Malvinder & Shivinder Singh Net Worth
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| -$500 million (combined) | N/A | N/A | India | Male | N/A | Businessmen | Indian |
Malvinder & Shivinder Singh, Indian brothers and businessmen, are currently reported to have a combined net worth of -$500 million. However, it is important to highlight that this figure has significantly changed over time due to a series of bad investments and loans gone wrong.
Highlights
– Malvinder Singh and Shivinder Singh had a combined net worth of $2.5 billion at their peak.
– They lost a substantial amount of their fortune through a chain of unfortunate investments and loans.
– The brothers focused on their home market in India after shedding several international assets.
Early Life
Malvinder and Shivinder Singh were born and raised in India. They inherited their family’s 33.5% stake in Ranbaxy Laboratories, an Indian unit of Japanese pharmaceutical giant Daiichi Sankyo, upon the death of their father in 1999.
Career
Malvinder Singh is best known for his role as the former chairman and CEO of Ranbaxy Laboratories. Under his leadership, Ranbaxy became a prominent player in the pharmaceutical industry. In 2008, the Singh brothers made the decision to sell their inheritance in Ranbaxy for $2 billion and Malvinder resigned as Chairman and CEO of the company.
Aside from their stake in Ranbaxy, the brothers sold their shares in various international assets, including an Australian dental company, a Hong Kong healthcare firm, and a Vietnamese medical chain. These sell-offs generated around $700 million, allowing them to focus on their ventures in the Indian market.
Currently, the Singh sibling duo is in charge of Fortis Healthcare, a leading hospital chain, and Religare, a prominent financial services company, among other assets.
Personal Life
There is limited information available about the personal lives of Malvinder and Shivinder Singh. However, it is known that they have been embroiled in legal issues and financial controversies in recent years.
Net Worth Over Time
The Singh brothers’ net worth has fluctuated greatly over time. At their peak, their combined net worth reached $2.5 billion. However, a series of unfortunate investments and loans to a fraudulent guru resulted in significant financial losses.
As of now, their combined net worth stands at -$500 million. The brothers have faced fines and legal action related to fraud and alleged embezzlement of funds from their drug company and healthcare company.
Components of Net Worth
The components of the Singh brothers’ net worth include their stakes in Fortis Healthcare, Religare, and other assets in the Indian market.
It is important to note that accurate and up-to-date information regarding their current net worth may not be readily available due to ongoing legal proceedings and financial challenges.
In conclusion, despite once having a significant fortune, Malvinder and Shivinder Singh’s net worth has declined substantially. Their career in the pharmaceutical industry, particularly their involvement with Ranbaxy Laboratories, played a significant role in their financial journey. However, a series of bad investments and loans, along with legal issues, have led to their current negative net worth of -$500 million. The brothers continue to face challenges and legal battles in their pursuit of financial stability.