Indian billionaire businessman, Nusli Neville Wadia, better known as Nusli Wadia is one of the biggest names in the business world. The business magnate is the chairman of the successful Indian conglomerate, Wadia Group. Under the umbrella of Wadia Group, a series of renowned companies have been leading the lines in several industries for decades. One company that comes under the Wadia Group, and is one of the oldest FMCG companies in India is Britannia.
It was in 1970 when Nusli Wadia was appointed as the joint managing director of the Wadia Group. Since his appointment, he has steered the Wadia Group towards remarkable industry achievements.
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From the cookie-making industry to the aviation business, Nusli managed to take the Wadia Group to new heights with his visionary approach. However, there are still a series of unknown facts about Nusli Wadia that every business enthusiast needs to know, as it speaks volumes about the legacy of Wadias in the Indian business world.
The history of the Wadia family is quite interesting and dates back to the 18th century. Even before venturing into the FMCG industry with Britannia, the Wadia family had a notable presence in the shipbuilding industry. According to Forbes, Lovji Nusserwanjee Wadia was the one, who founded the shipping company back in 1736. The iconic businessman went on to construct 355 ships under his company, including the British Navy's initial vessels outside England.
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For the uninitiated, Lovji Nusserwanjee Wadia also expanded his endeavours by securing a contract with the British East India Company, leading to the construction of ships and docks in Bombay (now Mumbai). This rich history in shipbuilding laid a strong foundation for the Wadia family's future successes in various industries.
The Wadia Group’s legacy needs no introduction, and over the period of two centuries, the Wadia Group has made a significant presence in the business sector. Out of all the companies under the Wadia Group, Bombay Dyeing and Manufacturing Co. Ltd and Bombay Burmah Trading Corp. Ltd (BBTC) have a history of more than 100 years.
According to a report in Livemint, Bombay Burmah Trading Corp. Ltd (BBTC) is the second Indian company to be listed on the BSE, which is Asia's oldest stock exchange. This highlights the Wadia Group's enduring presence and contribution to India's business landscape.
As per a report in Livemint, Indian businessman, Neville Ness Wadia became a part of the Wadia Group back in 1952, and after his passing, it was his son, Nusli Ness Wadia, the renowned billionaire and current chairman of the Wadia Group, who joined the family business in 1977.
Nusli Wadia is happily married to Maureen Wadia, who is a former air hostess. Maureen currently plays a significant role as one of the organisers of the Miss India beauty pageant. Talking about children, the stunning couple is blessed with two sons, Ness Wadia and Jehangir Wadia. Both the sons have roles within the Wadia Group in different departments. As per the reports, Ness Wadia holds the position of managing director at Bombay Burmah Trading Corporation.
There was a time when Nusli Wadia’s son, Jehangir Wadia held prominent positions as the Managing Director of Go First, Bombay Dyeing, and Bombay Realty. Not only this, the young and dynamic entrepreneur also served as a Director on the Boards of various renowned companies, including Britannia Industries, Bombay Burmah Trading Corp. Ltd, and Wadia Techno-Engineering Services Limited, among others.
According to The Times Of India, there came a point in Jehangir Wadia’s career when he resigned as the Managing Director of Go First and stepped down from his board positions in Britannia Industries, Bombay Burmah Trading Corp, and other listed companies. The exact reasons are still under wraps, and only rumours of a family feud are in the media corridors.
Born on February 15, 1944, in Bombay (now Mumbai), Nusli Wadia is the son of Neville Wadia and Dina Wadia. Many may not know that his maternal grandfather is the late Muhammad Ali Jinnah, the founder of Pakistan.
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Acquiring Britannia was one of the biggest achievements of the Wadia Group. However, it wasn’t a cakewalk for the Nusli Wadia, as US-based RJR Nabisco Inc originally owned it. The idea to buy Britannia proved challenging even for a businessman of Nusli Wadia’s stature. In order to pursue the acquisition, Nusli Wadia sought the assistance of his NRI friend and businessman K. Rajan Pillai, who had connections with the management company.
According to a report in Livemint, K. Rajan Pillai's involvement took an unexpected turn when he was appointed as the chairman of Britannia, and his offer was ultimately rejected. Subsequently, Pillai faced allegations of fraud and was subsequently imprisoned. Eventually, it was Nusli Wadia, who turned out to be the most suitable man to buy the company. The business tycoon joined hands with a new partner in Danone, and in the 1990s, Nusli Wadia successfully took over Britannia, marking a significant milestone for the company.
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According to Bloomberg, Nusli Wadia's net worth is estimated to be around 7.90 billion USD, which amounts to approximately Rs. 60,000 crores. This substantial net worth signifies Nusli Wadia's significant wealth and financial success.
There’s no denying that Nusli Wadia’s achievements and entrepreneurial endeavours have contributed to his impressive net worth. However, the most remarkable thing about him is that he took the name of the Wadia family to even greater heights, making his father and forefathers proud.
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