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# Brijmohan Munjal

Random fact: Hero Cycles says it became India's largest bike maker in 1975.

Overview

Munjal was chairman emeritus and the largest shareholder of Hero MotoCorp, India's biggest motorcycle maker. The New Delhi-based company sold about 6.6 million two-wheelers in fiscal 2015 and plans to lift annual sales to 12 million units by 2020 by tapping demand in India's rural areas. Hero has sold more than 60 million motorcycles, 40 percent of the market in India. He died in November 2015.

As of Jan. 21, 2018:
Last change ()
YTD change ()
Industry Consumer, Cyclical
Biggest asset N/A
Citizenship India
Age 92
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Brijmohan Munjal's net worth of can buy ...

0
troy ounces of gold
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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

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Net Worth Summary

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Biography

Birthdate: 7/1/1923
Family: Married, 4 children

Brijmohan Munjal was born in 1923 in Kamalia, then an undivided Punjab province that was part of the British Indian empire. Kamalia is now in Pakistan, which was carved out of India in 1947 following its independence from British rule. After the partition, Munjal and his brothers left Pakistan and started a company that manufactured bicycle parts, then bicycles, in Ludhiana, in India's northern Punjab state. Hero Cycles said it became the world's largest bicycle manufacturing company by 1975. Munjal then ventured into other businesses, including yarn spinning, exports and auto components.

Munjal and his sons formed a joint venture in 1984 with Honda Motor, which brought Japanese technology to the partnership. In less than two decades, Hero Honda Motors emerged as the leader of the two-wheeler industry. The Japanese company set up its own India unit, Honda Motorcycle, in 2001.

The partnership ended a decade later when Munjal and his family bought Honda's 26 percent stake in the venture. The billionaire sold a 29 percent stake in his family's investment company, Hero Investments, to private-equity firm Bain Capital and sovereign wealth fund GIC to retire debt used for the purchase of Honda's stake. The Munjal family changed the name of the motorcyle maker to Hero MotoCorp in 2011.

Munjal stepped down as chairman of Hero MotoCorp in June 2015, when his son, Pawan Munjal, his son, assumed control of the company. He died in November 2015.

Milestones
  • 1923 Born in Kamalia, now part of Pakistan, which was carved out of India in 1947.
  • 1956 Hero Cycles starts making bicycles at its plant in Ludhiana, in Punjab state.
  • 1984 Munjal and his sons form joint venture with Honda.
  • 1992 Sets up Raman Kant Munjal Foundation.
  • 2010 Bain Capital, Singapore's GIC buy combined 29 percent of Hero Investments.
  • 2010 Munjal family agrees to buy Honda's 26 percent stake in Hero Honda.
  • 2011 Hero's annual motorcycle sales cross 5 million units.
  • 2011 Changes name to Hero MotoCorp from Hero Honda Motors.
  • 2012 Merges family-controlled investment company with Hero MotoCorp.
  • 2015 Steps down as chairman of Hero MotoCorp