Meet man, recipient of Padma Bhushan, was once richer than Mukesh Ambani, Gautam Adani, Ratan Tata, now stays in...

The rise of industrialists like Mukesh Ambani, Gautam Adani, and Ratan Tata has been well-documented, but one man, who at one point surpassed them all in wealth, now lives in a rented apartment. Vijaypat Singhania, the former chairman of Raymond Group, was once among India’s richest and most influential businessmen. However, his life took an unexpected turn, leading to the loss of the wealth he once controlled.

Born into the prestigious Singhania family, Vijaypat led Raymond Group from 1980 to 2000. Under his leadership, the company became a global powerhouse in the textile and fashion industry. His journey faced challenges, particularly within his own family.

How Vijaypat Singhania's life changed?

Singhania faced several internal conflicts after his uncle’s passed away, as his cousins sought control of the company. However, the most bitter dispute came later when he decided to divide his business between his two sons, Madhupati and Gautam Singhania.

In 2015, Vijaypat transferred his 37% stake in Raymond to his younger son, Gautam, while Madhupati moved to Singapore. However, their relationship soured, leading to Vijaypat's eviction from the family home and financial hardship.

Vijaypat Singhania's awards and achievements

Beyond his business achievements, Singhania is a celebrated aviator, inspired by JRD Tata. He was awarded India’s third-highest civilian honor, the Padma Bhushan, in 2006, and was made an Honorary Air Commodore by the Indian Air Force in 1994.

Vijaypat Singhania's hardship

During an interview, the 86-year-old revealed, that he regrets trusting his son and giving away all his wealth. He said that decision cost him not just money, but also family and peace. Today, he finds himself completely alone.

However, he still sees himself as a fighter. He says, “I’ve seen everything in life…. the top and the bottom. What I’ve learned, no business school can teach.”

The former chairman of Raymond Group Vijaypat Singhania now lives a more modest life, while his son, Gautam Singhania, enjoys an ultra-luxurious lifestyle. Gautam owns JK House, a towering mansion valued at Rs. 6,000 crore (USD 81 million), situated on Mumbai’s Altamount Road, adjacent to Mukesh Ambani’s Antilia—one of the world’s most expensive residences.

Despite the various challenges and changes in his life, Vijaypat Singhania’s legacy as the individual who transformed Raymond into a household name remains significant.