Top 5 Richest Chartered Accountants In India In 2023
CA, a worldwide-recognized professional qualification, is highly respected and demands a great amount of dedication to achieve. This article provides details of the most affluent CAs in India at present. Becoming a CA carries with it a great range of duties, such as Financial Advising, Auditing of Financial Statements, and much more. Originating in Britain in 1854, they have been in great demand and command a larger salary. Here, we will be looking at the richest Chartered Accountants in India.
1. Kumar Mangalam Birla
Kumar is a renowned chartered accountant in India, renowned not only as one of the most distinguished personalities in the country but also as the wealthiest CA that the Republic of India takes pride in. He is the Chief Director and proprietor of the Aditya Birla Group, a multinational empire valued at more than $40 billion and one of the three largest companies in India. Additionally, the Group has extended its reach to 36 countries and six continents since 1995, when Kumar was 28 years old. Through his astuteness, skill, and foresight, Kumar has increased the company's turnover from $2 billion to an incredible $48.3 billion.
The organization has expanded its reach in terms of investments and acquisitions both within and outside of the nation. Kumar Mangalam Birla has taken the helm at various corporations such as Hindalco, UltraTech, Aditya Birla Capital Limited, Vodafone Idea and Grasim. His wisdom allowed him to be appointed to the Securities and Exchange Board of India (SEBI) Committee for Corporate Governance. His expertise was made available to the public in the form of the Published Report on Corporate Governance known as the Report of the Kumar Mangalam Birla Committee on Corporate Governance. This report has been widely accepted and is now the basis of corporate governance regulations in India. Birla is also known for his philanthropic works throughout India, having made significant contributions to the welfare of the less fortunate.
2. T.N. Manoharan
T.N. Manoharan, born on April 7, 1956, is the current president of the highly prestigious Camara Bank in India and is the second wealthiest Chartered Accountant in the country. He acquired a law degree from the University of Madras and a postgraduate degree in commerce from the Sri Venkateswara University. His career as a chartered accountant began in 1983, and before becoming the ICAI president, he served as the Vice President. In 2009, he was chosen among the six members by the Indian Government to be part of the board of Scandal Satyyam Computer Services Ltd. During his time of leadership, the company was brought out of its financial losses. The Reserve Bank of Sahara RNBFC also nominated him.
Currently, Manoharan is the president of MCA Telecom Consultants Private Limited, MCAFCA Private Limited, MCA Management Consultants Private Limited, NCC Ltd, and Satyyam Computer Services Ltd. Additionally, he is a member of the Appellate Authority, Faculty of the National Academy on Direct Taxes of the Government of India, and Public Health Foundation of India. Having traveled to over 50 countries in the past, he has represented the ICAI and other esteemed Associations. Furthermore, Manoharan is a known author of textbooks, has collaborated with other professionals in creating academic materials, and has published several Academic Articles and Publications. His achievements are vast and have been honored with awards and recognition from many sources.
3. Rakesh Jhunjhunwala
Rakesh Jhunjhunwala was born in Hyderabad, the capital city of Telangana State, India, on 5 July 1960 and was raised in Mumbai. As a Chartered Accountant, he is the third wealthiest in India and graduated from Sydenham College and The Institute of Chartered Accountants of India (ICAI). He is married to Rekha Jhunjhunwala, with whom he has three children. He is the Chief Director of Rare Enterprises (an investment firm based in India), a notable investor, trader, and film producer. He also holds the position of chairperson and is part of the executive team of Aptech Limited, Hungama Digital Media Entertainment PVT. Ltd, Nagarjuna Construction Company Ltd, Provogue India Limited, Prime Focus Limited, Bilcare Limited, Praj Industries Ltd, Innovasynth Technologies Limited, Viceroy Hotels Limited, Top Security Limited, and Mid Day Multimedia.
He was renowned as "The King of Bull Market" and "Warren Buffet of India" due to his expertise and success in investing. Despite facing difficulties in developing his business and having incurred considerable losses, his wealth and investments have grown exponentially. His net worth was estimated at US$3 billion, making him the 48th richest person in India. Sadly, he is no longer with us.
4. Naina Lal Kidwai
Naina was born in Delhi, India in 1957. She acquired her Bachelor's Degree from the University of Delhi, went to Harvard Business School and the Institute of Charted Accountants of India. She is married to Rashid K. Kidwai. She was formerly a CEO and the leader of HSBC India. Naina is an expert in banking, Charted Accountancy, and corporate administration.
5. Deepak Parekh
Deepak was born in Mumbai on October 18th 1944, and continues to live there today. He has been awarded the prestigious PADMA Bhushan, and is the fifth richest Chartered Accountant in India. He attended St. Xavier's Law School and obtained a degree from a University of Mumbai affiliate. In 1965, he went to England and, on his first try, was successful in his Chartered Accountancy exams. He has worked for many different companies, and currently holds influential positions in well-known organizations. He has been bestowed many awards and honors throughout his career.
In India, Chartered Accountants are highly esteemed and the exams are considered to be some of the most challenging in the world; thus, any Indian Chartered Accountant deserves to be recognized.