Lachhman Das Mittal (File picture)
Lachhman Das Mittal, aged 93, has secured a spot on the 2024 Forbes Billionaires List, incomes him the title of India’s oldest billionaire.
The majority of retirees select to retire at 60 with out looking for an extension at work, counting on their pension and provident fund for monetary assist. After dedicating most of their lives to company employment, few enterprise into entrepreneurship publish-retirement. However, exceptions exist, and as we speak we’ll talk about a thriving entrepreneur who launched into his entrepreneurial journey on the age of 60 following retirement.
Lachhman Das Mittal, aged 93, has secured a spot on the 2024 Forbes Billionaires List, incomes him the title of India’s oldest billionaire. Before this, Keshub Mahindra, former chairman of the Mahindra & Mahindra group, held the excellence till his passing on the age of 99 on April 12, 2023.
Lachhman Das Mittal, chairman of Sonalika Group, reportedly boasts a web value of Rs 23,000 crore. However, what distinguishes him from most billionaires is his humble beginnings as an atypical life insurance coverage agent with LIC till the age of 60, earlier than the entrepreneurial spirit sparked inside him.
Lachhman Das Mittal Education
After graduating from a authorities faculty, Lachhman Das Mittal enrolled in a postgraduate program for Urdu and English research. He achieved the exceptional feat of profitable the gold medal in MA English earlier than embarking on his profession as a LIC agent in 1955.
Like many center-class people, Mittal began saving a portion of his paycheck. He invested all his financial savings into launching a facet enterprise promoting agricultural tools, however sadly, the enterprise failed, leaving him bankrupt.
Despite this setback, Mittal remained decided to succeed as a businessman. He resumed saving cash and after retiring in 1996, he invested his financial savings into establishing Sonalika Tractors, a enterprise devoted to manufacturing tractors. This time, his luck turned, and the enterprise started to develop exponentially.
Sonalika Tractors boasts a big manufacturing facility located in Hoshiarpur, Punjab. Additionally, the Sonalika Group operates 5 vegetation throughout 5 completely different international locations, with enterprise operations spanning throughout 120 international locations worldwide.
While Amrit Sagar Mittal and Deepak Mittal, his sons, presently handle the actions of Sonalika Group, Mittal himself stays actively concerned in skilled issues and continuously visits the corporate’s places of work. His grandsons, Sushant and Raman, are additionally concerned with the corporate.
