Raymond Group Chairman and Managing Director Gautam Singhania sustained minor injuries after a tourist speedboat capsized in the Maldives early Friday. Two Indian nationals, including rally driver Hari Singh, are feared missing, and search operations are currently underway.
Gautam Singhania was among the seven people on board when the vessel overturned near V Felidhoo. He was rescued and later brought back to Mumbai, where he is recovering, his spokesperson confirmed.
“Gautam Singhania suffered minor injuries following an unfortunate accident. He is recovering under due care in Mumbai,” the spokesperson said.
The spokesperson added, “We thank you for the wishes and pray for the well-being of the affected friends.”
Who Is Gautam Singhania?
Gautam Singhania is an Indian billionaire industrialist and Chairman and MD of the Raymond Group, the world’s largest producer of suiting fabric. He was born in a Marwari industrialist family to Vijaypat Singhania.
He joined the Singhania family’s JK Group of companies in 1986 and joined the family’s Raymond Group, becoming a director in 1990. Later, he became the managing director in family business in 1999 and later chairman in September 2000.
In late 2023, he announced a separation from his wife of 32 years, Nawaz Modi Singhania.
Under Gautam Singhania’s leadership, Raymond expanded beyond textiles into real estate (Raymond Realty), engineering, and FMCG products like KamaSutra.
Gautam Singhania Controversy With Father
Gautam Singhania’s father, Vijaypat Singhania’s troubles began after he transferred his 37 per cent controlling stake in 2015.
According to him, a 2007 agreement meant to resolve an earlier family dispute entitled him to an apartment in the Singhania family’s 36-storey JK House in Mumbai’s upscale Malabar Hill. The agreed price was reportedly far below market value, but Gautam Singhania is said to have advised the Raymond board against selling such a high-value company asset.
As tension escalated the board revoked Vijaypat’s “Chairman Emeritus” title, alleging he used abusive langugae in correspondence. He has also claimed that he was forcibly removed from his office and that several of his belongings, including his Padma Bhushan award, went missing.
Vijaypat, who says he has not spoken to his son Gautam Singhania for two years, planned to challenge the situation legally, citing a 2007 law that allows parents to reclaim property gifted to children if their basic needs are not met.
Gautam Singhania Net Worth
According to reports, Gautam Singhania’s net worth is estimated at $1.4 billion, approximately Rs 11,658 crore. The majority of his wealth is derived from his 37% stake in the Raymond group.
Gautam Singhania’s primary residence in South Mumbai is valued at approximately Rs 6,000 crore. It is the second-tallest private building in India.
H owns a fleet of private jets, helicopters, luxury yachts, high-end models of supercars, including Lamborghini Revuelto priced at Rs 8.89 crore, Ferrari 458 Italia, and Lotus Elise.
Manisha Chauhan is a passionate journalist with 3 years of experience in the media industry, covering everything from trending entertainment buzz and celebrity spotlights to thought-provoking book reviews and practical health tips. Known for blending fresh perspectives with reader-friendly writing, she creates content that informs, entertains, and inspires. When she’s not chasing the next viral story, you’ll find her diving into a good book or exploring new wellness trends.
