Srichand Parmanand Hinduja was born on 28 November 1935 and he is an Indian-born British billionaire business magnate, investor and philanthropist.
Height (approx): 5′ 5″
Hair color: Gray (half bald)
Eye Color: Black
Sp Hinduja Biography
Srichand Parmanand Hinduja was born on November 28, 1935, in Karachi, Sindh Province, British India .
He was educated at the Davar College of Commerce and the RD National College, both in Mumbai.
Alongside his younger brothers Gopichand, Prakash and Ashok, Hinduja is known as the patriarch of the “fabulous four” of India.
Sp Hinduja Privee
In 1994, SP Hinduja founded the only Indian-owned Swiss bank, SP Hinduja Banquee Privee, which is headquartered in Geneva, Switzerland. In recent years, the bank has opened branches in Zurich, London and Dubai. The bank offers investment advisory and wealth management services to large businessmen and entrepreneurial clients.
Sp Hinduja Career
Hinduja began his career in his father’s textile and trading businesses in Bombay , India and Tehran , Iran. One of his first big hits, in the early 1960s, was the acquisition of the overseas rights to the Indian blockbuster Sangam .
He was distributing and promoting the film in Middle Eastern markets and its success earned him millions of dollars. Other successful businesses he was starting in his early career included the sale of food products (onions and potatoes) and iron ore from India to Iran.
Sp Hinduja Business Career 1980-2000
With the acquisition of Ashok Leyland (from British Leyland) and Gulf Oil (from Chevron) in the 1980s and the establishment of banks in Switzerland and India in the 1990s, he was becoming one of the best-known business tycoons in the world and India along with names like Tata , Birla and Ambani .
In 2012, the Group was acquiring the US firm Houghton International, the world’s largest manufacturer of metallic fluids, for $1.045 billion by forming a consortium with the help of Ghouse Mohammed Asif, JP Morgan (Private Equity Director) and Hank Paulson, Former United States Secretary of the Treasury (Ex – Goldman Sachs).
His business approach is conservative and opportunistic, investing in diversified business sectors ranging from Oil & Gas, Banking & Finance, and IT to Real Estate, Power & Chemicals, Energy, and Media & Entertainment.
Sp Hinduja Facts And Trivia
- In May 1992, SP Hinduja’s son, Dharam Hinduja, and his wife went to a hotel in Mauritius where, as part of a pact, they both set themselves on fire and attempted suicide. The couple was taken to hospital where Dharam Hinduja died with 70% burns to his body, however his wife survived the fire. Reports later said that Dharam had married a Roman Catholic Australian woman named Ninotchka Sargon in January 1992.
- In 2006, the Hinduja brothers spent $58 million on a 25-bedroom mansion on London’s Carlton House Terrace, which is in the commercial center of Buckingham Palace. The family was spending five years renovating the house, which is now used as a guest house and party house for the family. In October 2013, Forbes Life magazine was valuing the house at $500 million, making it the third most expensive private home in the world.
- SP Hinduja is a strict vegetarian and teetotaler. He is prefering to travel with his chef whenever he travels abroad. He even brings vegetarian food from him whenever he is invited to banquets at Buckingham Palace.
- During an interview with The Times of India, SP Hinduja was speaking about how they follow certain rules when it comes to their privacy. He was talkng about how a guest who is not part of the immediate family is sent to his guest house or a fancy hotel once dinner is over.
- The family has a tradition of a family retreat where all the brothers and their families visit India every year. They are practicing this to keep their bond stronger and bring their families closer. SP Hinduja was starting the trip and once decided not to visit Mumbai and go on a family trip to Rishikesh.
- In 2010, SP Hinduja was offering an honorary doctorate by a UK university. However, SP Hinduja was refusing the offer saying that he would only accept the degree if the university offered all the brothers the same degree. He said-
I told them that I would consider it only if the four brothers understood it. All have contributed to the business, depending on their age. I don’t want any conflict in the family.”
- While the brothers work for the same company, they live in different parts of the world, like SP Hinduja and Gopichand Hinduja living in London, Prakash Hinduja living in Monaco, and Ashok Hinduja residing in Mumbai.
- All Hinduja brothers are very spiritual in nature and believe in the ideology: “Devoted Service”.
