Ravi Ruia

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Ravi Ruia
Born April 1949 (age 69)
Ramgarh Shekhawati
Residence Mumbai, India
Alma mater College of Engineering, Guindy
Occupation Vice-chairman, Essar Group
Net worth $5.6 billion (jointly with brother, June 2017)[1]
Spouse(s) Madhu Ruia[2]
Children 2
Relatives Shashi Ruia (brother)

Ravikant Nand Kishore Ruia (born April 1949) is an Indian billionaire businessman, and the vice-chairman of Essar Group, co-founded in 1969 with his brother Shashi Ruia.

In 2012, Forbes named the Ruia brothers as the world's richest Indians with a net worth of US$7 billion.[1]

Early life[edit]

Ravi Ruia was born in April 1949.[3] He is a mechanical engineer by profession, with a degree from College of Engineering, Guindy in Chennai.[4]

Career[edit]

Ruia has played an important role in steering the Essar Group to its pre-eminent position.[5] Among the industrialists who has bought India’s renaissance Ravi Ruia is said to be one of them. He started his career with his family business and worked with Shashi Ruia, his elder brother.[6] Essar Group is a multinational conglomerate and a leading player in the sectors of steel, oil and gas, power, communications, shipping, ports and logistics, projects and minerals. With operations in more than 20 countries across five continents, the group employs 75,000 people, with revenues of US$17 billion.[7]

It is projected that in FY 2017-18, the aggregated revenues of the portfolio companies is US$15 billion. The international standards of safety, health, environmental protection and corporate governance are maintained by the companies which operate with more than 50 assets across the globe.[8] Essar businesses in the telecom, BPO and oil & gas sectors have involved more than $30 billion in Foreign Direct Investment by monetizing its portfolio to global majors, like Vodafone, Rosneft and Trafigura.[9] Essar Energy completed the transaction for the sale of Essar Oil to Rosneft and a consortium led by Trafigura & UCP at an enterprise valuation of US$12.9 billion.[10] This transaction represents Russia’s largest ever foreign investment, as well as India’s largest Foreign Direct Investment.He was the 12th richest person living in the UK, as in the Sunday Times Rich List 2011.Ruia managed Essar’s globalization plans, including new ventures in South East Asia, Africa, and the Middle East. He has received Business India Businessman of the Year Award 2010.[6]

In December 2011, India’s Central Bureau of Investigation investigated Ruia for the sale of India's 2G spectrum, which was denied by the Essar Group.[11][11][12]

In April 2013 he was awarded the Outstanding Contribution to Sustainability award at The Asian Awards in London.[11]

Personal life[edit]

He is married to Madhu,[11] they have two children,[11] and live in Mumbai, India.[1]

References[edit]

  1. ^ a b c "Shashi & Ravi Ruia". Forbes. Retrieved 7 June 2017. 
  2. ^ ":: Welcome to SAHACHARI ::". Sahacharifoundation.org. Retrieved 6 June 2017. 
  3. ^ "Ravi RUIA - Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 6 June 2017. 
  4. ^ "Top 20 Richest Indians: Do You Know Them? - Chilly World - Page 16". chillyworld.com. Retrieved 15 February 2018. 
  5. ^ 4-traders. "Shashi Ruia - Biography". www.4-traders.com. Retrieved 15 February 2018. 
  6. ^ a b "Ravi Ruia, Vice Chairman and Co-founder, Essar". New Building Material & Construction World. July 2015. Retrieved 14 February 2018. 
  7. ^ "Multinational Conglomerate Improves Service Offerings with Cloud Power". microsoft.com. Retrieved 15 February 2018. 
  8. ^ "Prashant Ruia". World Economic Forum. Retrieved 15 February 2018. 
  9. ^ http://www.essar.com/section_level1.aspx?cont_id=SD7sjPUVBkw=
  10. ^ "Essar Oil completes sale of India assets to Rosneft-led consortium for $12.9 bn". thehindubusinessline.com. Retrieved 15 February 2018. 
  11. ^ a b c d e "Ravi Ruia". 15 February 2018. Retrieved 15 February 2018 – via Wikipedia. 
  12. ^ Karmali, Naazneen. "Essar Group's Ruias Charged In Telecom Investigation". forbes.com. Retrieved 15 February 2018.