logo
From stock trading to smart business ideas: How Vivek Oberoi's dad's 6 words pushed him to Rs 1200 crore net worth

From stock trading to smart business ideas: How Vivek Oberoi's dad's 6 words pushed him to Rs 1200 crore net worth

Economic Times20-06-2025
Financial Wisdom from the Actor
MORE STORIES FOR YOU

« Back to recommendation stories
I don't want to see these stories because
They are not relevant to me
They disrupt the reading flow
Others
SUBMIT
Indian actor on Forbes' 40 Under 40 Heroes of Philanthropy
Vivek Oberoi — an actor once seen simply as Bollywood's romantic lead — has quietly forged a parallel empire in business, transforming his image from celluloid star to a successful entrepreneur. What makes his story stand out isn't glamour or inheritance, but a childhood lesson in independence and grit. As the son of actor-politician Suresh Oberoi, Vivek used early mentorship not as a handout but as a push toward self-reliance, leading him to build, reportedly a massive Rs 1,200 crore net worth through effort, sacrifice, and vision.Indian Express, citing the Dubai Property Insider podcast, shared that Vivek's father didn't finance him, but educated him. As a 10-year-old, he'd draft business plans and go door-to-door selling products, learning entrepreneurial basics long before most kids understood pocket money. His father's mantra was that he was rich, but his son, Vivek, was not, and he would have to build the wealth on his own. This advice propelled a teenager who raised $3 million for his first startup at 19, sold it by 23, and has since helped take nine companies public, with plans for four more.Before entering entertainment, Vivek Oberoi explored voiceovers and hosting gigs. By 15, his entrepreneurial drive had taken root. He trained with stockbrokers, built a portfolio by 16, and even tried his hand at commodity trading. This early business win at 19 gave him the confidence to juggle entrepreneurship alongside a demanding acting career, laying the foundation for his future success in both fields.Previously, Vivek shared practical advice about financial security: save at least three times your annual income, live within means, and build an investment cushion for three–five years. He warned against impulsive, high-return schemes, advocating for safe instruments like RBI bonds. For him, stability and mental peace from smart investments outweigh the risk of chasing higher, but volatile, returns.As per Forbes, the actor is now the Chairman of Oberoi Family Office and Co-Founder of BNW Developments , is a serial entrepreneur redefining ultra-luxury real estate in the UAE with $7 billion in assets under development. He leads diverse investments across edutech, fintech, agritech, media, and sustainability, blending purpose with profitability. He is one of the Indian actors on Forbes' 40 Under 40 Heroes of Philanthropy list.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Karnataka govt offers 50% concession on pending traffic fines till September 12
Karnataka govt offers 50% concession on pending traffic fines till September 12

Indian Express

time11 minutes ago

  • Indian Express

Karnataka govt offers 50% concession on pending traffic fines till September 12

The Karnataka government Thursday announced a special concession scheme allowing vehicle owners to clear their pending traffic fines at half the original amount. According to the government order, a 50 per cent discount will be offered on fines registered under e-challans by the traffic police department that remain unpaid. The scheme will be valid from August 23 to September 12. 'Vehicle owners can check and settle their dues through multiple platforms, including the Karnataka State Police (KSP) app, the BTP ASTraM app launched by the Bengaluru traffic police, or by providing their vehicle registration number at the nearest traffic police station. Payments can also be made at the Traffic Management Centre and via the Karnataka One or Bangalore One portals,' said a government source. The government said the move is aimed at helping citizens clear long-pending challans while improving overall compliance with traffic rules. In 2023, the Karnataka government introduced the 50 per cent traffic fine concession scheme on three different occasions. The first phase was announced between February 3 and February 11, when the government offered a rebate on e-challan traffic violations for cases registered on or before February 11. Conceived as a one-time measure to clear the mounting backlog of unpaid fines, the scheme turned out to be highly effective. During this period, nearly 52 lakh cases were settled, and the state collected close to Rs 152 crore in fines. Following the overwhelming public response, the Karnataka State Legal Services Authority (KSLSA) recommended an extension of the scheme. Acting on this, the government issued an order to continue the concession from March 4 to March 18, providing citizens another opportunity to clear their pending challans at half the amount. Later in the year, the government decided to reintroduce the concession for a third time. On July 5, it announced that the 50 per cent rebate would once again be made available and kept the scheme open until September 9. Like in the earlier phases, this extension was also applicable only to cases registered on or before February 11, 2023.

