Meet Man Who Once Surpassed Ambani, Adani & Tata In Wealth—Now Lives In Rented Flat Due To….
Once one of India's richest businessmen—richer than Ambani, Adani, and Tata—Vijaypat Singhania built the Raymond empire into a global brand. But after handing over his stake to his son Gautam, a bitter family feud left him with nothing. Today, at 86, the former tycoon lives in a rented flat, far from the lavish life he once led. https://zeenews.india.com/photos/business/meet-man-who-once-surpassed-ambani-adani-tata-in-wealth-now-lives-in-rented-flat-due-to-2918524 Updated:Jun 19, 2025, 05:20 PM IST From Billionaire to Renter
1 / 8
While names like Mukesh Ambani, Gautam Adani, and Narayana Murthy dominate India's billionaire club today, there was a time when one man outshone them all in wealth and influence. Meet Vijaypat Singhania — once a textile tycoon, now 86 and living in a rented flat after a heartbreaking family fallout.
(Image credit: @divya_gandotra/x & Social Media) Who Is Vijaypat Singhania?
2 / 8
Vijaypat Singhania was the chairman of the Raymond Group from 1980 to 2000. He turned the homegrown brand into a global name in the textile and fashion industry. Born into the wealthy Singhania family, he carried forward the legacy of his uncle, G.K. Singhania. The Business Empire He Built
3 / 8
Under his leadership, Raymond became synonymous with premium suiting in India. From small-town outlets to international showrooms, Raymond became a household name thanks to his vision and business acumen. A Family Feud That Changed Everything
4 / 8
Trouble began when Vijaypat tried to divide the business between his two sons — Madhupati and Gautam Singhania. While Madhupati distanced himself by moving to Singapore, Vijaypat handed over his 37 per cent stake in Raymond to Gautam in 2015. What followed was a bitter fallout. Ousted By His Own Son
5 / 8
After transferring his shares, the relationship between Vijaypat and Gautam soured. Eventually, Gautam ousted him from the family home. With no control over the company or assets, Vijaypat was left without wealth or a place to stay. Now Lives in a Rented Apartment
6 / 8
Today, the man who once owned jets, mansions, and held the reins of a billion-dollar company lives in a rented flat. In an emotional interview, he shared how his once-lavish lifestyle is now a memory, and how personal betrayal hurt more than financial loss. More Than a Businessman
7 / 8
Vijaypat is also an acclaimed aviator. Inspired by J.R.D. Tata, he's a trained pilot and was honored with the Tenzing Norgay National Adventure Award (2001) and the Padma Bhushan (2006). He was also named Sheriff of Mumbai in 2006 and made Honorary Air Commodore by the Indian Air Force. Legacy Beyond Loss
8 / 8
Despite the setbacks, Vijaypat's legacy remains strong. He made Raymond a global brand, earned respect as a leader and aviator, and inspired many with his resilience. His story is a reminder that wealth can be fleeting, but legacy and dignity endure.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
Raymond Realty posts standalone profit of ₹26.93 crore in Q1 FY26
NEW DELHI: Raymond Realty (RRL), the real estate arm of Raymond Group , has reported standalone profit after tax of ₹26.93 crore during the quarter ended June 30, 2025. It had registered standalone total income of ₹334.34 in Q1 FY26. The company witnessed booking value of ₹306 crore while collections were at ₹374 crore in Q1 FY26. Its total gross development value (GDV) was ₹ 40,000 crore and it continues to be a net-debt free company with ₹233 crore in net cash surplus. RRL officially listed as separate entity on the Indian stock exchanges on July 1, 2025, following its strategic de-merger from Raymond. It has about 40 acres of land parcel in Thane currently under development which translates to four million sq ft of carpet area with a potential revenue of ₹ 9,000 crore, of which, it has already sold ₹7,850 crore and collected an amount of ₹ 6,000 crore so far. Remaining 60 acres of unlaunched inventory which translates to 7.4 million sq ft of carpet area will be launched over the next 7-8 years. The company said that it plans future expansion through an asset-light business model via the joint development agreement (JDA) route. It currently has a grand total of six JDA's in its portfolio, of which, one is currently launched and under development. It expects to launch about three to four out of the remaining five JDA's over the next 6-9 months and balance over the next 12-18 months.
