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According to ''Forbes'', he has an estimated net worth of US$40 billion as of July 2024 making him India's 3rd richest person and the 39th richest person in the world.<ref>{{Cite web|title=Shiv Nadar|url=https://www.forbes.com/profile/shiv-nadar/|access-date=5 July 2024|website=Forbes|language=en}}</ref>
According to ''Forbes'', he has an estimated net worth of US$34.2 billion as of July 2024.<ref>{{Cite web|title=Shiv Nadar|url=https://www.forbes.com/profile/shiv-nadar/|access-date=5 July 2024|website=Forbes|language=en}}</ref>


== Early life ==
== Early life ==

Revision as of 21:30, 18 July 2024

Shiv Nadar
Born (1945-07-14) 14 July 1945 (age 79)[1]
Moolaipozhi, Madras Presidency, British India
Alma materPSG College of Technology
Occupation(s)Founder, HCLTech, SSN College of Engineering, Shiv Nadar University, and Shiv Nadar University, Chennai
SpouseKiran Nadar
ChildrenRoshni Nadar Malhotra
RelativesS. N. Balakrishnan (brother)
AwardsPadma Bhushan (2008)

Shiv Nadar (born 14 July 1945) is an Indian billionaire businessman and philanthropist.[2] He was the founder and chairman of HCL Technologies, and is chairman of the Shiv Nadar Foundation. Nadar founded HCL in the year 1976 and transformed the IT hardware company into an IT enterprise over the next three decades.[3] In 2008, Nadar was awarded Padma Bhushan for his efforts in the IT industry.[4] Nadar, nicknamed by friends as Magus (Old Persian for "wizard"),[5] since the mid-1990s he has focused his efforts on developing the educational system of India through the Shiv Nadar Foundation.[6] According to Forbes, he has an estimated net worth of US$34.2 billion as of July 2024.[7]

Early life

Nadar was born in Moolaipozhi village, Madras Presidency (present day Thoothukudi district, Tamil Nadu) into a Tamil Hindu family.[8] His parents were Sivasubramaniya Nadar and Vamasundari Devi. His mother, Vamasundari Devi, is the sister of S. P. Adithanar, founder of Dina Thanthi newspaper.

Nadar studied at Town Higher Secondary School, Kumbakonam.[9] He also studied in the Elango Corporation Higher Secondary School, Madurai.[10] He was admitted into the first form (Sixth Standard) in June 1955 and continued his education in Town High School until June 1957. Later, he joined St. Joseph Boys Higher Secondary School, Trichy, and completed high school education here.[11] Nadar received a pre-university degree in the American College, Madurai[12] and a degree in Electrical and Electronics Engineering from PSG College of Technology, Coimbatore.[13]

Career

Nadar[14] began his career at Walchand group's Cooper Engineering Ltd. in Pune in 1967.[15] he soon gave it up to begin his own venture, in partnerships with several friends and colleagues. These partners were Ajai Chowdhry (Ex-Chairman, HCL), Arjun Malhotra (CEO and chairman, Headstrong), Subhash Arora, Yogesh Vaidya, S. Raman, Mahendra Pratap and DS Puri.[16]

The initial enterprise which Nadar and his partners began was Microcomp, a company which focused on selling teledigital calculators in the Indian market.[17][18] HCL was founded in 1976, with an investment of Rs. 187,000.[19]

In 1980, HCL ventured into the international market with the opening of Far East Computers in Singapore to sell IT hardware. The venture reported Rs 1 million in revenue in the first year and continued to address the Singapore operations.[20] Nadar remained the largest shareholder without retaining any management control.[citation needed]

In July 2020, Nadar handed over to his daughter Roshni Nadar, who became the first woman chair of a listed Indian IT company.[21] In July 2021, Nadar also stepped down as managing director of HCL Technologies, and was succeeded by C Vijayakumar, HCL Tech CEO, for a five-year term.[22]

