Atul Ruia is the chairman of Phoenix Mills and the owner of the Phoenix Mall of Asia in Bangalore, have a look at his family and net worth
Find out more about him.
In the Forbes billionaire list of 2023, a notable addition from Mumbai is the accomplished business magnate, Atul Ruia. He is one of the 16 recent arrivals from India who have successfully gained their places on this esteemed list of the richest people on the planet.
The story of his rise to prominence begins with a crucial dilemma regarding the future of a textile factory that was losing money and had been operating for almost a century.
Who is Atul Ruia owner of Phoenix Mall of Asia Bangalore and Phoenix Mills, biography, family, religion, wife, net worth
🚨 One of the biggest malls in Bengaluru, 'Phoenix Mall of Asia' is opening on October 27 in Hebbal, Bengaluru. pic.twitter.com/3nJgvS0rIu
— Indian Tech & Infra (@IndianTechGuide) October 22, 2023
🚨 Phoenix Mall of Asia has opened today in Sabrinagar near Hebbal, Bengaluru.
440 fabulous brands
14-screen INOX Megaplex
50 restaurants & cafes pic.twitter.com/J5XLzFh9e2— Indian Tech & Infra (@IndianTechGuide) October 27, 2023
However, Atul Ruia wrote a transformation tale that, with amazing vision, converted this mill into a bustling mall, all under the corporate umbrella of a corporation that had been there for more than a century.
Over time, Phoenix Mills had changed into a business facing financial difficulties brought on by labor disputes and rising production costs. However, when things seemed hopeless for the mill, Atul Ruia saw the immense potential that the 33 lakh square feet of mill space held.
When Atul Ruia took over the family firm in 1994, he began an incredible transformation that propelled the once-struggling family textile company into the forefront of retail-oriented real estate. That’s what eventually put him on the esteemed Forbes billionaire list of 2023.
Due to this, he has become the talk of the town, with many people trying to find out more about him. So, here’s what we know about him:
Who is Atul Ruia?
Atul Ruia is an Indian businessman and a billionaire. He has been in the news because he recently made it to the Forbes billionaire list of 2023.
He was born and brought up in Mumbai, India. After completing his schooling in India, he attended the University of Pennsylvania’s Wharton School in the United States, where he graduated in science.
He is married and has two children, daughters, Sharanya and Tarini, aged 20 and 18, respectively and his wife Gayatri Ruia is the director of Phoenix Mills.
His career
In 1992, Atul Ruia decided to take over his family’s business after returning to India. Significantly, he was able to bring his family business back to life after it suffered a significant loss. He turned the failing textile enterprise into a significant real estate company with holdings in residential, commercial, retail, and hospitality.
Phoenix Mills, which was founded in Mumbai in 1905 to produce cotton textiles, currently operates malls in several Indian cities, including Pune, Ahmedabad, Indore, Lucknow, Chennai, and Bangalore.
Additionally, his firm owns hotels, including the Courtyard Marriott Agra and the St. Regis Mumbai. Atul Ruia became chairman of Phoenix Mills in December 2019 after retiring as managing director.
Net worth of Atul Ruia
Ruia’s net worth is currently an astounding $1.2 billion, or more than Rs 9,800 crore.
ALSO READ: Who is Rebecca Auborn Columbus Ohio serial killer and what is her criminal record