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#221 Nusli Wadia $7.07B

Random fact: Maternal grandfather founded Pakistan in 1947.

Overview

Wadia is the chairman of Britannia Industries, a publicly traded maker of biscuits, cakes and dairy products in India. The Bangalore-based company had revenue of $1.4 billion in the year to March 31, 2017. He's also the chairman of budget carrier GoAirlines India, and has interests in textiles, trading and chemicals ventures.

As of June 24, 2018:
Last change +$1.41M (+0.0%)
YTD change +$648M (+10.1%)
Industry Diversified
Biggest asset BRIT IN Equity
Citizenship India
Age 74
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Nusli Wadia's net worth of $7.07B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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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 Wadia's fortune is derived from a 51 percent stake in Britannia Industries, a Bangalore-based maker of biscuits and other bakery products. His stake is held directly and through several holding companies, according to a September 2017 filing with the Bombay stock exchange.

His other publicly traded holdings include a 53 percent stake in textile maker Bombay Dyeing & Manufacturing Co, a 69 percent stake in chemicals producer National Peroxide and a 47 percent stake in Bombay Burmah Trading Co.

Wadia's Go Airlines India reported revenue of 33 billion rupees ($500 million), Ebitda (earnings before interest, taxes, depreciation and amortization) of 4.7 billion rupees and net income of 2 billion rupees in its 2017 fiscal year. The closely held company is valued based on the average enterprise value-to-Ebitda multiples of two publicly traded peer companies: Cebu Air and Air Asia X.

The value of his cash and other assets is based on an analysis of dividends, stock transactions, taxes and market performance.

The company's investor relations office didn't respond to requests for comment on Wadia's net worth.

Biography

Birthdate: 2/15/1944
Family: Unmarried, No children
Education:

Nusli was born on Feb. 15, 1944 into a Parsi family in Mumbai, India. He's the son of businessman, Neville Wadia, and his wife Dina Wadia. His maternal grandfather, Muhammad Al Jinnah, was the founder of Pakistan, and his maternal grandmother, Rattanbai Petit, was born into a prominent Parsi family, the Petit-Tata clan.

Nusli obtained a British passport to make travel more convenient. He's married to Maureen Wadia, a former flight attendant who has been involved in the Mrs. India beauty pageant. They have two sons, Ness and Jehangir.

Wadia Group's first business venture was in marine construction more than 250 years ago, and the company was a key player during the era of British colonial rule. The family of marine designers built more than 350 vessels over 160 years, including the first ships constructed for the British Navy outside England, according to Wadia Group's website. Its ships include 'Mindmen', on which the American National anthem was composed, and 'HMS Cornwallis,' on which the Treaty of Nanking was signed, according to the group.

The company founded Bombay Burmah Trading, a teak-trading company, in 1863, and later diversified into tea, coffee, horticulture, dental, orthopedic and ophthalmic products.

Bombay Dyeing, founded in 1879, began selling beds and other home furnishings. Britannia Industries, founded in 1918, is manufacturer of snack foods. The group founded National Peroxide in 1954 and it became India's largest manufacturer of hydrogen peroxide by installed capacity.

GoAir and Bombay Realty are among the group's more recent ventures. GoAir is a low-cost airline that began operating in 2005. Bombay Realty has been focused on mixed-use developments in Mumbai since 2011.

Milestones
  • 1863 Bombay Burmah Trading Corporation is founded.
  • 1879 Bombay Dyeing is founded.
  • 1918 Britannia Industries is founded.
  • 1954 National Peroxide is founded.
  • 1960 Wadia Techno-Engineering Services Limited is founded.
  • 2005 GoAir is founded as a low-cost airline.
  • 2011 Bombay Realty is created.
  • 2017 Britannia announces plans for the biggest plant in Maharashtra state.