Shiv Nadar’s name is synonymous with the rise of India as a global technology superpower.
As the founder of HCL, he pioneered the IT services industry in India and built it into one of the nation’s most valuable companies.
Even after stepping down from executive roles, Nadar continues to hold immense influence and wealth as HCL expands its footprint worldwide.
So what is Shiv Nadar net worth in 2024?
Let’s take a closer look at how he built his fortune and the assets that contribute to his massive wealth today.
Table of Contents
Shiv Nadar Net Worth Journey From Humble Beginnings to IT Giant
Shiv Nadar was born in 1945 in Tamil Nadu. In 1976, he founded Hindustan Computers Limited (later renamed HCL) along with a few partners and a starting capital of only Rs. 187,000.
They set up their office in a garage in Noida. With IBM’s exit from India in the late 1970s, HCL got the opportunity to enter the microcomputer market.
The company slowly expanded from hardware to software services to become one of India’s leading IT companies.
Under Nadar’s leadership, it established itself as a leading IT services provider in India and expanded overseas in the 1980s.
Today, HCL Technologies, which employs over 225,000 people globally, is among India’s largest IT services companies with $12.6 billion in revenues.
Shiv Nadar Net Worth in 2024
According to Forbes’s real-time billionaire list, Shiv Nadar’s net worth as of January 2024 stands at $34.6 billion. This makes him the 3rd richest person in India.
Shiv Nadar net worth net worth in rupees – 2,87,644,400,000 INR
Shiv Nadar net worth in crores – 2,87,644 crores
With his daughter Roshni in charge at HCL, Shiv Nadar continues to remain one of the wealthiest people in the country.
At 78 years of age, he has built a technology empire and impacted education through large-scale philanthropy.
Shiv Nadar Daughter – Roshni Nadar Malhotra
In July 2020, Shiv Nadar stepped down as Chairman of HCL Technologies, handing over the role to his daughter Roshni Nadar Malhotra.
Roshni studied at Northwestern University and did her MBA from Kellogg School of Management. She has been an executive director and CEO of HCL Corporation since 2009.
At 78, Shiv Nadar now holds the position of Chairman Emeritus and Strategic Advisor at HCL Tech. His daughter Roshni now leads the $12.6 billion technology company at just 42 years of age.
Majority Shareholder in HCL Empire
Indian billionaire Shiv Nadar’s vast fortune stems primarily from his majority stake in HCL Technologies, the software development company he founded in 1976.
As of December 2023, Nadar and his family control 61% of publicly traded HCL Technologies through promoter groups, giving them strategic control of the company, where Nadar serves as chairman.
The family also holds a 63% stake in HCL Infosystems, a computer maker and IT services provider.
The total value of Nadar’s holdings in these companies, combined with his other assets such as cash, dividends, and investments, amounts to his estimated multi-billion dollar net worth as of 2024.
His strategic leadership of HCL Technologies and other tech ventures forms the cornerstone of his wealth.
Shiv Nadar has already given away around $1 billion to philanthropic causes through his Shiv Nadar Foundation. The foundation runs the SSN College of Engineering in Chennai which was set up in 1996.
In 2008, his foundation started VidyaGyan schools in Uttar Pradesh that provide free world-class education to gifted rural students.
The Shiv Nadar Foundation has also contributed to the preservation of India’s natural habitats and to promoting leadership in socially backward sections. It runs museums, schools, universities, and research institutions across India.
Family and Succession Planning
Shiv Nadar’s only child Roshni Nadar Malhotra is married to Shikhar Malhotra who runs HCL Healthcare. Roshni and Shikhar have two sons.
By appointing his daughter as HCL Chairman, Shiv Nadar has put in place succession planning to ensure the continued success of his empire.
Roshni has been playing important roles in the HCL group since joining. As HCL CEO, she led the company to become one of India’s largest software services firms.
Awards and Recognition
Shiv Nadar has received numerous honors including,
- In 2008, awarded Padma Bhushan, India’s third highest civilian award, for contribution to the IT industry
- In 2007, awarded an honorary doctorate degree from Madras University
- In 2007, received the E&Y Entrepreneur of the Year award for Services
- In 2011, named one of Forbes’ 48 Heroes of Philanthropy in Asia Pacific
- In 2017, ranked #16 on India Today magazine’s list of India’s 50 Most Powerful People
Let’s explore some frequently asked questions related to Shiv Nadar, his family, and the establishment of HCL Technologies.
HCL Technologies is headquartered in Noida, Uttar Pradesh, India.
Yes, HCL Technologies is a multinational public IT services corporation.
Kiran Nadar is the wife of Shiv Nadar, founder of HCL Technologies.
The six founders of HCL are Shiv Nadar, Arjun Malhotra, Subhash Arora, Yogesh Vaidya, D.S. Puri, and Chowdhry.
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Final Thoughts about Shiv Nadar Net Worth 2024
Shiv Nadar’s journey from a small town in Tamil Nadu to creating a global IT major is an inspiring rags-to-riches story.
With a huge net worth of $34.6 billion, he remains committed to philanthropy and improving education.
His daughter Roshni has a huge responsibility in taking the HCL Group to greater heights in the future.
Overall, Nadar’s story teaches important lessons. With vision and grit, social outsiders can achieve greatness. But true success pairs ambition with compassion. As we aspire to new heights, we must also lift others.