Bloomberg Billionaires Index

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#254 Benu Gopal Bangur $6.48B

Random fact: Said to be a strict vegetarian.

Overview

Bangur is the chairman of Shree Cement, the fourth-largest cement manufacturer in India. The Kolkata, India-based company can produce about 27 million tons of cement per year and had revenue of $1.3 billion in the year to March 31, 2017. About one-seventh of the publicly traded company's sales comes from its power division.

As of Sept. 21, 2017:
Last change -$44.0M (-0.7%)
YTD change +$1.51B (+30.3%)
Industry Commodities
Biggest asset SRCM IN Equity
Citizenship India
Age 84
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Benu Gopal Bangur's net worth of $6.48B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Bangur's fortune is derived from his 65 percent stake family in Shree Cement, the fourth-largest cement manufacturer in India. The publicly traded company can produce 27.2 million tonnes of cement each year, according to its website. He holds the shares directly, through family members and holding companies, according to a March 2017 share holding pattern filing on the company website. Bangur is credited with the entire stake to reflect his status as chairman and founder.

The value of his cash holdings is based on an analysis of share sales, dividends, market performance, taxes and charitable contributions.

Shree Cement didn't respond to phone requests for comment on Bangur's net worth.

Biography

Birthdate: 1932
Family: Widowed, 2 children
Education: University of Calcutta, Commerce, Bachelor's Degree

Benu Gopal Bangur was born in India into the Kolkata-based industrial Bangur family in 1932. He studied communications at Calcutta University. When his family split its assets into five branches in 1991, Bangur inherited much of the cement division from his grandfather, Mugni Ram Bangur, and created Shree Cement.

He served as the executive chairman of Shree Cement until January 2012, when he handed the management of the company to his son Hari Mohan, who had been managing director. The Kolkata-based cement maker had a 6 percent share of the Indian market in 2013 and has an annual capacity of 17.5 million tons, according to its annual report.

Bangur lives in Kolkata with his family.

Milestones
  • 1979 Shree Cement is incorporated in Jaipur
  • 1991 Bangur family formally splits assets among five branches.
  • 1996 Commissions second cement planet, Raj Cement in Beawar
  • 2004 Grandson Prashant Bangur joins Shree Cement.
  • 2006 Son Hari Mohan Bangur met with Warren Buffett.
  • 2012 Steps down as executive chairman of Shree Cement.
  • 2014 Announces acquisition of Jaiprakash Associates cement unit.
  • 2015 Sets up integrated cement plant in Raipur, India.