SP Hinduja is an Indian-born British billionaire businessman, known as the second richest man in the UK along with his brother Gopichand Hinduja. They are widely known for appearing on lists of top billionaires and for being neighbors of Queen Elizabeth.
Wiki/Biography
Srichand Paramanand Hinduja was born on Thursday, November 28, 1935, in Karachi, Sindh, British India (now Pakistan) (age 86; as of 2021). His zodiac sign is Sagittarius. After completing his studies, SP Hinduja joined his father’s textile and trading business at the age of 18 and headed the offices in Mumbai, India and Tehran, Iran.
appearance
Height (approximately): 5′ 5″
Hair color: gray (semi-bald)
Eye color: black
family
Parents and siblings
SP Hinduja’s father’s name is Parmanand Deepchand Hinduja and his mother’s name is Jamuna Parmanand Hinduja. He has three brothers: Gopichand Hinduja, Prakash Hinduja and Ashok Hinduja.
wife and children
SP Hinduja is married to Madhu Hinduja and has two daughters: Shanu and Vinoo Srichand Hinduja. They also had a son, Dharam Hinduja, who set himself on fire.
Religion/Religious Views
SP Hinduja belongs to a Sindhi Hindu family. He was a religious man and a spiritual man.
Profession
SP Hinduja was born into a business family in Karachi, British India. In 1914, his father moved to Bombay to learn the secrets of business and in 1919 he opened his first international office in Iran. One of the reasons for the early success of the Hinduja empire was that SP Hinduja secured the international distribution rights to the Bollywood blockbuster Sangam (1964). They distributed the film throughout the Middle Eastern market, which helped him earn millions of dollars. The Hindujas were working in Iran in the 1960s when Indira Gandhi disagreed with the Shah over rising oil prices in Iran. In this regard, the Shah of Iran said that India should consider increasing the number of goods exported to Iran to make up for the loss of profits. During this period, the Hindujas seized the opportunity and they secured one of the largest deals in their business, the Kudremukh iron ore project, and received commissions of nearly $10 million. They also established two trading companies – Sangam Trading and Ashok Trading, which were responsible for importing famous German brand cars, American aircraft, several computer companies, a trading company, an American airline and many other products. Hindujas are also involved in selling food items such as onions, potatoes and iron ore from India to Iran. In the 1980s, the Hinduja Group acquired a large stake in Indian truck and bus manufacturer Ashok Leyland in one of the biggest transactions of their lives. At the same time, they controlled Gulf Oil International from Chevron (an energy industry company), supplying oil and lubricants to various parts of the world, including India.
Old photo of Hinduja brothers after striking deal with Ashok Leyland (standing next to car)
In the 1990s, Hindujas entered the banking industry, setting up banks in Switzerland and India, and found a place among India’s most famous business tycoons such as Tata, Birla, and Ambani. In 1993, SP Hinduja entered the banking industry. They laid the foundation of IndusInd Bank in the banking industry and subsequently established IndusInd Media and Communications Limited in 1994. The then Finance Minister Manmohan Singh was invited to attend the inauguration ceremony of the bank.
SP Hinduja (right) with then Finance Minister Manmohan Singh at the inauguration ceremony of IndusInd Bank in 1994
In 1994, SP Hinduja established SP Hinduja Banquee Privee, the only Indian-owned Swiss bank with its headquarters in Geneva, Switzerland. In the past few years, the bank has opened branches in Zurich, London and Dubai. The bank provides investment advisory and wealth management services to large businessmen and entrepreneurial clients. In 2012, Hinduja Group acquired Houghton International in partnership with Ghouse Mohammed Asif, director of private equity at JPMorgan Chase, and former U.S. Treasury Secretary Hank Paulson, completing the transaction for $1.045 billion. SP Hinduja and his daughter Vinoo Hinduja look after PD Hinduja Hospital and Medical Research Center in Mumbai. While managing so many businesses, the Hinduja Group established a non-profit organization called Hinduja Foundation to help the poor by providing quality medical facilities, education and other services. The organization is funded by the Hinduja Group and its family. They have been looking after the foundation for the past 48 years and have opened further branches in the UK and USA.
net worth
According to Forbes magazine, the Hinduja brothers have a net worth of $14.7 billion.
Facts/Trivia
- In May 1992, SP Hinduja’s son Dharam Hinduja and his wife came to a hotel in Mauritius and as agreed, they both set themselves on fire and attempted suicide. The couple was taken to hospital where Dharam Hinduja died from burns to 70 per cent of his body, but his wife survived the fire. It was later reported that Durham married an Australian Roman Catholic 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, near Buckingham Palace’s shopping mall. The family spent five years renovating the house, which now serves as the family’s guesthouse and party house. In October 2013, Forbes Lifestyle magazine valued the residence at $500 million, making it the third most expensive private residence in the world.
