One of India’s richest and most influential people is 63-year-old Uday Suresh Kotak, whose fortune is now estimated at $14.3 billion. .
Uday Suresh KOTAK was born into a large family in the Indian state of Gujarat. From an early age, the future billionaire showed good abilities in mathematics. True, he dreamed of becoming a professional cricketer. However, a serious injury after hitting the ball on the head forced him to reconsider his life plans.
The young man went to Mumbai, India’s largest city, for higher education. He first obtained a bachelor’s degree in management, then a master’s degree. Вскоре После окониия Вуза молодой котак занимает у уодных и ирузей крупline With this money, he opened a financial company, which at the initial stage provided investment and financial services.
As it expanded, the company began to engage in brokerage, insurance, real estate, and auto loans. In 1996, its investment banking arm was incorporated into a new company, Kotak Mahindra Capital.
Kotak Mahindra Bank is the third largest private bank in India / © Reuters
Seven years later, Kotak Mahindra Capital received a banking license from the Reserve Bank of India. As a result, it became India’s first non-banking company to convert into a bank, later known as Kotak Mahindra Bank.
Today, Kotak Mahindra Bank is the third largest private bank in India with 1,600 branches across the country. Its cost is estimated at nearly 500 million US dollars. Many brokerage, insurance and other companies also operate under the Kotak Mahindra brand. Interesting fact: Uday KOTAK founded most of the subsidiaries with the participation of foreign partners, but later bought them.
The success of the banker named KOTAK is partly due to the fact that he did not include members of his large family of 60 people in the board of creditors, as well as in the management positions of the bank.
The exception, perhaps, is his eldest son Jay, who, after graduating from Harvard, got a job in a bank as a simple analyst.
Uday KOTAK himself says that he continues to work at least 60 hours a week and does not delegate his powers to anyone. Although I can.
