Lalit Khaitan: Teetotaller-Turned-Liquor Baron Is India's Newest Billionaire

Lalit Khaitan: Teetotaller-Turned-Liquor Baron Is India’s Latest Billionaire

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The 80-year-old has ascended to the ranks of India’s choose few.

Liquor magnate Dr Lalit Khaitan is India’s latest billionaire. The 80-year-old has ascended to the ranks of India’s choose few after capitalising on the nation’s fast progress within the liquor market. Because the chairman of Radico Khaitan, a Delhi-based enterprise boasting a formidable $380 million in income, Dr Khaitan has performed a pivotal position in shaping the business panorama. The corporate is finest recognized for its iconic drinks, together with Magic Moments vodka, 8 PM whisky, Previous Admiral brandy, and the celebrated Rampur single malt, distilled within the serene foothills of the Himalayas.

Listed here are some details concerning the latest billionaire:

1) Shares of Dr Lalit Khaitan’s publicly traded firm soared by greater than 50% this yr, reported Forbes. Bearing in mind his substantial 40% stake within the firm, his estimated web value has now reached a formidable $1 billion.

2) Dr Khaitan studied at Mayo School, Ajmer, and St. Xavier’s School, Kolkata. He has a Bachelor’s diploma in Engineering from BMS School of Engineering, Bangalore, and has accomplished a Managerial Finance and Accounting course at Harvard, USA. 

3) In 1972, Dr Khaitan’s father, GN Khaitan, took over what was previously Rampur Distillery & Chemical Firm Ltd, reworking the struggling firm, which developed into Radico Khaitan.

4) The liquor baron hails from a standard Marwari household and was a teetotaler till his father acquired the Rampur distillery enterprise.

5) He has acquired quite a few skilled accolades, with the latest being the ‘Lifetime Achievement Award’ introduced by the UPDA in December 2017. Dr Khaitan can also be actively concerned in developmental initiatives.  

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