Latest news with #VijaypatSinghania
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.
Indian Express
28-05-2025
- Entertainment
- Indian Express
‘He threw a pencil at me': Arjan Bajwa recalls ex-Raymond chairman, producer Vijaypat Singhania launching him; how he weathered feud with son Gautam Singhania
Actor Arjan Bajwa recently spoke about his association with Vijaypat Singhania, ex-Chairman and Managing Director of the Raymond Group. The actor recalled his first meeting with the business tycoon on the sets of his debut Hindi film Woh Tera Naam Tha, which marked Vijaypat Singhania's first production venture. In a recent interaction, Arjan also shared the deep bond he shares with Singhania, a relationship that has continued to this day, despite the latter facing a tough time after his fallout with his son Gautam Singhania. Speaking to Siddharth Kannan about his first encounter with Vijaypat Singhania, Arjan shared, 'During the audition of Woh Tera Naam Tha, I was standing in front of the camera and was surrounded by people who were telling me what to do, and I see a man standing behind the camera and I am trying to figure out where have I seen him before? He was standing, wearing a safari suit and smiling at everyone. I thought to myself, 'Is that Vijaypat Singhania?' I was thinking what is he doing at auditions.' He went on to say, 'Somebody then made me meet Vijaypat Singhania and I got to know that he is the producer of the film. I was confused as to why is he producing our film? Then I got to know that he has entered film production and this film is his debut as a producer. Then I realised this a big team.' Recalling their first conversation and how Singhania schooled him, Arjan shared, 'Vijay ji asked me where all I have travelled and I told him. He is a very intelligent man. He asked me where is Monaco? And I thought he is asking about Macao. I told him 'near Hong Kong' and he had a pencil in his hand and he threw that pencil at me. I got scared. Then I realised he has a lot of knowledge and we started talking about the world, travel and aviation. We would sit for hours and talk while the shoot was on. He would draw diagrams for me, so a lot that I know about aviation is because of him.' For the unversed, Vijaypat Singhania had a feud with his son Gautam Singhania after he gifted his entire 37.17 percent stake in Raymond to him in 2015. However, in 2017, tensions between the two arose after Vijaypat Singhania alleged being denied possession of the duplex at JK House, the Singhania family-owned property in South Mumbai. A report in The Economic Times claimed that Vijaypat Singhania had to live in rented accommodation in Mumbai, and that the once-prominent industrialist no longer owned a car or had a driver. Despite Vijaypat Singhania's strained relationship with his son, Arjan revealed that he has stayed in touch with the veteran industrialist. He shared, 'I think everybody knows about it but considering that it is a family matter, I leave it at that. He is doing good, I went to his house, I keep visiting him. A while back I had asked him something about aviation and he took my class for one hour, explaining me things on paper.' When asked if Vijaypat Singhania gets emotional after his fallout with his son, Arjan responded, 'No, he is a very strong man.'
India.com
27-05-2025
- Business
- India.com
Meet man who was once as rich as Mukesh Ambani, lived in luxurious house, owned Rs 120000000000 company, now living on rent, says his biggest mistake…
(Photo from 'An Incomplete Life: The Autobiography') New Delhi: In business and life, you never know when something will happen. That's why it is said that no matter how much you earn, you should have a simple house to live in and enough money to sustain yourself for several years. Every person engaged in business should keep this portion of money completely separate for themselves. Today's story is about a businessman who made his presence felt in every household across the country through his brand. He was so wealthy that he could overshadow today's Mukesh Ambani. But now, he is in need of every single penny. The business was started in 1940 by Vijaypat Singhania, the owner of Raymond. In 1940, Kailashpat Singhania purchased a textile mill in Thane, Maharashtra, and renamed it Raymond Mill. Focusing on fabric, he initially produced inexpensive clothing and opened Raymond's first showroom in Mumbai in 1958. Gradually, Raymond's business flourished to a worth of Rs 12,000 crore, and at least during wedding occasions, Raymond's fabric was found in every household across the country. In 1986, the company launched a perfume brand named Park Avenue alongside its fabric. The Raymond Group played a significant role in becoming a global brand. The founder of the Raymond Group, Kailashpat Singhania, handed over the reins of the company to his nephew, Vijaypat, in 1980. Vijaypat Singhania was the former chairman and managing director of the Raymond Group. Vijaypat played a crucial role in turning the Raymond Group into a global brand. A mistake by Vijaypat Singhania took everything away. Having expanded the business internationally, Vijaypat Singhania transferred all shares of Raymonds to his son, Gautam Singhania, in 2015 when they were worth Rs 1000 crores. Handing everything over to his son proved to be a mistake. After that, there was a dispute between Vijaypat Singhania and his son Gautam Singhania regarding a flat. Their relationship soured, and the dispute escalated to the point where Gautam made his father homeless. Vijaypat Singhania left his luxurious home, the 37-storey JK House in Malabar Hills in Mumbai. Out of necessity, he is now living in a rented place in the Grand Paradi Society in South Mumbai. The facilities of a car and driver have also been taken away from Vijaypat Singhania. He says he made biggest mistake by passing on all the property to his son.
India.com
28-04-2025
- Business
- India.com
Meet man, was once richer than Mukesh Ambani, Gautam Adani, Ratan Tata, Narayana Murthy, had luxurious house, now lives in a rented flat due to…, name is…
Vijaypat Singhania, the former chairman of Raymond Group Meet man, was once richer than Mukesh Ambani, Gautam Adani, Ratan Tata, Narayana Murthy: Vijaypat Singhania was born into the prestigious Singhania family. He led the famous Raymond Group from 1980 to 2000 and became a global powerhouse in the textile and fashion industry. Most interestingly, there was a time when Vijaypat Singhania, the former chairman of Raymond Group, was counted among India's wealthiest but now, the times have no changed and he now lives in a rented apartment. Here are all the details you need to know about Vijaypat Singhania and his journey. Who is Vijaypat Singhania? Once upon a time, Vijaypat Singhania was even ahead of Mukesh Ambani, Ratan Tata, Narayana Murthy and Gautam Adani in terms of wealth. However, life took an unexpected turn, and as of today, Singhania lives in a modest rented apartment. Reports suggest that after his uncle's death, Singhania encountered internal strife, with his cousins vying for control of the company. However, the most intense conflict emerged later when he chose to split his business between his two sons, Madhupati and Gautam Singhania. How Vijaypat Singhania's empire declined! Madhupati eventually relocated to Singapore, while in 2015, Vijaypat transferred his 37% stake in Raymond to his younger son, Gautam. Their relationship quickly deteriorated afterward, resulting in Vijaypat being forced out of the family home and facing financial difficulties. Apart from his business skills, Singhania is a celebrated aviator and was inspired by the legend JRD Tata. Vijaypat received India's third-highest civilian award, the Padma Bhushan, in 2006, and was honored as an Honorary Air Commodore by the Indian Air Force in 1994. Due to his famous achievements, Vijaypat Singhania received a honorary Ph.D. from the London Institute of Technology & Research. Vijaypat Singhania's legacy Despite the many highs and lows, Vijaypat Singhania's legacy as the visionary who turned Raymond into a household name endures.
