Bloomberg Billionaires Index

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#89 Shiv Nadar $14.1B

Random fact: Wife runs a contemporary art museum located in a New Delhi mall.

Overview

Nadar is the founder and majority shareholder of HCL Technologies, a software developer and outsourcing provider. The New Delhi-based company had revenue of $7 billion in the year to March 31, 2017. He also has a majority stake in publicly traded HCL Infosystems, a manufacturer of personal computers and tablets.

As of Oct. 17, 2017:
Last change +$21.2M (+0.1%)
YTD change +$2.12B (+17.6%)
Industry Technology
Biggest asset HCLT IN Equity
Citizenship India
Age 72
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Shiv Nadar's net worth of $14.1B 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 Nadar's fortune is held in publicly traded HCL Technologies, an Indian software developer. He and his family control 60 percent of the company. They also own 50 percent of HCL Infosystems, a computer maker and services company. Nadar is credited with all the shares held by his family to reflect his strategic control as chairman of the company.

The value of his cash holdings is based on an analysis of dividends, insider transactions, taxes and market performance.

Gupta confirmed the family's shareholdings in August 2017, adding that the billionaire's cash, other assets and paintings have a combined value of more than $2.1 billion. Deducting his cash from this figure provided a balance of $745 million, which is included in the analysis as personal investments.

Biography

Birthdate: 7/14/1945
Family: Married, 1 child
Education: Psg College of Technology, Electrical Engineering, Bachelor's Degree

Born in a village Tamil Nadu in 1945, Nadar had a rural upbringing, traveling all over the southern Indian state as his father moved around as a district judge. He obtained an electrical engineering degree from PSG College of Technology in Coimbatore and joined textile company DCM in New Delhi in the 1960s as a management trainee, where he met his future partners. They set up Hindustan Computers in 1976, with an investment of about $20,000 and began selling micro-computers two years later, following IBM's exit from India.

HCL Technologies, based in the New Delhi suburb of Noida, raised $170 million in an initial public offering in 1999, two years after Nadar spun off the company's research and development division. Three years later, he combined the software businesses of software developer HCL Technologies and HCL Infosystems, India's largest personal computer seller then. HCL outbid larger Indian rival Infosys in 2008 to buy Axon Group Plc, a U.K. business management software provider for about $600 million.

The billionaire started the Shiv Nadar Foundation in 1994, setting up schools and universities. The VidyaGyan schools that his foundation runs pick the brightest students from hundreds of villages in Uttar Pradesh and provides them with free education. He has increasingly turned his attention toward philanthropy as his only child, Roshni Nadar, prepares to take over the reins of the family's holding company.

HCL Corp. is the biggest shareholder of HCL Technologies and HCL Infosystems. The holding company sold a 2.5 percent stake in HCL Technologies in 2010, raising about $125 million. The billionaire donated the money to his foundation. That year, he pledged to set aside more than 10 percent of his wealth toward philanthropy; he said in an interview with the Hindu newspaper in 2013 that it will probably be 20 percent of his net worth.

Nadar's wife, Kiran, was a competitive bridge player before she became an art collector. She opened the Kiran Nadar Museum of Art inside a shopping mall in New Delhi in 2010, showcasing the family's collection of modern and contemporary Indian work.

Milestones
  • 1945 Shiv Nadar is born in a village in Tamil Nadu, India.
  • 1976 Creates Hindustan Computers, investing $20,000 with partners.
  • 1978 Starts selling micro-computers after IBM leaves India.
  • 1994 Establishes Shiv Nadar Foundation, focusing on education.
  • 1999 HCL Technologies raises $170 million in an initial public offering.
  • 2008 Acquires the U.K.'s Axon Group for about $600 million.
  • 2009 Starts VidyaGyan, providing free education to top rural students.
  • 2009 Daughter, Roshni, becomes CEO of holding company HCL Corp.
  • 2010 Sells 2.5 percent of HCL Technologies for philanthropic donation.
  • 2016 HCL Technologies acquires Volvo's external IT business.