In October 2021, he was ranked by Forbes magazine as the third richest person in India with an estimated net worth of US$31 billion.[23]

Focus on education

Shiv and Roshni Nadar presenting a cheque of Rs. 4 crore to the Prime Minister, Dr. Manmohan Singh, towards the Prime Minister's National Relief Fund in New Delhi on 17 January 2005

In 1996, Nadar founded SSN College of Engineering in Chennai, Tamil Nadu[24] in the name of his father, Sivasubramaniya Nadar. Nadar took an active role in the college activities, including the gifting of Rs. 10 lakh worth of HCL shares to the college.[25] In 2006, Nadar announced that the college will promote research apart from ensuring that students benefit from foreign university tie-ups.[26] Nadar joined the executive board of Indian School of Business in 2005.[27] In March 2008, Nadar's SSN Trust announced the setting up of two Vidyagyan schools in Uttar Pradesh for rural students, where free scholarship for 200 students from 50 districts of the state. He visited Town Higher Secondary School in February 2011 and donated computers and other equipment worth Rs. 80 lakh. He served as chairman of the board of governors, Indian Institute of Technology Kharagpur (IIT Kharagpur or IIT-KGP), a technical institute until 2014.[28]

Personal life

Nadar's daughter Roshni Nadar is now chairwoman of HCL. She was the manager of HCL when Siva Nadar started it in the 1990s.[29]

His wife, Kiran Nadar, is an art collector and philanthropist.[30]

Shiv Nadar and his wife Kiran Nadar are also active Bridge players and sponsors of the famous HCL Bridge Tournament in India

Awards and accolades

  • In 2008, the Government of India awarded him with a Padma Bhushan, the third highest civilian award, for his contribution to the IT industry.[31]
  • In 2007, Madras University awarded him an honorary doctorate degree.[32]
  • Shiv Nadar was awarded E&Y Entrepreneur of the Year 2007 (Services).[33]
  • In 2011, he was counted amongst Forbes' 48 Heroes of Philanthropy in Asia Pacific.[34]
  • In April 2017, India Today magazine ranked Nadar #16th in India's 50 most powerful people of 2017 list.[35]
  • Shiv Nadar has committed more than $1 billion to philanthropy.[36]

