Meet man who started business at 37, now owns 30 companies, doesn't keep smartphone, donated Rs 6200 crore to...

R Thyagarajan, the co-founder of the Shriram Group, is a prominent figure in India's lending and insurance sectors. Shriram Group is a major financial services conglomerate based in Chennai. Established in 1974 alongside AVS Raja and T Jayaraman, the Shriram Group initially focused on chit funds before evolving into a significant player in the lending industry.

Thyagarajan has successfully built the Shriram Group into a powerhouse with a valuation of Rs 87,000 crore by providing loans to low-income borrowers who often lack access to traditional banking services. Unlike many successful entrepreneurs, R. Thyagarajan leads a modest lifestyle. He has donated a substantial portion of his wealth, driving a car valued at Rs 6 lakh and living in a simple home.

In an interview with Bloomberg, he explained that his motivation for starting the company was to demonstrate that lending to individuals without credit histories could be safe and profitable.

Currently, the Shriram Group employs around 100,000 people and is recognized for its pioneering efforts in extending credit to underserved sectors, particularly for financing vehicles like trucks and tractors.
Born into a prosperous farming family in Tamil Nadu, R Thyagarajan graduated with a degree in mathematics and later earned his master's from the Indian Statistical Institute in Kolkata. He began his career at New India Assurance Company in 1961 and spent two decades working in various finance roles before venturing into entrepreneurship at the age of 37. Today, the Shriram Group encompasses 30 companies across various financial sectors and currently serves more than 23 million customers across its diverse range of financial services.

Thyagarajan has contributed over Rs 6,210 crore to charitable causes and has transferred his shareholdings to an employee trust. He believes in maintaining focus and simplicity, choosing not to own a mobile phone as he views it as a distraction.