The ninth richest billionaire in the country, Poonawalla boasts a home worth ₹750 crore
The ninth richest billionaire in the country and the richest man in Pune, Cyrus Poonawalla is the owner of the Serum Institute of India, one of the largest private pharmaceutical enterprises in India, reported Forbes India.
Dr.Cyrus Poonawalla, started out as the son of a horse breeder, and now is one of the wealthiest individuals in the country.
Dr.Cyrus Poonawalla, started out as the son of a horse breeder, and now is one of the wealthiest individuals in the country. In 1966, he founded the Serum Institute of India, which is well-known for its critical work during the COVID-19 pandemic as one of the key vaccine manufacturers in the country.
The institute also produces 1.5 billion doses of vaccines for polio, the flu and measles annually, reported GQ India. He received a Padma Bhushan, one of the highest civilian awards in the country in 2022, in recognition of his work in the creation and distribution of vaccines.
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In fact, the SII holds the title of the world’s largest vaccine manufacturer for producing more vaccines than any other company globally. The company is now headed by Cyrus’s son Adar Poonawalla who has expanded the family’s business further into various fields.
According to the 2024 Hurun India Rich List, Cyrus Poonawalla as the chairman and managing director of the Cyrus Poonawalla Group, has accumulated wealth worth ₹2,89,900 crore, with the SII being worth ₹2,04,300 crore.
Apart from the SII, he also holds major stakes in Poonawalla Fincorp, a non-banking financial company engaged in consumer and MSME financing, and The Ritz-Carlton hotel in Pune. In keeping with his father Soli Poonawalla’s legacy, he also holds a massive farm that breeds prize-winning horses.
One of the prize jewels of his empire is his luxurious seaside mansion in Mumbai’s Breach Candy areas which he acquired in 2015 from the United States government for ₹750 crore, making it one of the most expensive real estate deals in India.
Recently, his son Adar Poonawalla debuted into the film business by buying a 50 per cent stake in filmmaker Karan Johar’s Dharma Productions for ₹1,000 crore.
India is home to an ever-increasing number of billionaires, and Pune boasts one of the wealthiest individuals in the country Cyrus Poonawalla.
With a net worth of over Rs 2,04,300 crore ($24.2 billion), he is not only the richest person in Pune but also ranks as the ninth richest billionaire in India, according to Forbes.
Poonawalla’s fortune comes primarily from his role as the founder, chairman, and managing director of Serum Institute of India, the world’s largest vaccine manufacturer by volume. Founded in 1966, Serum Institute produces over 1.5 billion doses of vaccines annually, including vaccines for polio, flu, and measles. His company played a pivotal role in global immunization efforts, further enhancing his wealth.
According to the 2024 Hurun India Rich List, Cyrus Poonawalla’s wealth has seen a dramatic rise, increasing by 36%, reaching Rs 2.78 lakh crore. This surge secured his position as the third richest Indian overall. Besides his vaccine empire, Poonawalla has significant stakes in Poonawalla Fincorp, a non-banking financial company (NBFC), and owns The Ritz-Carlton in Pune.
The Poonawalla family’s assets also include a massive stud farm that breeds prize-winning racehorses, maintaining Cyrus’s ties to his roots in horse breeding. His son, Adar Poonawalla, who joined Serum Institute in 2001 and became CEO in 2011, has diversified their investments. Notably, Adar recently acquired a 50% stake in Karan Johar’s Dharma Productions for Rs 1,000 crore.
In December 2023, Adar made headlines by purchasing one of the most expensive properties in London, Aberconway House, for a staggering £138 million (Rs 1,444 crore). Despite these international acquisitions, the Poonawalla family’s prime residence remains in Pune, where they own a luxurious 247-acre stud farmhouse worth Rs 750 crore.
Cyrus Poonawalla’s remarkable success reflects not only his business acumen but also his global influence in both the biotech and financial sectors, making him a towering figure in India’s billionaire landscape.
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