States raise revenue loss concerns: GoM backs Centre's plan for GST rate rationalisation
States raise revenue loss concerns: GoM backs Centre's plan for GST rate rationalisation

Indian Express

time12 minutes ago

  • Indian Express

States raise revenue loss concerns: GoM backs Centre's plan for GST rate rationalisation

The Group of Ministers on Rate Rationalisation gave its in-principle support Thursday to the Centre's proposal to overhaul the Goods and Services Tax (GST) design, even as member states raised concerns about potential revenue loss on account of the rate rationalisation. Six days ago, Prime Minister Narendra Modi, in his Independence Day address, announced the next big phase of reforms under the GST regime by Diwali, a gift for the common man, small entrepreneurs and MSMEs, in terms of reduced tax burden. The Centre has suggested replacing multiple slabs – 5 per cent, 12 per cent, 18 per cent and 28 per cent – with a broad two-slab structure – 5 per cent and 18 per cent – in addition to a 40 per cent special rate for sin and demerit goods. States said they do not oppose the 'pro-people' proposal, but it may result in revenue losses that will ultimately leave them with less resources to spend on common people in their regions. While Bihar's Deputy Chief Minister and GoM convenor Samrat Choudhary spelt out the panel's support for the GST overhaul proposal, he said observations made by states will be referred to the GST Council. Detailed discussions on items will be taken up in the Council, he said. 'We have deliberated upon the Centre's proposal to remove the two GST slabs, we have given our support and recommendations. Now, the GST Council will decide. All states gave their views, there were some observations by some states. Those will be referred to the GST Council,' Choudhary said. The differing views and observations of states on revenue loss and concerns over profiteering by manufacturers and companies will be part of the note that the GoM will send to the Council along with the Centre's proposal. Some states were also of the view that the work done by the GoM over the last few years will now essentially be wasted as they would be simply handing over the Centre's proposal to the GST Council. 'We have neither approved nor rejected it. Centre cannot give its proposal directly to the Council, so we will be just handing over the Centre's proposal to the Council,' a top state government official told The Indian Express. States are learnt to have sent their suggestions for the GoM's note on a mechanism to compensate states that will address their revenue loss concerns. States are anticipating annual revenue loss of Rs 6,000-10,000 crore, the official said. West Bengal's Finance Minister Chandrima Bhattacharya echoed a similar view and said they are 'okay with the pro-people proposal' but it is not an agreement. The Centre's proposal has not outlined the figure for revenue loss on account of the GST rate rationalisation and the proposal should not move ahead without detailing a mechanism for compensating states for revenue loss. 'It's not an agreement in that way. If it's there, it is okay. If it is pro-people, then it's okay. But it has to be discussed in the Council's meeting also. There is no benefit in discussing it item-by-item in the GoM meeting. It will be discussed item-by-item in the (GST) Council meeting. While presenting a report to the GST Council, they will give a note of what we have said,' she said. Bhattacharya said no state had any issue in accepting the pro-people GST overhaul proposal. 'All states are pro-people. There is no doubt about it. It's nothing to talk about in politics. They are pro-people, let us take it for granted. But when the states lose their revenue, that also ultimately goes back to common people. That has to be looked into. That is what we have said,' she said. 'Because to give relief to common people should not mean that there isn't much left to spend on them after that, we have to think about that. That's why we have said that while you give the presentation, you must quantify it (revenue loss),' she said. She also said that ministers from BJP-ruled states have concurred with the suggestions. 'But we have said we are there, if it benefits people, we are okay. On the one hand it reaches people and on the other hand see what is the loss we (states) are facing. Ultimately if a state suffers any loss, that ultimately boils down to the suffering of the common man,' she said. Uttar Pradesh's Finance Minister Suresh Kumar Khanna said the Centre's proposal was welcomed by all member states saying it is in the interest of the common man. 'States were asking that they should be compensated for revenue loss. The revenue loss will be calculated. Ultra luxury goods and sin goods will attract 40 per cent,' he said. Revenue loss concerns of states stem from the plan to prune the list of items in the 12 per cent slab and shift them to 5 per cent. There is also a concern that most items the existing 28 per cent slab. The Centre plans to introduce a special rate of 40 per cent, which will apply only to 5-7 sin, demerit and luxury items. States revenue loss concerns stem from the plan to prune the list of items in the 12 per cent slab and shift them to 5 per cent. There is also a concern that most items in the existing 28 per cent slab will shift to 18 per cent slab except sin and demerit goods. The Centre plans to introduce a special rate of 40 per cent, which will apply only to 5-7 sin, demerit and luxury items. Some states have suggested amending the GST laws to allow for an additional levy going beyond the current cap of 40 per cent (20 per cent Central GST plus 20 per cent State GST). Some of the items right now attract GST of 60-70 per cent, Bhattacharya said, adding that the law should be amended to ensure that the current tax incidence, especially on sin goods, remains at the current level.

