Ravi Modi, Founder and Managing Director (MD) of ethnic wear brand ‘Manyavar,’ emerged as the top wealth gainer of the year in the recently-released IIFL Hurun India Rich List 2022. With a staggering 376% increase, Modi’s net worth rose to ₹32,400 crore, the list showed. Unsurprisingly, he made a huge jump, of 205 positions – from 246 to 41 – on the list, which was topped by Gautam Adani.
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Here are a few things to know about Ravi Modi:
(1.) According to Forbes, his real-time net worth, as of September 25, is $3.7billion. On the Forbes 2022 Billionaires List, he was ranked 1,238.
(2.) The brand Manyavar comes under Vedant Fashions, which the 45-year-old opened in 2022, in Kolkata – and named after his only child – to manufacture traditional Indian garments. Today, Vedant is the Chief Marketing Officer of Vedant Fashions.
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(3.) Modi’s wife, Shilpi, sits on the board of Vedant Fashions. The $85 million-revenue company has more than 600 stores in India, and 11 international outlets.
(4.) Modi, who took his company public in February, reportedly likes to live simple, and resides in a society on the outskirts of Kolkata, away from the metropolis bustle.
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(5.) With his legacy business doing good, he decided, in 2002, to buy a Mercedes. However, he postponed his plan, put the profits into expansion, and got himself a Mercedes in 2017, a full 15 years later.
