Success Story: The founder of the Indian conglomerate Shriram Group, Ramamurthy Thyagarajan, is renowned for leading a modest and uncomplicated life. According to the Shriram Group website, Thyagarajan is a well-known millionaire with a huge business empire worth Rs 1,50,000 crore.
For his services to trade and industry, he received India’s third-highest civilian honor, the Padma Bhushan, in 2013. As a financial behemoth today, the Shriram Group has secured its position as a leader in the industry and provided a lifeline to millions of people.
Ramamurthy Thyagarajan Early Career
Born into a Tamil Nadu agricultural family, R. Thyagarajan’s path started with a solid academic background. After completing his studies in mathematics in Chennai, he attended the esteemed Indian Statistical Institute in Kolkata for three years. He began working for New India Assurance Co., one of the biggest insurers in India, in 1961. Born on August 25, 1937, he is an industrialist and the founder of the Shriram Group, based in Chennai.
No Mobile, Modest Car, and a Life of Purpose
Despite his enormous riches, R. Thyagarajan opts to choose a humble lifestyle. He doesn’t own a cell phone because he feels it is a diversion from life’s real objectives, lives in a modest house, and drives a car valued at Rs 6 lakh.
Building Wealth By Serving The Underserved
By providing loans to low-income borrowers who were disregarded by traditional banks, R. Thyagarajan built his business empire. Millions of people who needed help but couldn’t get it were able to obtain it because to his creative financial strategy.
Philanthropy Through Employee Ownership
Thyagarajan made history in 2006 when he distributed all of his shares in Shriram enterprises to a group of workers. To guarantee that those who contributed to the establishment of the business would also profit from its success, the Shriram Ownership Trust was established.
R Thyagarajan Donated Rs 6210 Crore
At one point, Thyagarajan sold his $750 million (Rs 6210 crore) share in a corporation. He demonstrated his strong dedication to give back to society by donating the full sum to a trust rather than retaining it for himself.
R. Thyagarajan’s Entrepreneurial Journey
He started his business at the age of 37, demonstrating that it’s never too late to get started. His group has grown from modest beginnings into a huge enterprise that now owns 30 businesses and serves over 23 million clients. He founded the Chennai-based Shriram Group and is an industrialist. He was born on August 25, 1937.
A Man of Culture and Curiosity
Outside of work, Thyagarajan reads Western business periodicals to stay current and appreciates classical music. Even though he manages a commercial empire, his passion for education and culture keeps him grounded.