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India.com
21-06-2025
- Business
- India.com
Meet man who was once richer than Mukesh Ambani, Adani, Ratan Tata, now lives in a rented flat due to..., his name is..., business was...
There was a time when Vijaypat Singhania was one of the most well-known and respected businessmen in India. He was not just rich, he was a symbol of success, power, and fame. People looked up to him as an example of what it meant to be truly wealthy and influential. But life took a painful turn. Today, at the age of 86, Vijaypat lives alone in a small rented flat in Mumbai, far away from the luxury and status he once had. Made Raymond a global name Vijaypat Singhania was born into the famous Singhania business family. His uncle, G.K. Singhania, had started the Raymond Group, but it was Vijaypat who turned the brand into a global success. He became the chairman of Raymond in 1980 and led the company until 2000. Under his leadership, Raymond became one of the top names in premium suiting fabric not only in India but around the world. He gave Raymond its iconic identity as 'The Complete Man', a campaign that made the brand relatable and aspirational. A true business legend Vijaypat built an empire worth thousands of crores and made Raymond a brand that every Indian was proud of. But despite his huge success, things didn't end well for him personally. Disputes within the family and changes in business control left him with little to his name. A Father-son relationship gone sour The turning point in Vijaypat Singhania's life came when he tried to divide his business between his two sons, Gautam and Madhupati. Madhupati had already moved to Singapore and stepped away from the business. In 2015, Vijaypat transferred his shares and control of Raymond Group to his son, Gautam Singhania, believing it was the right step for the family business. However, this decision backfired as a bitter dispute erupted between father and son. After getting control of the business, Gautam slowly began distancing his father from company matters. In 2018, Vijaypat was removed as Chairman Emeritus of Raymond, severing his ties with the company he once built. What hurt even more was that Vijaypat was eventually asked to leave his ancestral home where he had spent much of his life. This is the same man who once owned private jets, luxury bungalows, and had an army of staff at his service. Today, he lives all by himself in a small rented apartment in Mumbai. An award-winning aviator Many people know Vijaypat Singhania as the man behind the success of Raymond, but few know that he is also a professional aviator. His love for flying came from none other than JRD Tata, the legendary founder of the Tata Group and a pioneer in Indian aviation. Vijaypat broke records and earned national honors. In 1994, he made a world record by flying a hot air balloon to a height of 69,852 feet above sea level. His passion earned him the Tenzing Norgay National Adventure Award in 2001, followed by the prestigious Padma Bhushan in 2006. That same year, he was also appointed as the Sheriff of Mumbai, and the Indian Air Force honored him with the title of Honorary Air Commodore. No regret about life, but… Even after all the ups and downs in his life, Vijaypat believes that money is never permanent and what truly lasts are a person's values and actions. In a heartfelt interview, he admitted that he deeply regrets trusting his son and giving away all his wealth. That decision cost him not just money, but also family and peace. Today, he finds himself completely alone. But despite the heartbreak, he still sees himself as a fighter. He says, 'I've seen everything in life…. the top and the bottom. What I've learned, no business school can teach.' While Vijaypat now leads a modest life, his son Gautam Singhania enjoys an ultra-luxurious lifestyle. Gautam owns JK House, a towering mansion worth Rs. 6,000 crore (USD 81 million), located on Mumbai's Altamount Road, just beside Mukesh Ambani's Antilia—one of the world's most expensive homes.
India.com
19-06-2025
- Business
- India.com
Meet Man Who Once Surpassed Ambani, Adani & Tata In Wealth—Now Lives In Rented Flat Due To….
photoDetails english 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. Updated:Jun 19, 2025, 05:20 PM IST From Billionaire to Renter 1 / 8 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? 2 / 8 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 3 / 8 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 4 / 8 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 5 / 8 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 6 / 8 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 7 / 8 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 8 / 8 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.
India.com
28-04-2025
- Business
- India.com
Meet Man, Once Wealthier Than Mukesh Ambani And Gautam Adani Now Lives In Rented Apartment Due To...
photoDetails english 2892459 Updated:Apr 28, 2025, 04:36 PM IST Once Richer Than Ambani and Adani! 1 / 8 There was a time when Vijaypat Singhania, the former chairman of Raymond Group, was counted among India's wealthiest, even ahead of Mukesh Ambani and Gautam Adani. However, life took an unexpected turn, and today, he lives in a modest rented apartment, far from the luxury he once enjoyed. The Man Who Built Raymond 2 / 8 Born on October 4, 1938, Vijaypat Singhania played a major role in transforming Raymond from a small textile mill into a global fashion powerhouse. He led the group from 1980 to 2015, expanding its reach across international markets and making it a household name in India. The Turning Point in His Life 3 / 8 In 2015, Vijaypat decided to step down and hand over the leadership of Raymond Group to his son, Gautam Singhania. As part of the transition, he also generously gifted his entire 37% stake in the company to Gautam — a decision that would later have painful consequences for him. A Father-Son Relationship Gone Sour 4 / 8 What started as a smooth succession plan soon turned into a bitter family feud. By 2017, Vijaypat accused Raymond Ltd of failing to hand over a promised luxurious duplex apartment in Mumbai's iconic JK House. The trust between father and son began to crumble, leading to public disputes. Fall From Grace 5 / 8 In a further blow, Vijaypat Singhania was stripped of his title as chairman emeritus of Raymond in 2018. Once the face of the brand, he found himself sidelined and isolated, watching from a distance as the empire he helped build continued to flourish without him. A Life of Achievements Beyond Business 6 / 8 Apart from his business successes, Vijaypat has an adventurous spirit. He set world records in aviation, including a remarkable microlight flight, earning the Tenzing Norgay National Adventure Award in 2001. In 2006, he was honored with the Padma Bhushan, India's third-highest civilian award. From Author to Aviator 7 / 8 Vijaypat Singhania has also made his mark as an author, penning books about his life experiences, including his love for flying. His achievements were further recognized when he received an honorary Ph.D. from the London Institute of Technology & Research. Raymond Group Today 8 / 8 Despite the family feud, Raymond Group continues to thrive under Gautam Singhania's leadership. With interests across textiles, real estate, and engineering, Raymond remains a strong player in both domestic and global markets, currently valued at around Rs 9,478 crore.
