Hurun Rich List 2022: Who is Ravi Modi, whose net worth grew 376%?
With a total net worth of ₹32,400, Modi was the biggest gainer, jumping 205 positions on the list, from 246 to 41. He is the man behind ethnic wear brand ‘Manyavar.'
Ravi Modi, Founder and Managing Director (MD) of ethnic wear brand ‘Manyavar,’ emerged as the top wealth gainer of the year in the recently-released IIFL Hurun India Rich List 2022. With a staggering 376% increase, Modi's net worth rose to ₹32,400 crore, the list showed. Unsurprisingly, he made a huge jump, of 205 positions – from 246 to 41 – on the list, which was topped by Gautam Adani.
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Here are a few things to know about Ravi Modi:
(1.) According to Forbes, his real-time net worth, as of September 25, is $3.7billion. On the Forbes 2022 Billionaires List, he was ranked 1,238.
(2.) The brand Manyavar comes under Vedant Fashions, which the 45-year-old opened in 2022, in Kolkata – and named after his only child – to manufacture traditional Indian garments. Today, Vedant is the Chief Marketing Officer of Vedant Fashions.
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(3.) Modi's wife, Shilpi, sits on the board of Vedant Fashions. The $85 million-revenue company has more than 600 stores in India, and 11 international outlets.
(4.) Modi, who took his company public in February, reportedly likes to live simple, and resides in a society on the outskirts of Kolkata, away from the metropolis bustle.
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(5.) With his legacy business doing good, he decided, in 2002, to buy a Mercedes. However, he postponed his plan, put the profits into expansion, and got himself a Mercedes in 2017, a full 15 years later.