Ramamurthy Thyagarajan, man who has Rs 1500000000000 net worth, has no phone, drives simple car worth Rs…, his business is…

Over the years, Shriram Group grew into a conglomerate with over 30 companies. As of August 2023, the group is valued at over USD 750 million, with its flagship company, Shriram Finance Limited, boasting a market value of around USD 8.5 billion.

New Delhi: Ramamurthy Thyagarajan is the man behind the Shriram Group. Listed amongst one of the most respectable figures in the business arena, Ramamurthy Thyagarajan’s business empire is worth Rs 1,50,000 crore. In this article, we will delve into the life of Ramamurthy and understand the reason behind his success.

Despite building an empire worth Rs 1,50,000 crore, Ramamurthy Thyagarajan leads a life of simplicity.
According to the reports, Ramamurthy lives in a simple house, drives a Rs 6 lakh car, and does not own a mobile phone, which he considers a distraction. The main source of his income comes by providing financial services to low-income borrowers who are often neglected by traditional banks, a business model that made him successful while staying grounded.

All You Need To Know About Ramamurthy Thyagarajan

• Ramamurthy Thyagarajan was born into a farming family in Tamil Nadu
• Ramamurthy studied mathematics in Chennai and then spent three years at the prestigious Indian Statistical Institute in Kolkata
• He started his career at New India Assurance Co., one of India’s largest insurers in 1961
• Over the next two decades, he gained experience in finance, working at Vysya Bank and JB Boda & Co., where he learned the ropes of the financial industry

Thyagarajan’s entrepreneurial journey began with an astute observation. He noticed a recurring pattern: individuals, often young truck drivers and small business owners, frequently sought loans from him to purchase trucks. Frustrated by the reluctance of traditional banks to lend to these lower-income individuals, he seized the opportunity. At 37, he co-founded Shriram Chits with AVS Raja and T Jayaraman, filling a critical void in the market.

The focus of Shriram Chits was to provide loans for commercial vehicles, which was a game-changer for underserved communities. This idea formed the foundation for Shriram Group’s success, which today serves around 11 million clients through its 3600 branches, over 70000 employees and 140000 agents with an AUM of over Rs 150,000 crores, according to the website, Shriram Group.

Growth of the Shriram Group

Since the establishment of the company, Ramamurthy Thyagarajan has worked relentlessly to expand his venture. Over the years, Shriram Group grew into a conglomerate with over 30 companies. As of August 2023, the group is valued at over USD 750 million, with its flagship company, Shriram Finance Limited, boasting a market value of around USD 8.5 billion.

Thyagarajan transferred all his shares in Shriram companies to a group of employees through the Shriram Ownership Trust, established in 2006. This decision underscores his commitment to giving back and remaining detached from material wealth.