for being in the list of top billionaires and being a neighbor of Queen Elizabeth.
Contents
Wiki/Biography
Srichand Parmanand Hinduja was born on Thursday, 28 November 1935 (age 86 years; as in 2021) in Karachi, Sindh, British India (now Pakistan). Their zodiac sign is Sagittarius. After completing his education, SP Hinduja joined his father’s textile and trading business at the age of eighteen and held offices in Mumbai, India and Tehran, Iran.
Physical Appearance
Height (Approx): 5′ 5″
Hair Colour: Gray (Half Bald)
Eye colour: black
Family
parents and siblings
SP Hinduja’s father’s name is Parmanand Deepchand Hinduja and mother’s name is Jamuna Parmanand Hinduja. He has three brothers – Gopichand Hinduja, Prakash Hinduja and Ashok Hinduja.
wife and children
SP Hinduja is married to Madhu Hinduja and has two daughters – Shanu and Vinoo Srichand Hinduja. He also had a son, Dharam Hinduja, who committed suicide by setting himself on fire.
religious/theological views
SP Hinduja belongs to a Sindhi-Hindu family. He is a religious person and spiritual person.
livelihood
SP Hinduja was born in Karachi, British India, into a business family. In 1914, his father moved to Bombay to learn the tricks of business and in 1919, his father established his first international office in Iran. One of the reasons for the early success of the Hinduja empire was when SP Hinduja got the international distribution rights for the Bollywood blockbuster film ‘Sangam’ (1964). He distributed the film throughout the Middle-Eastern markets which helped him earn millions of dollars. In the 1960s, Hinduja was working in Iran when Indira Gandhi had a disagreement with the Shah of Iran over the rising price of Iranian oil. In response, Shah of Iran said that India should consider increasing the number of goods exported to Iran to compensate for its losses. During this time, Hinduja took advantage of the opportunity and won the biggest deal of his business, which was the Kudremukh iron ore project and received about $10 million in commission. He also formed two trading companies – Sangam Trading and Ashoka Trading, which handled the import of cars of famous German brands, American aircraft, several computer businesses, a trading company, an American airline and many other products. Hinduja also ventured into the field of selling food items like onions, potatoes and iron ore from India to Iran. In the 1980s, the Hinduja Group made the biggest trade of its life by acquiring a majority stake in the Indian truck and bus manufacturer Ashok Leyland. Along with this, he took control of Gulf Oil International Company from Chevron Corporation (energy industry company) to supply oil and lubricants to various parts of the world including India.
Old picture of the Hinduja brothers (standing with the car) after the deal with Ashok Leyland.
In the 1990s, Hinduja ventured into the banking sector by setting up banks in Switzerland and India, which helped him find a place alongside India’s most famous business tycoons such as the Tatas, Birlas, Ambani, etc. In 1993, SP Hinduja stepped in. In the field of banking, he laid the foundation of IndusInd Bank, then established IndusInd Media and Communications Limited in 1994. The then Finance Minister Manmohan Singh was invited to the inauguration ceremony of the bank.
SP Hinduja (right) at the inauguration of IndusInd Bank with then Finance Minister Manmohan Singh in 1994
In 1994, SP Hinduja established the only Indian-owned Swiss bank, SP Hinduja Banqui Privé, headquartered in Geneva, Switzerland. Over the years, the bank has opened branches in Zurich, London and Dubai. The bank provides investment advisory and wealth management services to large business and entrepreneurial clients. In 2012, the Hinduja Group partnered with JPMorgan’s private equity director, Gauhouse Mohammad Asif, and former United States Treasury Secretary, Hank Paulson, to acquire US-based firm Houghton International and completed the deal for $1.045 billion. . SP Hinduja and his daughter Vinoo Hinduja are responsible for the care of PD Hinduja Hospital and Medical Research Centre, Mumbai. While managing so many businesses, the Hinduja Group started a non-profit organization called Hinduja Foundation which helps poor people by making quality medical facilities, education and other services accessible. The organization is funded by the Hinduja Group and family. They have been looking after the foundation for the last 48 years, and have opened more branches in the UK and USA.
net worth
According to Forbes magazine, the total wealth of Hinduja brothers is $14.7 billion.
Facts/General Knowledge
- In May 1992, SP Hinduja’s son, Dharam Hinduja, and his wife went to a hotel in Mauritius where, as part of an agreement, they both set themselves on fire and tried to commit suicide. The couple was taken to the hospital where Dharam Hinduja died due to 70% burns, however, his wife survived the fire. Later, reports stated that Dharam had married a Roman Catholic Australian woman named Ninochka Sargon in January 1992.
- In 2006, the Hinduja brothers spent $58 million on Carlton House, a 25-bedroom mansion on London’s Terrace Street, down the mall from Buckingham Palace. The family spent five years renovating the house which is now used as a guest house and party house for the family. In October 2013, Forbes Life magazine valued the home at $500 million, making it the third most expensive private home in the world.
