From the Editor
- The Murugappa family controls the Murugappa Group, a $9 billion (revenue) conglomerate founded in 1900 as a money-lending firm in Myanmar.
- The group has 29 businesses, including nine listed companies, making abrasives, auto components, bicycles, fertilizers and sugar.
- The group's marquee brands include BSA and Hercules for bicycles and Parry for sugar.
- Fourth-generation family member M.M. Murugappan (pictured) is chairman of group companies CUMI and Chola MS General Insurance.
- Vellayan Subbiah, another member of the fourth generation, is chairman of Cholamandalam Investment and Finance, the group's non-banking finance arm.
Wealth History
HOVER TO REVEAL NET WORTH BY YEAR
Forbes Lists
Personal Stats
- Source of Wealth
- Diversified
- Residence
- Chennai, India
- Citizenship
- India
Did you know
Ten members across the fourth and fifth generations work with the group.
The Murugappa family shifted to India in 1935 before the Japanese invasion of Myanmar.
Fourth-generation scion Valli Arunachalam, who was fighting for a board seat in the family's holding company, settled out of court In September 2023.
The group is working on a split among three family factions. It has not yet arrived at an amicable resolution.
Related People & Companies
More on Forbes
9 minutes ago
Trading Brandon Nimmo For Marcus Semien Is Not About Sentiment For The New York Mets And Texas Rangers
The Mets are trading Brandon Nimmo to the Texas Rangers for Marcus Semien in a deal showing it is not about sentiment for both sides.
41 minutes ago
Electricity Prices Will Shoot Up Due To U.S. Federal Mandates
The price surge of new electricity in the next few years, plus general pass-along tariff increases, may seriously curtail Donald Trump’s promise to reduce inflation.
1 hour ago
College Football Coaching Carousel Tracker: Cal Fires Justin Wilcox
The College Football Coaching Carousel Tracker is your guide to the hirings, firings and retirings of head coaches at the FBS level.
2 hours ago
Yankees Fan Gets 4-Word Message From Tarik Skubal After Trade Speculation
The New York Yankees got a clear update on how the Detroit Tigers’ superstar pitcher feels about team loyalty.
2 hours ago
The Green Bay Packers Are In A Dogfight For NFC North Supremacy
The Green Bay Packers, Chicago Bears and Detroit Lions are all separated by just one game in the NFC North.
2 hours ago
AEW Full Gear 2025: The Biggest Questions Coming Out Of The Show
AEW Full Gear returned with huge moments, multiple championship shake-ups, and enough blood to underline the intensity of every match on the card.
2 hours ago
Mets Expected To Cut Ties With Jeff McNeil After Adding $175M 3-Time All-Star
The New York Mets are expected to follow up a surprising blockbuster trade by moving on from another long-time roster staple.
Oct 8, 2025
India’s Richest Man Adds Fizz To Country’s Cola Market With Relaunch Of Iconic Brand
India’s cola wars are bubbling over with the revival of homegrown brand Campa Cola by Reliance Consumer Products, a unit of Mukesh Ambani’s Reliance Industries.
Oct 8, 2025
Brothers Behind Indian Snack Brand Haldiram’s Return To Ranks Of India’s 100 Richest
The third-generation brothers behind Haldiram’s, a popular Indian snack brand, return to the ranks of the country’s richest after a four-year gap, following the sale of a 10% stake in their family business to Singapore state-owned investor Temasek, in a deal that valued it at $10 billion.
Oct 8, 2025
Billionaires Plug Into India’s Electricals Industry To Tap Demand Surge
India’s infrastructure buildout and buoyant property sector have lifted demand for everything from cement to electrical equipment.
Oct 8, 2025
Red-Hot IPO Of Solar-Panel Maker Waaree Puts Doshi Brothers Among India’s 100 Richest For First Time
The heavily oversubscribed IPO of solar panel maker Waaree Energies in October 2024 propelled the four Doshi siblings into the ranks of the country’s richest for the first time. Since listing at a 70% premium to the issue price, the stock is up more than 50%, giving them a combined net worth of $7.5 billion.
Oct 8, 2025
Billionaire Brothers Aim To Scale Up Torrent Pharma With $1.3 Billion Stake Purchase In Rival
Brothers Sudhir and Samir Mehta are riding the momentum of India’s ambition to become the world’s pharmacy.
Oct 8, 2025
Pharma Billionaire Dilip Shanghvi Positions Next Gen For Succession
Speculation about succession at Sun Pharmaceutical Industries, India’s most valuable drug maker, was put to rest this year when its billionaire founder, Dilip Shanghvi, made some changes at the top.
Oct 8, 2025
Indian Heiress Is On A Mission To Modernize Her Family’s Storied Consumer Business
Nyrika Holkar is revamping Indian consumer goods giant Godrej & Boyce in a bid to woo Gen Z and help fend off Swedish rival Ikea.
Oct 8, 2025
India’s 100 Richest 2025: Indian Tycoons Face Reality Check As Wealth Drops By $100 Billion
The U.S. tariff shock and a weaker rupee extract toll, shrinking wealth by $100 billion.
Oct 12, 2022
Murugappa Family Scions Change Lanes To Electric Vehicles
Their diversified group sees a future in EVs, as profits power a 24% increase in the family fortune to $5.8 billion.
Oct 26, 2011
India's Murugappa Group: Prescription For Growth
Murugappa Group's A. Vellayan is taking his century-old family conglomerate places.
