Bloomberg Billionaires Index

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# 347 Mahendra Choksi & family $6.75B

Random fact: Stepped down as a director in 2018.

Overview

Choksi is a shareholder and former director 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.

As of :
Last change -$22.3M ( -0.3%)
YTD change -$394M ( -5.5%)
Biggest asset APNT IN Equity
Country / Region India
Age 81
Industry Industrial
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Mahendra Choksi & family's net worth of $6.75B 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 Choksi's wealth derives from a 16% 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. Less than 1% 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 did not respond to emails requesting comment on the net worth calculation.

Biography

Birthdate: 4/19/1941
Family: Unmarried, No children

Mahendra is the son of Chimanlal Choksi, one of the four founders of Asian Paint in 1942.

Born and raised in Mumbai, he's the younger brother of Aswhin Choksi, the former chairman of Asian Paints who passed away in 2018.

Mahendra joined the board of Asian Paints in 1992 and resigned as a director in 2018, citing his age. His son Manish was appointed as the company's non-executive vice chairman.

Milestones
  • 1942 Asian Paints is founded.
  • 2018 Asian Paints chairman Ashwin Choksi, his brother, dies.
  • 2018 Son Manish becomes non-executive vice chairman.
  • 2019 Departs the company's board.