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The name of his company is ‘Motherson’ because Vivek Sehgal founded the company with his late mother Shrimati Swaran Lata Sehgal in 1975
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What started as a silver trading company has now emerged as a conglomerate with a presence in the auto industry
The richest Indian man living in Australia, Vivek Chaand Sehgal, left his father’s business and only earned Rs 2500 per month, but now runs a Rs 86,000 crore business empire. The chairman and co-founder of Motherson Group, which has a presence in both India and Australia, Sehgal’s company has an overall revenue of over USD 10.5 billion, which is Rs 87,404 crore, reported dnaindia.com.
The name of his company is ‘Motherson’ because Vivek Sehgal founded the company with his late mother Shrimati Swaran Lata Sehgal in 1975. What started as a silver trading company has now emerged as a conglomerate with a presence in the auto industry.
Sehgal’s grandfather was a successful jeweler. At the age of 18, Sehgal started silver trading by selling one kg of silver at one rupee, earning around Rs 2500 per month during the early 1970s. He saw the potential in silver trading and investment and decided to build his own business.
In 1975, Vivek Chaand Sehgal decided to build his own silver trading company Motherson, along with his mother Swaran Lata Sehgal. However, the silver trading business soon started to go downhill and reached the verge of bankruptcy.
The Motherson Group then started venturing into the auto business and started producing vehicle parts, eventually digging them out of debt. Samvardhana Motherson International now majorly deals in auto parts, and is the reason behind the majority of Sehgal’s wealth.
While his company is now worth over Rs 87,000 crore, Vivek Chaand Sehgal has a net worth of over USD 4 billion according to Forbes, which comes out to Rs 33,287 crore, making him the richest Indian living in Australia.
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