- SP Hinduja is a strict vegetarian and non-drinker. He likes to travel with his chef whenever he travels abroad. He even brings his own vegetarian food whenever he is invited to a banquet at Buckingham Palace.
- During an interview with Times of India, SP Hinduja talked about how he follows certain rules when it comes to his privacy. He talked about how a guest who is not part of the immediate family is sent to their guest house or a fancy hotel after dinner.
- The family has a tradition of family retreats where all the brothers and their families come to India every year. They practice this to keep their bond strong and bring their families closer. SP Hinduja started the journey and once he decided to go to Rishikesh on a family trip instead of Mumbai.
- In 2010, a UK university offered SP Hinduja an honorary doctorate. However, SP Hinduja rejected the offer saying that he would accept the degree only if the university awarded the same degree to all the brothers. He said-
I told him that I would consider it only when all four brothers get it. Everyone has contributed to the business according to their age. I don’t want any fight in the family.”
- While the brothers are working for the same company, they live in different parts of the world as SP Hinduja and Gopichand Hinduja live in London, Prakash Hinduja lives in Monaco and Ashok Hinduja lives in Mumbai.
- All Hinduja brothers are very spiritual by nature and they believe in the ideology – ‘Service with devotion.’
- In May 2019, the Hinduja brothers topped the Sunday Times Rich People’s List with a net worth of $27.7 billion. In 2021, he was ranked 133rd on the Forbes ‘World’s Richest People’ list with a net worth of $14.9 billion.
- Hinduja Group operates from 48 different countries across various sectors like automobile, telecom, healthcare, defence, financial services etc. and provides employment to around 150,000 people.
- Ever since the Hinduja brothers started working in business, they have been following the ideologies of their father. Parmanand Hinduja treated his staff like a big family and whenever he sat down to eat, he asked his staff to sit with him while eating. Over the years, the brothers have worked together to maintain peace and harmony in the business and often have differing opinions on a decision, but there are no differences of opinion.
- Despite living in different countries with different time zones, the Hinduja brothers manage to talk to each other on a daily basis. According to SP Hinduja, many of his business deals and decisions have been taken over a phone call.
- During an interview, SP Hinduja narrated how his father used to bribe him and his brothers to work with him for some money during summer holidays. Furthermore, when he was asked how he ensures that he keeps learning new things in the business, he replied-
I often feed the squirrels during my walks in St. James’s Park and I always notice that if you throw two peanuts at them, they will always only take one and save the other. They finish the first one, and then come back for the second one.”
- SP Hinduja and his brothers are big believers in philanthropy. In an interview, SP Hinduja said-
You work to earn, and earn to give. But I don’t believe in donating to charity. “Always link philanthropy to economic development.”
- In an interview with The Economic Times, SP Hinduja shared his views on politics and said-
We are not supporters or opponents of any government, be it Congress or BJP, Labor Party or Tory. We do not do anything political, we only do what is in the interest of the motherland. This is our core principle on which we do good business. Even in the Islamic world we are respected despite our name Hinduja which may be misleading. We are not the product of religion. We are products of nature. “Yet I do not criticize any religion.”
- SP Hinduja follows a strict routine to maintain his work-life balance. While talking to a magazine, while explaining his daily routine, he said-
I sleep four hours between midnight and 4 am. When I wake up, I meditate for an hour, then go for a walk for an hour. Morning is the best time to be creative and innovative. I refuse to go to parties until late; “People are fighting against what is natural for the body.”
- When a journalist asked about his government connections, SP Hinduja talked about an incident in 1998, when Brajesh Mishra, principal secretary to BJP leader Atal Bihari Vajpayee, was in London on an official visit to meet the leader of the Labor government. Were going. Explaining the incident further he said-
When he came I got a call and asked me if I was on good terms with the Labor government. I said we have a good relationship, Labor or Tory, and I will do my best. Within two hours I took him to meet Blair who was going to Manchester to meet Bill Clinton. But we don’t do this for publicity.”
- The Hinduja family is known for their Diwali parties and they have been hosting these parties since 1980. The party’s guest list includes everyone from the United Kingdom’s richest people to the Foreign Secretary and current UK Prime Minister Boris Johnson. Parties are held at Carlton House, his home on Terrace Street.
Nita and Mukesh Ambani at Hinduja’s Diwali party in London
- In 2020, when the entire world was suffering from the widespread COVID-19 pandemic, the Hinduja brothers continued the age-old tradition of hosting a Diwali party. However, this time the entire program was done through virtual meeting and the program was inaugurated by Prince Charles, who started the program by lighting a candle. On this occasion, many other important people of India like the Vice President of India, the Governor of Maharashtra and the Indian High Commissioner to Britain sent their good wishes to the Hinduja family. The Hinduja brothers also arranged for several entertainment performances by artists like Anoop Jalota, Sonu Nigam, Shankar Mahadevan, Rahat Fateh Ali Khan and many others were invited to perform at the event.
Prince Charles lighting candles for Hinduja’s online Diwali party
Categories: Biography
Source: vcmp.edu.vn