Vivek Chaand Sehgal
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Age58
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Earnings$ 2.35 Billion
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Source of earningsAuto Parts
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Marital StatusMarried
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Children2
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ResidenceDelhi
#36 India Rich List 2014
#77 India Rich List Rank 2013
The autoparts tycoon became a billionaire this year as shares of his Motherson Sumi Systems doubled on a 55 percent rise in net profits. New information on private holdings also added to Sehgal's wealth. He co-founded the $6.1 billion (revenues) Samvardhana Motherson Group in 1975 with his mother-hence the name Motherson-starting off in trading and going on to manufacture wiring harnesses for cars. Now India's leading auto components manufacturer, Motherson Sumi supplies everything from door panels to interior trims to major automakers around the world. The interiors of the new 911 Porsche Carrera are from Motherson as are the cockpits for Daimler Benz's Mercedes Benz C, S and E class cars. Motherson's growth accelerated after two major European acquisitions in 2009 and 2011. In August, Sehgal acquired the wiring harness business of US firm Stoneridge. Motherson Sumi, which appeared for the second time on Forbes Asia's Fab 50 list this year, is one of 230 companies in the Samvardhana Group. Sehgal, who is an Australian citizen and is being helped by son Laksh Vaaman, travels nearly 300 days in a year.
