Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#367 Pankaj Patel $5.10B

Random fact: Second billionaire to buy a private jet in Ahmedabad.

Overview

Patel is the chairman and major shareholder of Zydus Cadila, the fourth-largest drugmaker in India. The Ahmedabad, India-based group received approval in 2013 from regulators to sell Lipaglyn, the world's first drug to treat diabetic dyslipidemia. It spent more than $250 million to develop the treatment over 12 years.

As of Dec. 12, 2017:
Last change +$46.1M (+0.9%)
YTD change +$979M (+23.8%)
Industry Health Care
Biggest asset CDH IN Equity
Citizenship India
Age 64
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Pankaj Patel's net worth of $5.10B 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
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Patel's fortune comes from his 75 percent stake in Cadila Healthcare, part of the Zydus Cadila group. The Ahmedabad, India-based company is the fourth largest in the Indian pharmaceutical market, according to its website. 

He also controls 72.5 percent of Zydus Wellness, a producer of sugar substitutes and skincare products. He owns the shares in the two publicly traded companies directly, through family members and a family trust, according to September 2017 filings with the Bombay stock exchange. Patel is credited with all of these shares to reflect his status as chairman and managing director. Zydus Wellness shares owned by Cadila Healthcare are excluded from the analysis.

The billionaire's holdings in cash and other investable assets are based on an analysis of dividends and insider transactions since 2005, the earliest date shareholdings could be verified, as well as taxes and market performance.

Sujata Rajesh, a spokeswoman for Cadila Healthcare, didn't respond to an e-mail for comment on Patel's net worth calculation.

Biography

Birthdate: 3/16/1953
Family: Married, 2 children
Education: Master's Degree, Pharmacy

Pankaj Patel was born to Ramanbhai Patel, co-founder of Indian pharmaceutical company Cadila Laboratories, in 1953. His father started the drugmaker with partner Indravadan Modi in the year before, and split with him in 1995. The Modi family restructured their part as closely held Cadila Pharmaceuticals. The Patels renamed theirs Cadila Healthcare, which became publicly traded in India five years later.

The billionaire, who holds a post-graduate degree in pharmacy from Gujarat University, helped transform Ahmedabad, India-based Cadila into a global health-care business ranked fourth among Indian pharmaceutical companies, according to its website. It operates as Zydus Cadila and reached $1 billion in revenue in 2011.

Patel is betting on new drug discoveries for future growth. Cadila Healthcare received approval from India's drug regulator to market Lipaglyn, a new diabetes drug, in 2013.

His son, Sharvil Patel, became the managing director of Cadila Healthcare in July 2017, after his father stepped down from the role.

Milestones
  • 1952 Father Ramanbhai Patel co-founds Cadila Laboratories with Indravan Modi.
  • 1953 Pankaj Patel is born in Ahmedabad, India.
  • 1995 Family splits from co-founder Modi and forms Cadila Healthcare.
  • 2000 Shares of Cadila Healthcare sold for the first time in India.
  • 2001 Ramanbhai Patel dies.
  • 2003 Company enters the French generic drug market.
  • 2007 Cadila reorganizes its consumer business.
  • 2008 Makes foray into Spain by acquiring Laboratorios Combix.
  • 2010 Secures India's approval to market H1N1 vaccines in the country.
  • 2013 Wins regulatory approval to market new diabetes drug in India.