Renuka Jagtiani, the chairperson of Dubai-based retailing giant Landmark Group, has entered the Forbes list of 100 richest Indians for the first time. Ranked 44, her estimated net worth is $4.8 billion (roughly ₹39,921 crore). Who is Renuka Jagtiani?
She is the chairperson of Landmark Group, a conglomerate founded in Dubai by her late husband Micky Jagtiani.
Before taking over the firm, she had been leading the multinational company’s corporate and expansion strategies.
Her late husband started the company in the 1990s.
Decades before Micky became a billionaire, he used to drive a cab in London. In 1973, following the deaths of his parents and brother in quick succession, he moved to Bahrain. He started selling baby products from his deceased brother’s toy shop. He ran the shop successfully for 10 years. He later opened six more outlets.
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He shifted to Dubai after the Gulf war and established Landmark Group. He forayed into businesses like fashion, electronics, furniture and budget hotels in the Middle East and Southeast Asia. The group currently runs over 2200 stores in 21 countries.
The company Renuka chairs is best known for its retail brands in India — Max, Home Centre and Babyshop.
According to Forbes, Renuka Jagtiani joined Landmark in 1993. In 1999, she was instrumental in setting up the company’s India business, which currently boasts over 900 stores.
She inherited a $4.8 billion fortune from her late husband. Their children — Aarti, Nisha and Rahul — are group directors.
Per the Forbes list, Mukesh Ambani is the richest Indian with a net worth of over 92 billion dollars. Gautam Adani, the richest Indian last year, slipped to the second spot.
The top 10 richest in India are:
Mukesh Ambani; US$92 billion
Gautam Adani; $68 billion
Shiv Nadar: $29.3 billion
Savitri Jindal; $24 billion
Radhakishan Damani; $23 billion
Cyrus Poonawalla; $20.7 billion
Hinduja Family; $20 billion
Dilip Shanghvi; $19 billion
Kumar Birla; $17.5 billion
Shapoor Mistry & Family; $16.9 billion