- In May 2019, the Hinduja brothers ranked first on the Sunday Times Rich People List with a net worth of $27.7 billion. In 2021, they ranked 133rd on Forbes’ “World’s Richest People” list with a net worth of $14.9 billion.
- The Hinduja Group operates from 48 different countries in various sectors such as automobile, telecommunications, health, defense, financial services, etc., employing almost 150,000 people.
- The Hinduja brothers have followed their father’s ideologies ever since they started working in the business. Parmanand Hinduja used to treat his staff like an extended family, and whenever he sat down to eat, he used to ask his staff to sit with him while he ate. Over the years, the brothers have worked together to maintain peace and harmony in the business and often have different opinions on a decision, but there are no disagreements.
- Despite living in different countries with different time zones, the Hinduja brothers manage to talk to each other on a daily basis base. According to SP Hinduja, many of his deals and decisions have been made through a phone call.
- During an interview, SP Hinduja talked about how his father used to bribe him and his brothers to come and work with him for some money during summer vacations. Furthermore, he was asked how he makes sure to keep learning new things in the business to which he replied:
I often feed the squirrels on my walks in St James Park and I always find that if you throw two peanuts at them they will always take only one and save the other. They finish the first one and only then come back for the other one.”
- SP Hinduja and his brothers are strong believers in philanthropy. In an interview, SP Hinduja said:
You work to win and win to give. But I don’t believe in donating to charity. Always link philanthropy with economic growth.”
- In an interview with The Economic Times, SP Hinduja shared his views on politics, saying:
We are not for or against any government, be it the Congress or the BJP, the Labor Party or the Tory. We do not do anything political, only what is in the interest of the mother country. That is our basic principle on which we do good business. Even in the Islamic world we are respected despite our Hinduja name, which can be misleading. We are not products of religion. We are products of nature. Still, I do not criticize any religion.”
- SP Hinduja follows a strict routine to maintain work-life balance. In conversation with a magazine, he explained his daily routine and said:
I sleep four hours between midnight and 4 am. When I wake up, I meditate for an hour, then I go for an hour walk. Morning is the best time to be creative and innovative. I refuse to go to late parties; people are just fighting what is natural to the body.”
- Asked by a journalist about his government connections, SP Hinduja spoke about an incident in 1998 when BJP leader Atal Bihari Vajpayee’s chief secretary, Brajesh Mishra, was visiting London on an official trip to meet with the leader of the Labor government. He explained the event in more detail and said:
I received a phone call when he arrived asking me if I have good relations with the labor government. I said we have good relations, whether Labor or Conservative, and I would do my best. Within two hours I took him to meet Blair, who was going to Manchester to meet Bill Clinton. But we don’t do this for publicity.”
Sp Hinduja Net Worth
He is the main shareholder and chairman of the Hinduja group of companies .
As of May 2020, together with his brother De he Gopichand , he is the second richest man in the UK. Since the 1990s, he has consistently ranked among the wealthiest people in the UK and Asia.
In May 2019, Hinduja topped the Sunday Times Rich Listwith an estimated wealth of £22 billion ($27.7 billion). According to the wealthy list compiled by the Asian Media & Marketing Group, Hinduja’s wealth is estimated at GBP 25.2 billion ($31.7 billion).
The Forbes List in March 2019 ranked him and his brother GP as the 65th richest billionaire family in the world with an estimated wealth of $16.9 billion.
Sp Hinduja Private Life
He is one of the richest business men in United Kingdom.
He is married to Madhu Srichand Hinduja and they have two daughters. Srichand Hinduja married Suren Mukhi, the son of Narsi and Janki Mukhi, another Sindhi business family based in London.
His other daughter, Vinoo Srichand Hinduja, is on the board of directors of the PD Hinduja National Hospital and Medical Research Center in Mumbai.
On May 19, 1992, his only son, Dharam Hinduja, died just days after receiving 70% self-immolation burns in a hotel room in Mauritius, as part of a suicide pact with his wife, who survived.
He had secretly married Ninotchka Sargon, a Roman Catholic Australian, at the Chelsea Register Office in January of that year.
He is a tea lover and a strict vegetarian. He is known for bringing his own vegetarian food to the Queen’s banquets at Buckingham Palace.