Son of a horse breeder, Cyrus Poonawalla founded Serum Institute of India in 1966 and built it into the world's largest vaccine maker (by doses).
Headquartered in Pune city, close to Mumbai, Serum produces over 1.5 billion doses annually of a range of vaccines, including for measles, polio and flu.
Under his U.K.-educated son Adar, Serum's CEO, the company invested $800 million at the peak of the pandemic to build a new factory Pune to make Covid-19 vaccines.
Poonawalla's assets include a majority stake in listed financial services firm Poonawalla Fincorp as well as a stake in The Ritz-Carlton hotel in Pune.
In 2023, his son Adar bought Aberconway House, a mansion in London's Mayfair, for 138 million pounds.
Serene Productionsβled by businessman Adar Poonawalla, son of Indian vaccine billionaire Cyrus Poornawallaβplans to invest $118 million for a 50% stake in Bollywood film maker Dharma Productions.
India sets another record on Forbesβ Worldβs Billionaires list, with 200 names, a cumulative total nearing a trillion dollars and Asiaβs very first centibillionaire.
Vaccinating the majority of Indiaβs 1.4 billion population in the next few months is going to require more than 2 billion doses. That mind-boggling number has lured a pack of pharma tycoons to jump into the fray to supply them.
SINGAPORE (October 8, 2020) β Amid the Covid-19 pandemic which hit India hard and led to a sharp economic contraction, half of the nationβs 100 richest on the 2020 Forbes India Rich List saw gains. Their collective net worth rose 14% to US$517.5 billion from a year earlier.
In a specially-equipped 30x20 facility inside New Delhiβs Tihar Jail complex, Indian financial services-to-hospitality tycoon Subrata Roy Sahara of the Sahara Group, has begun negotiations on Tuesday for the sale of several of his marquee hotel properties. The luxury hotel assets include New Yorkβs Plaza Hotel and Londonβs Grosvenor House. [...]
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