We examine the background of Subrata Roy, who succumbed to death on Tuesday, along with his biography, family, wife, and net worth
On Wednesday, Subrata Roy, the visionary founder of Sahara India Pariwar, passed away at the age of 75 after an extended period of medical treatment at a private hospital in Mumbai. The Sahara Group issued a statement declaring Roy’s demise at 10:30 PM, signifying the conclusion of Roy’s extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
Sahara Group founder Subrata Roy death reason, net worth, biography, age, family, wife, son and education
Sahara Group Managing Worker and Chairman Subrata Roy passes away due to cardiorespiratory arrest: Sahara Group pic.twitter.com/ugUdBrxiSp
— ANI (@ANI) November 14, 2023
great motivator, speaker and sports lover is no more . #RIP 🙏🙏#sahara #subrataroy pic.twitter.com/XZBpiKCObf
— Suresh Raina🇮🇳 (@ImRaina) November 14, 2023
How Subrata Roy guided Sahara Group to success?
Roy initiated his journey with a mechanical engineering education at the Government Technical Institute in Gorakhpur. In 1976, he assumed control of Sahara Finance, a struggling chit fund company, marking the beginning of his venture into the business world in Gorakhpur. By 1978, he successfully transformed the company into Sahara India Pariwar, establishing it as one of India’s largest conglomerates.
Roy led the Sahara group in 1992 to introduce the Hindi newspaper Rashtriya Sahara, launch the Aamby Valley City project near Pune in the late 1990s, and venture into television with Sahara TV. Time magazine recognized Sahara India Pariwar as India’s second-largest employer, surpassed only by Indian Railways, employing approximately 1,200,000 individuals. Notably, Sahara amassed an investor base of over 9 crore, which was a sizable portion of the Indian population.
In 2014, the Supreme Court of India detained Roy for non-compliance with a Securities and Exchange Board of India (SEBI) dispute. This initiated an extended legal conflict, including Roy’s imprisonment in Tihar Jail, concluding in his eventual release on parole. The case revolved around SEBI’s directive for Sahara to reimburse billions to investors, leading to the establishment of a “Sahara-Sebi refund account” by the Supreme Court.
Despite Roy’s legal challenges, they did not overshadow his impactful contributions to the business world. Recognitions included an honorary doctorate in business leadership from the University of East London and the Business Icon of the Year award at the Powerbrands Hall of Fame Awards in London. In his later years, Roy directed his attention toward Sahara Evols, offering a variety of electric vehicles, and plans to enter the online education sector with Edunguru.
Subrata Roy age, origin, family, wife, children, career journey, & net worth
Subrata Roy, born on June 10, 1948, in Araria, Bihar, played a crucial role in shaping the Indian business landscape. He comes from a Bengali Hindu family, being the son of the late Shri Sudhir Chandra Roy and Smt. Chhabi Roy. His wife, Swapna Roy, holds the position of Deputy Managing Worker in personnel and welfare, and the couple has two sons, Sushanto Roy and Seemanto Roy.
Receiving his primary education at Holy Child School in Kolkata, Subrata Roy pursued a mechanical engineering degree at the Government Technical Institute in Gorakhpur. Subrata Roy has been instrumental in establishing a vast business empire that spans finance, real estate, media, and hospitality. He stands at a height of 5′ 10″, weighs approximately 75 kg, and possesses black hair and black eyes. As per reports from 2013, Subrata’s net worth amounted to INR 5 Crore.
The Sahara Group was worth Rs.680 billion at one point of time.