Pankaj Patel Net Worth & Biography
Pankaj Patel Net Worth & Biography
|Popular Name:||Pankaj Patel|
|Real Name:||Pankaj Ramanbhai Patel|
|Birth Date:||16 March 1953|
Bhadran, Gujarat, India
|Profession:||Businessman, Investor, Entrepreneur|
|Net Worth:||$4.2 Billion|
This is the story of Pankaj Patel, the Indian entrepreneur and businessman who owns the Ahmedabad-based pharmaceutical company Zydus Cadilla, a fast-growing and popular drugmaker which currently has a market capitalization of about $10 million. Also known as Cadila Healthcare, the said pharmaceutical company is known to be the fifth-largest in the whole of India, and Pankaj does well in his ambition to lead from the front as the company’s current chairman.
Early Life: Childhood, Education
The Indian billionaire businessman, Pankaj Ramanbhai Patel, is a Gujarati. He was born in 1953 and was raised in his motherland by his parents in the company of his siblings and other relatives.
His parents were wealthy enough to give him the best of almost everything a child his age could ever need during his childhood days. He attended some of the best elementary and secondary schools in his hometown before advancing to obtain both Bachelor of Pharmacy and Master of Pharmacy degrees at Gujarat University. Patel also attended the University of Mumbai for a Bachelor of Arts in Science and Law before starting his career in the field of business.
Professional Life: Entrepreneurial Career
After graduating from the University of Mumbai, Pankaj Patel joined Cadila Healthcare, a company that his father founded in 1952 to make vitamins.
He currently serves as the Chairman and Managing Director of the pharmaceutical company which is recognized as the 5th largest pharmaceutical company in India, and one of the most successful in the whole of Asia.
Patel holds many positions in several other reputable companies and organizations in addition to his responsibilities at Cadila Healthcare. He is the sitting chairman of the Gujarat Cancer & Research Institute. He is also a trustee, executive chairman, and the vice president of the Gujarat Cancer Society. Furthermore, he is a member of the board of management of Narsee Monjee Institute of Management Studies and also the chairman of Ahmedabad University’s School of Life Sciences. Patel is a member of the governing board of The Ahmedabad University and the chairman of IIM Udaipur. He serves as the chairman and a member of the board of governors of the Indian Institute of Management’s finance committee. Likewise, he became the president of FICCI in 2017 and currently serves as the chairman of the board of governors of the Indian Institute of Technology (IIT) Bhubaneswar and the Indian Institute of Science Education and Research, Kolkata.
He is also the chairman of Zydus Hospitals, a leading chain of hospitals in Gujarat.
Achievements: Awards & Honors
Pankaj Patel’s work has earned him a lot of praises from his people as well as awards and honors that equally brought him the recognition he truly deserves from all his efforts. Since taking over his father’s pharmaceutical company, he has transformed the vitamins’ maker into one of the largest pharmaceutical firms in India.
In recognition of his accomplishments, the Foundation of Indian Industry and Economists named him the Best Pharma Man of the year in 2003. He has also been named by Forbes Magazine as one of the top 40 richest men in India consecutively for the past ten years,
Personal Life: Family, Marriage, Children
Pankaj has been married to Priti Patel for decades now. They have two children together.
Their daughter, Shivani Patel, is married to Pranav D Patel, whose father is Dushyant D Patel. Their son, on the other hand, is married to Meha Patel. His name is Sharvil Patel and he is the managing director of Cadila Healthcare Limited.
Pankaj Patel Net Worth: Salary, Income Sources, Expenses
The Indian businessman and entrepreneur makes his money by leading Cadila Healthcare as the company’s managing director and chairman. He also holds many positions in several other reputable companies and organization in addition to his responsibilities at Cadila Healthcare, all of which continually contributes to his wealth as his sources of income generation.
Pankaj Patel’s net worth is $4.2 billion. His Cadila Healthcare which is known to be the 5th largest pharmaceutical company in India is reported to have $1.1 billion in annual revenues and carries out its business activities in the United States producing several medicines, one of which includes a generic version of the hepatitis C medicine Sovaldi.
Patel’s leadership of Cadila helped him to receive the Best Pharma Man of the year Award in 2003 from the Foundation of Indian Industry and Economists in acknowledgment and appreciation of the growth of Cadila under his administration. At that time, the businessman predicted that Zydus Cadila would expand to become the third-largest pharmaceutical firm in India by 2005. However, things did not go so well for his business and the company’s fortunes dropped massively, causing Patel to drop several places on the list of the wealthiest Indians by 2005.
In August 2012, Patel and Sintex Industries chairman Dinesh Patel splashed a huge sum of money on acquiring a Challenger-604 jet.