Cyrus Poonawalla, the ninth richest billionaire in India and the wealthiest individual in Pune, is the founder of the Serum Institute of India, one of the largest private pharmaceutical companies in the country, according to Forbes India.Dr. Cyrus Poonawalla began his journey as the son of a horse breeder and has risen to become one of the nation’s wealthiest figures. In 1966, he established the Serum Institute of India, which gained prominence for its vital contributions during the COVID-19 pandemic as a key vaccine manufacturer. The institute produces an impressive 1.5 billion doses of vaccines annually, covering diseases such as polio, flu, and measles, as reported by GQ India.
His significant contributions to vaccine development and distribution earned him the Padma Bhushan, one of India’s highest civilian honors, in 2022.The Serum Institute holds the title of the world’s largest vaccine manufacturer, outpacing any other company globally. Currently, the institute is led by Cyrus’s son, Adar Poonawalla, who has successfully expanded the family business into various sectors. As per the 2024 Hurun India Rich List, Cyrus Poonawalla, serving as chairman and managing director of the Cyrus Poonawalla Group, boasts a staggering net worth of ₹2,89,900 crore, with the Serum Institute valued at ₹2,04,300 crore.
In addition to his pharmaceutical ventures, Poonawalla has significant investments in Poonawalla Fincorp, a non-banking financial company focused on consumer and MSME financing, as well as The Ritz-Carlton hotel in Pune. Staying true to his father Soli Poonawalla’s legacy, he also manages a large farm dedicated to breeding award-winning horses. A highlight of his vast empire is a lavish seaside mansion located in Mumbai’s upscale Breach Candy area, which he purchased from the United States government for ₹750 crore in 2015, marking it as one of India’s most expensive real estate transactions. Recently, his son Adar Poonawalla made his foray into the film industry by acquiring a 50 percent stake in Karan Johar’s Dharma Productions for ₹1,000 crore.
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