HUL names Niranjan Gupta CFO as Ritesh Tiwari moves to global role at Unilever
HUL names Niranjan Gupta CFO as Ritesh Tiwari moves to global role at Unilever

Mint

time12 minutes ago

  • Mint

HUL names Niranjan Gupta CFO as Ritesh Tiwari moves to global role at Unilever

Mumbai: Consumer goods major Hindustan Unilever Ltd (HUL) on Thursday announced the appointment of Niranjan Gupta as chief financial officer-designate and member of the HUL Management Committee, effective 1 September. Gupta will succeed Ritesh Tiwari, currently executive director, finance, and chief financial officer (CFO), who has been appointed global head of M&A and Treasury at Unilever Plc, effective 1 November. Tiwari will be based in London. Gupta will join the HUL Board on 1 November and report to Priya Nair, chief executive officer (CEO) and managing director (MD) of HUL. The appointment comes amid a series of senior management changes at the maker of Dove soaps and Vim bars. Last month, the company named Priya Nair as CEO and MD, effective 1 August, following Rohit Jawa's exit after a little over two years in the role. According to the company, Gupta began his career with HUL and spent two decades in leadership roles before moving to Vedanta Ltd, and later Hero MotoCorp, where he was elevated as CEO in 2023. 'Niranjan played a pivotal role in strengthening financial health, driving long-term strategy and forging partnerships, including a collaboration with Harley Davidson,' HUL said. Tiwari, who took charge as HUL CFO in 2021, led portfolio transformation initiatives, oversaw key acquisitions and disposals, and steered the demerger of the ice cream business into Kwality Walls (India) Ltd, paving the way for its independent listing. Over the years, several Indian executives from HUL have taken on prominent roles within Unilever Plc. Nitin Paranjpe, for instance, has held multiple leadership positions on t he Unilever Leadership Executive (ULE), including chief transformation officer and chief operating officer, and now serves as non-executive chairman of HUL. Leena Nair, another HUL veteran, was Unilever's chief human resources officer and a member of the ULE before moving on to become global CEO of Chanel. HUL, which reported turnover of ₹ 60,680 crore in FY25, up 2% year-on-year, and profit after tax of ₹ 10,644 crore (up 5% YoY), has seen several other leadership changes in the past year. In March, it appointed Rajneet Kohli, former CEO of Britannia Industries, as executive director, Foods. In December 2024, Vivek Mittal took charge as executive director, Legal and Corporate Affairs. Other recent management committee changes include Vipul Mathur (Personal Care) and Arun Neelakantan (Customer Development). On Gupta's appointment, Priya Nair said: 'I would like to thank Ritesh for his future-focused leadership and invaluable contribution to HUL. His elevation to a global role is a testament to HUL's strong leadership pipeline. I am pleased to welcome Niranjan back to HUL and am confident he will play a pivotal role in steering the company towards its next phase of growth.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store