Dani is a former chairman of Asian Paints, the largest paints maker in India. The Mumbai-based company manufactures decorative paints, varnishes, enamels and synthetic resins. It has customers in more than 60 countries and reported revenue of about $3.9 billion in the year to March 31, 2022.
Ashwin Dani & family's net worth of $7.53B can buy ...
... and is equivalent to ...
The majority of Dani's wealth derives from a 21% stake in publicly traded Asian Paints. The Mumbai-based company is India's biggest paint maker and has customers in more than 60 countries, according to its website.
The shares are held by a promoter group, which includes holding companies, trusts and family members, according to a December 2021 BSE filing. About one-fifth of shares held by the group are pledged and removed from the calculation.
The value of the cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.
Media representatives for Asian Paints didn't respond to emails requesting comment on the net worth calculation.
Asian Paints was founded in 1942 by Dani’s father, Suryakant, and three others.
Ashwin was born in Mumbai. His first job was in 1967 as a chemist in Detroit and joined Asian Paints in 1968 as a senior executive.
He was vice-chairman and managing director between 1997 and 2009, later becoming non-executive chairman of the company. He stepped down as chairman in 2021.