Meet Vijaypat Singhania: Once Richer Than Mukesh Ambani and Adani, Now Living in a Rented Flat Due to Family Feud
Business Tycoon Who Built Raymond’s Global Legacy, Now Lives a Modest Life After Losing It All
There was a time when Vijaypat Singhania, the man behind Raymond Group’s global success, was wealthier than corporate giants like Mukesh Ambani, Gautam Adani, and Ratan Tata. But today, at 86 years old, he lives alone in a small rented flat in Mumbai, far removed from the luxury, fame, and status he once enjoyed.
The Man Who Made Raymond a Global Brand
Born into the illustrious Singhania family, Vijaypat took over the Raymond Group in 1980, transforming it from a textile business into an internationally recognized brand.
- Under his leadership, Raymond became synonymous with premium suiting fabric, making waves not just in India but across global markets.
- His iconic “The Complete Man” campaign turned Raymond into a household name, symbolizing success, style, and aspiration for Indian men.
A Business Empire Worth Thousands of Crores
Vijaypat Singhania built a fortune worth thousands of crores, with private jets, luxury homes, and an army of staff reflecting his immense success. But behind the empire, family disputes were brewing, leading to one of the most painful chapters of his life.
Family Feud That Cost Him Everything
Trouble began when Vijaypat attempted to divide his wealth between his two sons, Gautam and Madhupati.
- Madhupati had already settled in Singapore, stepping away from the family business.
- In 2015, Vijaypat handed over control of Raymond to his younger son, Gautam Singhania, believing it was the right move for the family.
However, the decision backfired:
- Gautam gradually distanced his father from company affairs.
- By 2018, Vijaypat was stripped of his Chairman Emeritus title and forced to leave his ancestral home, the same house where he had spent most of his life.
Award-Winning Aviator and National Icon
Beyond business, Vijaypat is known for his passion for aviation:
- Inspired by JRD Tata, he pursued flying, setting world records.
- In 1994, he soared to a record altitude of 69,852 feet in a hot air balloon.
- He received the Tenzing Norgay National Adventure Award in 2001, the Padma Bhushan in 2006, and served as the Sheriff of Mumbai the same year.
The Indian Air Force honored him with the title of Honorary Air Commodore, cementing his legacy beyond the boardroom.
Regrets, Reflections, and Life Lessons
Despite losing his wealth and family connections, Vijaypat remains a fighter at heart:
“I’ve seen everything in life… the top and the bottom. What I’ve learned, no business school can teach,” he reflects.
Though he regrets trusting his son and relinquishing his fortune, he believes values and experiences matter more than money.
Meanwhile, his son Gautam Singhania lives in the ultra-luxurious JK House, worth ₹6,000 crore, located on Mumbai’s Altamount Road, beside Mukesh Ambani’s Antilia—one of the world’s most expensive homes.
