INDIA LOST ITS OLDEST MILLIONAIRE
Ex-chairman of the Mahindra cum India’s oldest millionaire, Keshub Mahindra dies at 99 on April 12, 2023. In a recent tweet, Pawan Goenka, chairman of the Indian National Space Promotion and Authorization Centre (INSPACe), confirmed the news.
The tweet by Goenka read “The industrial world has lost one of the tallest personalities today. Keshub Mahindra has no match” He also mentioned how she was always inspired by the late industrialist and how much he looked forward to meeting the greatest industrialist in India.
According to Forbes, Mahindra has a net worth of $1.2 billion. On August 9, 2012, he stepped down as Chairman of the Mahindra Group, and the reins were handed over to his nephew Anand Mahindra.
In the year 1947, Mahindra joined his father’s company Mahindra & Mahindra Group, at that time the company only focused on producing utility vehicles and their sale. From 1963 to 2012, he presided over the Mumbai-listed conglomerate as its chairman, which means he was in the position of chairman for almost 48 years.
The Mahindra & Mahindra group which was initially just an automobile manufacturer was expanded to the IT, real estate, hospitality, and financial service segments by Keshub Mahindra during his 48 years of chairmanship.
It was under Mr. Keshub’s guidance that Mahindra & Mahindra Group spread its wings and went from a mere manufacturing company to a service provider. The great industrialist graduated from Wharton, University of Pennsylvania.
He was not only an industrialist, but he also worked for several Boards and Councils including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC, and ICICI, and was also the founder Chairman of HUDCO Ltd, vice chairman of HDFC. Mr. Keshub’s career had no limit and he flourished in the industrial world.
In an interview when asked whom he’d look up to as a mentor or role model, Mr. Keshub without hesitation stated that his role model in business is J.R.D. Tata and from the political world mentioned Nanaji Deshmukh. He also stated that he admires them for their passion and dedication in providing support to talented but unfortunate people.
The millionaire during the period 2004-2010 was a member of the Prime Minister’s Council and served for the Trade & Industry in New Delhi. For the contributions made by Mr. Keshub to the industry, the French government honored him with the Chevalier de l’Ordre National de la Legion d’honneur.
The industrial world is grieving the loss of its greatest industrialist. Heaven has welcomed its new member so let us hope the elite’s soul rests in peace.