Shashi & Ravi Ruia
Shashi & Ravi Ruia
At a Glance
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Age70(Shashi),65(Ravi)
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Earnings$ 5.9 Billion
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Source of earningsDiversified
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Marital StatusMarried(Both)
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Children2(Both)
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ResidenceMumbai/London
Forbes India Lists
#16 India Rich List 2014
#12 India Rich List Rank 2013
Profile
The brothers have been restructuring key holdings of their $39 billion (revenues) Essar Group. In June, they delisted their London-listed Essar Energy, at more than an 80 percent discount to its 2010 IPO price, after overcoming opposition to the move by the company's independent directors. Thereafter in July, they sold part of their US-based outsourcing firm Aegis to France's Teleperformance for $610 million. A month later, they inked a deal with Sunil Mittal's (ranked 10) Airtel and Africa's Safaricom to sell their remaining telecom asset, Kenya's YuMobile, for $120 million. So far, telecom has been their best bet giving them a five-fold return in a decade on their $1.2 billion investment a decade ago.
