The story of Vivek Chaand Sehgal, the billionaire who shares family lunches with his employees

The story of Vivek Chaand Sehgal, the billionaire who shares family lunches with his employees

August 26, 2024 – 2:30 p.m.

He is the co-founder of one of the largest auto parts conglomerates in the world, which has generated more than 12 billion dollars in profits for the year.

Vivek Chaand Sehgal is one of the India’s Big Businessmen for the millions he managed to raise with his auto parts factories, Samvardhana Motherson Group. The billionaire is also known for the way he treats his staff. The billionaire often celebrates Family Daywhen he invites suppliers, workers and their respective relatives to lunch.

His company is among the world’s largest automotive suppliers for producing rearview mirrors, molded plastic parts, high-precision metal parts and injection molding tools. These products allowed it to generate 12 billion dollars in the first half of 2024 and employ more than 129,000 workers worldwide.

The story of billionaire Vivek Chaand Sehgal, known for his charismatic relationship with his employees

The businessman took advantage of the legacy of his grandfather, who was a renowned jeweler in his country, to found the Samvardhana Motherson Group conglomerate with his mother in 1975His company started out trading silver but quickly changed direction as the market for the precious metal fell. Chaand Sehgal moved into wire manufacturing and quickly secured a deal with Japanese company Tokai Electronic Co, which changed its name to Sumitomo Wiring Systems.

The Indian conglomerate enjoyed great popularity for its wiring harnesses, which allowed it to diversify its production after the arrival of the new millennium. The 2000s were a time of expansion because his group acquired Wexford Electronics, Empire Rubber and the world’s largest manufacturer of rear-view mirrors, Visiocorp, while in 2011 they bought the company Peguform, which manufactures interior and exterior polymers.

In 2014, they added to their ranks the Finnish manufacturer of electrical distribution systems, PKC Group, which earned 619 million dollars in 2017. Among other companies that they have grouped together to date, such as Motherson Sumi Systems, Ichikoh and stakes in other companies.

How much is Vivek Chaand Sehgal’s fortune, according to Forbes

vivek chaand sehgal 2.jpg

Forbes India

The owner of one of the largest auto parts conglomerates guards a fortune of 8 billion dollarsaccording to Forbes magazine.

Source: Ambito

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