Srichand and Gopichand Hinduja, often referred to as the Hinduja Brothers, are UK-based billionaires that run a multinational conglomerate alongside their two other brothers. They are currently the third richest duo in the United Kingdom with an estimated net worth of $9 billion as of October 2013, according to Forbes. They are also ranked 2nd in the list of wealthiest people in India
Net Worth: $9 Billion (as of October 2013)
Source: Inheritance, Diversified
Born: Srichand-1935 (Age 78), Gopichand-1940 (Age 73)
Residence: London, United Kingdom
Marital Status: Both married
Srichand P Hinduja
Srichand Hinduja, or simply ‘SP’ to his friends and close business associates, is the eldest son of Parmanand Deepchand Hinduja, the founder of the Hinduja Group. Srichand was born in 1935 in Pakistan, in a small city called Shikapur. Srichand is the head of the massively rich Hinduja family, and he co-chares their family’s multinational company with his younger brother, Gopichand.
Under his leadership and the dedication of his three younger brothers, SP has managed to conceive and strategize the expansion and diversification of the privately owned corporation, the Hinduja Group. His business approach is opportunistic and conservative, investing in diversified business sectors including IT, banking and finance, oil & gas, real estate, power, media & entertainment, energy and chemicals.
Srichand is also the global coordinator and chief architect of the IndusInd Banking and Finance Organization. This is a bank that was set up with the aim of assembling resources, as well as providing an opportunity to Indians, both in India and overseas to contribute to the economic development of their country, India. IndusInd Banking and Finance Organization is the first bank that has been able to mobilize funds from non-resident Indians for the real benefit of India.
Srichand is married to Madhu, and together they have two daughters, Shanu and Vinno. Both Srichand and Madhu are actively involved in the Hinduja Group business.
Gopichand P Hinduja
Gopichand, fondly known as ‘GP’ to his close friends, is the second-born of the four brothers that are famously known as the ‘Fab Four’. He was born in 1940, and those who know him well say that he often sounds more like a theologian than a businessman. He co-chairs the Hinduja Group Corporation with his elder brother, Srichand.
Gopichand joined his family’s business in 1959 as a teenager, and he was one of the architects of the company’s transformation to a multi-billion dollar multinational from an Indo-Middle East trading operation. He is also the visionary behind the company’s incursions into Power and Infrastructure sectors.
Gopichand graduated from Jai Hind College in Mumbai in 1959 and later attained an Honorary Doctorate from the University of Westminster. He also attained an Honorary Doctorate of Economics from Richmond College, London. He is married to Sunita, and together they have a daughter, Rita, and two sons, Dheeraj and Sanjay, who are both actively involved in their family’s business.
The Hinduja Brothers
Just like many wealthy families, the Hinduja family has been caught up with controversies over the years. One of the most memorable controversies was in 2001, when the family contributed $1.5 million towards the construction of the Millennium Dome in London. This became a huge issue such that the then UK minister of Northern Ireland, Peter Mandelson, opted to resign. Mandelson was accused of accepting the donation from the Hinduja family as a bribe that would see Srichand obtain a British passport. Mandelson was, however, cleared of any transgression, after he admitted to have made misleading statements in relation to Srichand’s travel document.
Another controversy that almost drowned the Hinduja family occurred in 1987, when the family was accused of obtaining millions of dollars from a Swedish arms manufacturer, Bofors, in return for swaying the Indian government to purchase 400 field guns. This controversy led to a criminal investigation that was concluded in the Delhi high court, throwing out the charges. When asked about the controversies that rocked the family, Gopichand said that no big business is without controversy. He continued to say that as far as controversy is concerned, the family tries to deal with it, even though there are instances where some controversies are picked up by success and growth of business.
The Hinduja’s Family Motto
"Everything belongs to everyone and nothing belongs to anyone."
Interesting fact about Srichand and Gopichand Hinduja