Meet Man Who Once Surpassed Ambani, Adani & Tata In Wealth—Now Lives In Rented Flat Due To….
Once one of India's richest businessmen—richer than Ambani, Adani, and Tata—Vijaypat Singhania built the Raymond empire into a global brand. But after handing over his stake to his son Gautam, a bitter family feud left him with nothing. Today, at 86, the former tycoon lives in a rented flat, far from the lavish life he once led. https://zeenews.india.com/photos/business/meet-man-who-once-surpassed-ambani-adani-tata-in-wealth-now-lives-in-rented-flat-due-to-2918524 Updated:Jun 19, 2025, 05:20 PM IST From Billionaire to Renter
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While names like Mukesh Ambani, Gautam Adani, and Narayana Murthy dominate India's billionaire club today, there was a time when one man outshone them all in wealth and influence. Meet Vijaypat Singhania — once a textile tycoon, now 86 and living in a rented flat after a heartbreaking family fallout.
(Image credit: @divya_gandotra/x & Social Media) Who Is Vijaypat Singhania?
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Vijaypat Singhania was the chairman of the Raymond Group from 1980 to 2000. He turned the homegrown brand into a global name in the textile and fashion industry. Born into the wealthy Singhania family, he carried forward the legacy of his uncle, G.K. Singhania. The Business Empire He Built
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Under his leadership, Raymond became synonymous with premium suiting in India. From small-town outlets to international showrooms, Raymond became a household name thanks to his vision and business acumen. A Family Feud That Changed Everything
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Trouble began when Vijaypat tried to divide the business between his two sons — Madhupati and Gautam Singhania. While Madhupati distanced himself by moving to Singapore, Vijaypat handed over his 37 per cent stake in Raymond to Gautam in 2015. What followed was a bitter fallout. Ousted By His Own Son
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After transferring his shares, the relationship between Vijaypat and Gautam soured. Eventually, Gautam ousted him from the family home. With no control over the company or assets, Vijaypat was left without wealth or a place to stay. Now Lives in a Rented Apartment
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Today, the man who once owned jets, mansions, and held the reins of a billion-dollar company lives in a rented flat. In an emotional interview, he shared how his once-lavish lifestyle is now a memory, and how personal betrayal hurt more than financial loss. More Than a Businessman
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Vijaypat is also an acclaimed aviator. Inspired by J.R.D. Tata, he's a trained pilot and was honored with the Tenzing Norgay National Adventure Award (2001) and the Padma Bhushan (2006). He was also named Sheriff of Mumbai in 2006 and made Honorary Air Commodore by the Indian Air Force. Legacy Beyond Loss
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Despite the setbacks, Vijaypat's legacy remains strong. He made Raymond a global brand, earned respect as a leader and aviator, and inspired many with his resilience. His story is a reminder that wealth can be fleeting, but legacy and dignity endure.
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