References

  1. ^ Sharma, Vishwamitra (2003). Famous Indians of the 20th century. New Delhi: Pustak Mahal. p. 220. ISBN 81-223-0829-5.
  2. ^ "Shiv Nadar's Path To Philanthropy". Fortune India. Retrieved 22 February 2023.
  3. ^ "Shiv Nadar steps down as HCL Tech MD, C Vijayakumar to take over". mint. 19 July 2021. Retrieved 19 July 2021.
  4. ^ "Padma Awards" (PDF). Ministry of Home Affairs, Government of India. 2015. Archived from the original (PDF) on 15 October 2015. Retrieved 21 July 2015.
  5. ^ Arvind Padmanabham. "Shiv Nadar completes 25 years of success". Rediff. Retrieved 26 March 2008.
  6. ^ Vijay (15 September 2011). "Shiv Nadar Foundation forays into elementary education". Business Standard India. Machinist.in. Retrieved 6 December 2011.
  7. ^ "Shiv Nadar". Forbes. Retrieved 5 July 2024.
  8. ^ Vikas Pota (7 January 2010). India Inc: how India's top ten entrepreneurs are winning globally. Nicholas Brealey Publishing, 2009. p. 179. ISBN 978-1-85788-524-8.
  9. ^ "Prominent Students of Our School". Retrieved 19 July 2012.[permanent dead link‍]
  10. ^ Basu, Soma (2 August 2019). "Elango Corporation School's old students Shiv Nadar, the founder-chairman of HCL". The Hindu. Retrieved 13 February 2020.
  11. ^ "Shiv Nadar says Hindi shaped his career, asks students to learn it | Trichy News - Times of India". Timesofindia.indiatimes.com. 5 February 2019. Retrieved 13 February 2020.
  12. ^ "PADMA SHRI – ALUMNI | The American College". Retrieved 10 June 2024.
  13. ^ "Bio" (PDF). www.psgtech.edu. Retrieved 13 February 2020.
  14. ^ "Shiv Nadar – Unknown Facts about the HCL Man". The Hans India. Retrieved 13 July 2021.
  15. ^ Harish Damodharan (16 September 2008). India's New Capitalists: Caste, Business, and Industry in a Modern Nation. Palgrave Macmillan. p. 191. ISBN 978-0-230-20507-9.
  16. ^ "Wanna be a CEO? Join HCL". Indiatimes. 15 April 2005. Archived from the original on 16 February 2008. Retrieved 3 April 2008.
  17. ^ "The amazing story of the birth of HCL". Moneycontrol. 9 June 2007. Retrieved 26 March 2008.
  18. ^ "HCL Group: The M&A Year". DQ Group. 25 July 2002. Archived from the original on 21 March 2008. Retrieved 26 March 2008.
  19. ^ "HCL GROUP – The Change Agents". DQ India. Archived from the original on 23 April 2008. Retrieved 26 March 2008.
  20. ^ "The dark horse of the technology sector". Moneycontrol. 7 May 2007. Retrieved 26 March 2008.
  21. ^ "Roshni Nadar Malhotra becomes HCL Tech chairperson. Who is she? | India News - Times of India". The Times of India. 18 July 2020. Retrieved 19 July 2021.
  22. ^ "Shiv Nadar steps down as HCL Tech MD, C Vijayakumar to take over". mint. 19 July 2021. Retrieved 19 July 2021.
  23. ^ "Mukesh Ambani tops Hurun Rich list 2021, spotlight on Gautam Adani's 261% wealth growth". India Today. 1 October 2021. Retrieved 18 December 2021.
  24. ^ "The Founder – SSN Institutions". Retrieved 2 February 2024.
  25. ^ "Shiv Nadar gifts HCL Tech shares to Chennai Trust". The Hindu. India. 25 July 2001. Archived from the original on 13 May 2003. Retrieved 26 March 2008.{{cite web}}: CS1 maint: unfit URL (link)
  26. ^ "SSN engineering college to step up high-end research". The Hindu. India. 1 March 2006. Archived from the original on 23 May 2006. Retrieved 26 March 2008.
  27. ^ "Shiv Nadar joins ISB executive board". The Hindu. India. 5 October 2004. Archived from the original on 30 September 2007. Retrieved 26 March 2008.
  28. ^ News, NDTV (29 October 2011). "HCL founder Shiv Nadar to head IIT-Kharagpur's board". NDTV News. Retrieved 15 May 2020. {{cite news}}: |last1= has generic name (help)
  29. ^ "HCL gen-next Roshni Nadar appointed vice-chairman of HCL Tech". The Times of India. 23 October 2018.
  30. ^ "Leaps of faith for a better tomorrow, the Dalit story".
  31. ^ "India Inc shines on civilian honour rolls". The Economic Times. India. 27 January 2008. Retrieved 26 March 2008.
  32. ^ "Honorary doctorate for Balachander, Nadar". The Hindu. India. 11 November 2007. Archived from the original on 15 November 2007. Retrieved 26 March 2008.
  33. ^ "Honorary Entrepreneur Of The Year 2007 – Services". Ernst & Young. Archived from the original on 13 November 2008. Retrieved 26 March 2008.
  34. ^ Staff, Forbes Asia (22 June 2011). "48 Heroes Of Philanthropy". Forbes. Retrieved 8 August 2017.
  35. ^ "India's 50 powerful people". India Today. 14 April 2017.
  36. ^ Raghunathan, Anu. "Shiv Nadar's VidyaGyan Lands Rural Indian Kids In Leading Institutes -From Engineering To Fashion". Forbes. Retrieved 8 August 2017.
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