- 2019 - Cyrus S Poonawalla of Serum institute replaced Dilip Shanghvi to become the new richest Indian pharma billionaire with net asset worth of ₹88,800 Crores. Cyrus S Poonawalla is 7th in the 10 richest Indians per Hurun's list 2019.
- 2019 - Dilip Shanghvi reached the 10th position in India's richest tycoons list released by Hurun in 2019 from 3rd position in 2013.
Shanghvi with an increase of 50% in wealth that is near about $4.7 billion jumped to the 3rd spot overtaking IT czar Azim Premji (net wealth 13.8 billion) with an estimated wealth of $13.9 billion.
I'm not going to discuss this Forbes list anymore, although at the later part of the article I will give the list of the Indians who got listed as the top 10 richest/wealthiest Indians by Forbes.
Dilip Shanghvi 58, was born in Mumbai, India. Sanghvi did his schooling from J.J Ajmera High School, Bhawanipur, Kolkata. Sanghvi then completed his graduation from Calcutta University in Bachelor of Commerce. Dilip Sanghvi is now a father of two children. Sanghvi had started a pharmaceutical company named Sun Pharmaceutical Industries Limited in the year 1983. On the first year itself, the company has been able to make a total sales of around 1.2 million rupees. Sanghvi in an interview said, that it took 27 years to level the mark $ 1 billion, while it took less than 3 years for the next billion dollars to be added in the revenues.
While the company is India based, but most of its sales (around 70%) comes from the US. In the US Sun Pharma has the largest share of generic medicine sales among the other Indian generic medicine companies there. Sun Pharma is also the 5th largest Indian company in the US.
Dilip Shanghvi is also the chairman and managing director of the first pure R&D company SPARC (Sun Pharmaceutical Advanced research company ltd.) which got listed in Indian stock exchange. Shanghvi had started his pharmaceutical company 'Sun Pharmaceutical' as a maker of psychiatric drugs 30 years ago. Sanghvi acquired many small and big companies in the process and grew huge, this year July Sanghvi acquired an Israeli generic firm Taro Pharmaceuticals. Sanghvi's younger brother Jayant Sanghvi based in Vadodara deals in real estate and runs his business under the name of Style and Pratham Enterprises.
Dilip Shanghvi's son Aalok Sanghvi heads international marketing at Sun and has also co-founded PV Powertech, a maker of solar panels.
Top 10 richest Indians 2013 Forbes richest Indian list#1 Mukesh Ambani US $21 billion
#2 LN Mittal US $ 16 billion
#3 Dilip Shanghvi US $ 13.9 billion
#4 Azim Premji US $ 13.8 billion
#5 Pallonji Mistry US $12.5 billion
#6 Hinduja brothers US $9 billion
#7 Shiv Nadar US $8.6 billion
#8 Adi Godrej US $8.3 billion
#9 Kumar Birla US $7.6 billion
#10 Sunil Mittal US $6.6 billion