- SP Hinduja is a strict vegetarian and a teetotaler. Whenever he travels abroad, he prefers to travel with his chef. Whenever he was invited to a banquet at Buckingham Palace, he even brought vegetarian food.
- In an interview with Times of India, SP Hinduja talked about how they follow certain rules when it comes to privacy. After dinner, guests who are not immediate family members are driven to a hotel or luxury hotel, he said.
- The family has a tradition of family retreats where all the brothers and their families go to India every year. They do this to maintain stronger bonds and bring family members closer together. SP Hinduja initiated the trip and at one point they decided not to go to Mumbai but to Rishikesh for a family trip.
- In 2010, a British university awarded SP Hinduja an honorary doctorate. SP Hinduja, however, rejected the offer and said he would accept the degree only if the university offers the same degree to all brothers. He said-
I told them I would only consider it if all four brothers got it. Everyone contributes to the business according to their age. I don’t want any conflict in the family. “
- Although the brothers work for the same company, they live in different parts of the world, like SP Hinduja and Gopichand Hinduja live in London, Prakash Hinduja lives in Monaco and Ashok Hinduja lives in Mumbai.
- All Hinduja brothers are very spiritual in nature and they believe in the ideology of ‘devoted service’.
- In May 2019, the Sinduja brothers topped the Sunday Times Rich List with a net worth of US$27.7 billion. In 2021, they ranked 133rd on Forbes’ list of “World’s Richest People” with a net worth of US$14.9 billion.
- The Hinduja Group operates in 48 different countries in various industries including automotive, telecommunications, healthcare, defence, financial services and provides employment opportunities to nearly 150,000 people.
- The Hinduja brothers have followed their father’s ideology ever since they started working in the corporate world. Parmanand Hinduja used to treat his employees as an extended family and every time he sat down for a meal, he would ask his employees to eat with him. Over the years, the brothers worked together to maintain peace and harmony in the business, often disagreeing on a decision but never disagreeing.
- Despite living in different countries in different time zones, the Sinduja brothers still talk to each other every day. According to SP Hinduja, many of their business dealings and decisions are made over the phone.
- SP Hinduja told in an interview that his father used to bribe him and his brothers to work with him during summer vacations for some money. Additionally, he was asked how he ensures he is constantly learning new things in his business, to which he responded:
I often feed the squirrels on my walks in St. James Park and I always notice that if you throw two peanuts at them, they always take one and save the other. They finished the first one before coming back to finish the other. “
- SP Hinduja and his brothers are strong believers in charity. SP Hinduja said in an interview-
You work to earn, you earn to give. But I don’t believe in giving for charity’s sake. Always link philanthropy to economic growth.”
- Speaking to The Economic Times, SP Hinduja shared his views on politics and said:
We do not support or oppose any government, whether Congress or BJP, Labor or Conservatives. We do not do anything political, we only do things that are in the interests of the motherland. This is the fundamental principle on which we conduct good business. Even in the Islamic world we are respected, although our name is Hinduja, which may be misleading. We are not the product of religion. We are products of nature. But I don’t criticize any religion. “
- SP Hinduja follows a strict routine to maintain work-life balance. In an interview with the magazine, he explained his daily life and said –
I slept for four hours from midnight to 4am. When I wake up, I meditate for an hour and then walk for an hour. Morning is the best time to be creative and innovative. I refuse to show up late to a party; people are just fighting their body’s natural laws. “
- When reporters asked about their relationship with the government, SP Hinduja spoke of an incident that happened in 1998 when Brajesh Mishra, principal secretary to BJP leader Atal Bihari Vajpayee, was in London on an official visit to meet the Labor government leader. He further explained the incident and said –
When he arrived I got a phone call asking me if my relationship with the Labor government was good. I said we had a good relationship and I would do my best whether it was Labor or Conservative. Within two hours I was taking him to meet Blair, who was on his way to Manchester to meet Bill Clinton. But we’re not doing this for publicity. “
- The Hinduja family is famous for their Diwali parties, which they have been hosting since 1980. The party’s guest list included Britain’s richest man, the Foreign Secretary and current Prime Minister Boris Johnson. The party was held at their house on Carlton House Terrace.
Neeta and Mukesh Ambani’s Hinduja Diwali party in London
- In 2020, as the world suffered from the widespread COVID-19 pandemic, the Hinduja brothers continued their years-long tradition of hosting a Diwali party. This time, however, the entire event was held virtually and was opened by Prince Charles, who lit candles to start the event. On this occasion, many important Indian figures, including the Vice President of India, the Governor of Maharashtra, and the High Commissioner of India to the United Kingdom, sent greetings to the Hinduja family. The Hinduja brothers also arranged several entertainment performances and invited artists such as Anup Jalota, Sonu Nigam, Shankar Mahadevan, Rahat Fateh Ali Khan and others to participate in the event.
Prince Charles lights candles for Indian Diwali party online event
Categories: Biography
Source: HIS Education