Srichand Parmanand Hinduja, also known as SP, the patriarch of Britain’s richest family, has died at the age of 87. The Hinduja Group released a statement announcing his death but did not disclose the cause. Hinduja was known as the co-founder and chairman of the multinational Hinduja Group, which comprises public companies in India and has interests in various sectors, including banking, chemicals, software, and commercial vehicles. Hinduja Group employs over 200,000 people across 30 countries and was founded by Parmanand Deepchand Hinduja, the father of Srichand and his younger brother Gopichand.
Born in Mumbai in 1935, Hinduja entered the family business as a teenager following the success of his father’s merchant enterprises in textiles, saffron, tea, carpets, and dried fruits. Along with Gopichand, he moved the enterprise’s operations from Iran to London after their father’s death in 1971. Under his leadership, Hinduja Group pledged to invest up to $10 billion in the UK over the next decade. Hinduja was instrumental in conceptualizing IndusInd Bank, one of India’s first private banks.
For the fourth time in 2022, Hinduja and his brother Gopichand jointly topped The Sunday Times Rich List with an estimated net worth of £28.5bn ($36bn), which includes the value of valuable property in central London. In 2005, they were exonerated by the Delhi High Court over the Bofors weapons bribery scandal due to a lack of evidence.
Hinduja was not only known for his business acumen but also his flamboyant lifestyle. He lived in one of the UK’s most expensive homes, Carlton House Terrace, near Buckingham Palace, where his art collection, which included works by Rubens, Gainsborough, and Rembrandt, was worth nearly £1bn ($1.4bn).
Despite his wealth, Hinduja was also known for his philanthropy, politics, and spirituality. Hinduja’s family has had close relationships with many world leaders, ranging from the late Shah of Iran to George Bush Sr and Tony Blair. SP Hinduja leaves behind a vast legacy and will always be remembered as a visionary and mentor in the business world.
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