India.com
16 hours ago
- India.com
Weekly Finance Horoscope August 6-12: Unexpected Financial Benefits May Come Your Way Libra; Avoid Making Hasty Financial Decisions Virgos
photoDetails english 2941533 Updated:Aug 05, 2025, 08:05 AM IST Aries 1 / 12 Assistance from a powerful figure could lead to lasting success in your professional life. Your sharp mind will help uncover new income opportunities. Starting a new venture may prove rewarding. Taurus 2 / 12 A significant shift at work is likely toward the weekend, and adjusting to it might take some time. Financial progress is on the horizon, but it's essential to remain tactful in all monetary interactions. Gemini 3 / 12 Achieving career growth will require greater effort. Focus your energy wisely. Financially, expenses might outweigh income, so be prudent in handling cash and transactions. Cancer 4 / 12 This week is favorable for professional growth and business. A long-pending task may finally reach completion. Financially, things are set to improve steadily. Leo 5 / 12 Your growing rapport with influential individuals may open the door to lucrative ventures. Strategic planning will bring fruitful results. Financial conditions will show marked improvement. Virgo 6 / 12 Support from trusted colleagues or friends could help propel your career forward. Avoid making hasty or emotionally driven financial decisions. Libra 7 / 12 There's a high likelihood of advancement in your profession or business. Sudden and unexpected financial benefits may come your way. Scorpio 8 / 12 This week may mark a major turning point in your career. Wise decisions now will ensure long-term rewards. Financial stability is likely, but it's best to curb avoidable expenses. Sagittarius 9 / 12 If you maintain high morale, continued growth and gains are expected in your profession or business. Success in real estate, land, or property matters is highly probable. Capricorn 10 / 12 Workplace challenges will begin to resolve, clearing the way for smoother progress. A surprise financial gain could significantly boost your economic status. Aquarius 11 / 12 This is not the right time for risky business investments. Be especially alert in partnership dealings, as deception could be a concern. Pisces 12 / 12 You may face some fluctuations in your professional life. Staying composed and focused will help navigate them. Overspending could strain your budget, so manage finances carefully, especially in business collaborations. (DISCLAIMER: The information and data contained is purely based on Astrologer's predictions for information purposes only and does not reflect the views of Zee News. Any prediction or other information cannot be substituted as a financial advice. For portfolio, financial planning and other personal finance decisions, speak to a professional/expert on finance.)
India.com
18 hours ago
- India.com
Horoscope Today, August 5 By Astrologer Sundeep Kochar: Aries, You're Surrounded By Blessings
photoDetails english Daily Horoscope Predictions: Check out the astrology forecast for all 12 zodiac signs by ace astrologer Dr Sundeep Kochar. As you begin a new journey, find out what the stars have in store for you today. There are twelve zodiac signs and each has its distinct features. Be it Aries, Taurus, Gemini, Cancer, Leo, Virgo, Libra, Scorpio, Sagittarius, Capricorn, Aquarius, or Pisces — each of the signs has something unique to tell. The astrological predictions are by Dr Sundeep Kochar. (Photo Courtesy: Pixabay) Updated:Aug 05, 2025, 05:26 AM IST Aries 1 / 12 You're surrounded by blessings today. Let positive thoughts guide your day. Relax with loved ones, and if you're up for it, squeeze in a workout to elevate energy and spirit. Taurus 2 / 12 A slow start brightens with love from friends and family. Unexpected work might pop up, but you'll handle it gracefully. Health concerns ease, and your energy gradually returns with comfort. Gemini 3 / 12 Home reflections inspire clarity. It's a great day to plan your next move, career or personal. Couples enjoy deeper conversations that strengthen their connection and help align their future dreams with each other. Cancer 4 / 12 The investment stars align; make wise financial decisions today. Past returns show promise. Love is lucky too: singles meet someone new, and couples experience joy, harmony, and shared abundance. Leo 5 / 12 Take a break from business today. Rest and reconnect with family or friends. Investment news may arrive with positive results. Students, reflect on your next academic step. It's a good time. Virgo 6 / 12 Negative thoughts may visit early, but don't let them stay. Meditation clears the air. You'll feel creative later, try a new hobby. Singles, skip romance today and enjoy self-nourishment instead. Libra 7 / 12 The moon brings warmth and blessings today. Positive news in your personal life arrives. Couples may begin marriage conversations. Children may need your time, love, patience, and thoughtful guidance. Scorpio 8 / 12 Solitude brings comfort today. Skip the crowd, rest at home, and enjoy inner peace. A positive update from work lifts your spirits. Plan ahead to keep your week stress-free. Sagittarius 9 / 12 Family care takes focus today. Minor health issues pass easily with rest and steam. Stay indoors and recharge. Past investments bring good news. New financial decisions are also well-supported. Capricorn 10 / 12 Listen to your inner voice, it has your answers. Couples may find a new home. Singles, be open to meeting someone new. Elders' blessings guide you through any lingering doubts. Aquarius 11 / 12 Love and attention from family boost your spirits. It's a great day to sort finances and invest for future security. The letter L brings luck, so watch for its signs. Pisces 12 / 12 Surround yourself with warm, loving energy. Good things are coming. Job seekers may receive exciting offers. Couples benefit from quiet time together, reconnecting in a space of mutual understanding.
