Meet Indian Billionaire Who Started With Rs 10,000 And Two Employees Now Surpasses Cyrus Poonawalla's Net Worth

Dilip Shanghvi, with a net worth of Rs 2.74 Lakh Crore ($32.4 billion) in 2024, is the 5th wealthiest person in India, as per Forbes. He has been instrumental in expanding the Indian pharmaceutical industry globally. He surpasses Cyrus Poonawalla, who founded Serum Institute of India in 1966, with an impressive net worth of $24.5 billion.  

In 2016, Dilip received the Padma Shri award for his contributions to the industry. He was also appointed to the Reserve Bank of India's central board committee in 2018 and serves on Maharashtra’s Economic Advisory Council.  

In 2022, Dilip was appointed chairman of Gujarat Biotechnology University. He also chaired the Board of Governors at IIT Mumbai, playing a key role in education development.  

Sun Pharma expanded quickly across India and, in 1997, entered the US market by acquiring Caraco Pharma. In 2014, Sun Pharma made a major move by acquiring Ranbaxy Laboratories for Rs 19,000 crore, becoming India’s largest pharmaceutical company. 

With just a bachelor’s degree in commerce from Bhawanipur College and no formal business training, Dilip Shanghvi built Sun Pharma into the world’s fourth-largest specialty generics pharmaceutical company, with a presence in over 100 countries.  

In 1983, Dilip borrowed Rs 10,000 from his father to start Sun Pharmaceuticals in a small room in Vapi, Gujarat. The company achieved Rs 7 lakh in sales in its first year. His father is a pharmaceutical distributor in Kolkata.

Dilip was born on October 1, 1955, in Amreli, Gujarat. His father, Shantilal Shanghvi, worked as a pharmaceutical distributor. Dilip completed his schooling in Kolkata and earned a Commerce degree from Calcutta University.