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Asian Voice Global India Rich List - 2016
134(139) Raj Matharu and Family
Hotels - $ 1bn
UK
T
hree Matharu brothers led by Raj hit upon an innovative idea of converting empty office space into hotels. Womenonly wings were another innovation they introduced in the UK in their hotels. Their company Global Grange operates 16 hotels in central London and one in the county of Berkshire. In 2014-15 the company’s profits reportedly dipped to just over $21 million on a $165 million turnover. But their net assets rose by $15 million to over $1 billion.
134(138)
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Prithviraj Kothari
Precious Metals - $ 1bn
R
India
iddi Siddhi Bullion, founded in 1994, is a family gold trading business. It holds the greatest variety of bullion and coins in India. Its managing director Prithviraj Kothari has reportedly been a pioneer in introducing “instant international price-based Indian rupee denominated bullion trading in India”. In 2014, though, he was interviewed by India’s Enforcement Department as a suspect in a major hawala (money transfer without money movement) scam.
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Radhakishan Damani
Investor - $ 1bn
T
India
he D-Mart hypermarket chain, which has 91 stores in India, was set up by Radhakishan Damani. He retains a controlling stake in its parent company. Among his other holdings is a 26% share in cigarette maker VST Industries and in India Cements. Damani is expanding his property portfolio by acquiring the Radisson Blu Resort in Alibag, a popular upmarket beach getaway near Mumbai.