| Net Worth | $475 Million |
| Age | 68 Years Old (posthumously) |
| Date Of Birth | July 29, 1954 |
| Date of Death | December 31, 2001 |
| Country/State of Origin | Rajkot, India |
| Career | Indian Stockbroker |
| Marital Status | Married |
| Wikipedia Links | https://en.wikipedia.org/wiki/Harshad_Mehta |
Net Worth
Harshad and his brother Ashwin Mehta used to co-manage the business. Harshad Mehta is no longer with us, but his brother is estimated to have a very large net worth. Before his death, Harshad Mehta’s net worth was $475 Million.
Ashwin is said to have fought alone to clear his brother’s name, paying around 1700 crores to banks to clear all debts and NPAs.
Harshad Mehta was directly responsible for embezzling funds worth Rs 1439 crores ($193 million) and causing a scam that resulted in a loss of wealth worth Rs 3542 crores ($475 million) when he was alive!!!
As a result, his personal net worth increased dramatically, while many people lost all of their wealth.
Introduction
The late Harshad Mehta rose from being a business person and an Indian stockbroker to becoming one of the stock market’s biggest names. During the 1990s, he became the talk of the town and took the Indian stock market by storm.
Harshad Mehta’s properties in Mumbai and his ultra-luxurious lifestyle elevated this legend to the status of India’s celebrity stockbroker.
Call him what you want: a skilled stock picker, a flawed genius, or a hustler skilled at exploiting system flaws. Still, no stockbroker in the Indian stock market will ever have the massive following that Harshad Mehta had. Harshad Mehta’s net worth was estimated to be $475 million.
Early life
Harshad Shantilal Mehta was born in Rajkot, India, on July 29, 1954. He was a stockbroker who was known for taking risks and was dubbed “The Big Bull” or “Amitabh Bachchan of the Stock Market.” The 1992 Indian Securities Scam raised suspicions he was a market manipulator. In this article, we will look at Harshad Mehta’s career and net worth.
Although Harshad Mehta was born in Rajkot, he spent his early years in Mumbai before relocating to Raipur. In Bhilai, he attended Janta Public School. He disliked studies and was a big fan of cricket.
After finishing school, he relocated to Mumbai for further studies and employment. He received his bachelor’s degree in commerce from Lala Lajpatrai College. He worked at various jobs such as diamond sorting and cement sales. Soon after, he became interested in the stock market and began working as a jobber.
Later, in the late 1980s, he and his brother founded their firm, Grow More Research and Asset Management. They quickly attracted prominent investors, and he and his firm grew, and he eventually became India’s highest advance taxpayer. He began the Bull Run in the stock market, and he invested heavily in the shares of companies he believed were undervalued.
Career
Harshad began his career by doing a variety of jobs in sales, including selling hosiery, cement, and diamond sorting. Following this, Mehta began his career as a salesperson in the Mumbai office of “New India Assurance Company Limited (NIACL).” It was during this period that Mehta developed a strong interest in the stock market. So, after a few months, Harshad resigned and went to work for a brokerage firm.
Early in the 1980s, Mehta then moved to a lower-level clerical position at one of the brokerage firms, “Harjivandas Nemidas Securities,” where he worked as a “jobber” for the broker “Prasann Pranjivandas.” Harshad Mehta referred to “Prasanna Pranjivandas” as his “Guru” at all times. So, from 1980 to 1990, Harshad worked for and left several brokerage firms to learn as much as he could about the stock market.
Since 1986, Harshad had already begun to invest actively in the stock market. He also founded his brokerage firm, “Grow More Research and Asset Management,” with his brother “Ashwin Mehta,” with the financial help of his colleagues and associates.
By 1990, Harshad had gained so much experience in the “Indian securities industry” that the media, including popular business magazines like “Business Today,” began to refer to him as the “Amitabh Bachchan of the Stock Market.”
It was during this period that people invested in his firm and use its services, which increased Harshad Mehta’s net worth. Mehta began actively trading in the stocks of companies such as “Associated Cement Company” (ACC).
As a result, the value of its (ACC) shares increased from 200 to 9,000. The reason for buying so many ACC stocks at once is that the ACC stock has been undervalued, and by buying so many stocks at once, the ACC stock will be overvalued.
The market simply corrected and revalued the ACC company’s stocks, increasing its stock price. It was around this time that several media outlets covered Mehta’s story, referring to him as a Big Bull and the Amitabh Bacchan of the stock market. He was also featured on the cover page of several publications or news articles, including the popular economic magazine “Business Today,” in an article titled “Raging Bull.”
Family
He was married to Jyoti Mehta and together; they had a son named Atur Mehta. Atur Mehta is a master stockbroker who prefers not to make public appearances. He is not on any social media platforms, so there is no concrete information about him. Harshad’s father is Shantilal Mehta (Businessman) and his mother is Rasilaben Mehta. He has three siblings Sudhir Mehta, Hitesh Mehta, and Ashwin Mehta (Advocate)
In his mid-50s, Harshad’s brother Ashwin Mehta earned a law degree. He is currently practicing in both the Mumbai High Court and the Supreme Court.
Luxury life
One of Harshad Mehta’s most prized possessions was his house in Worli, Mumbai. The house included a mini-theatre, a private swimming pool, a billiards room, and other amenities. His opulent estate was outfitted with high-end amenities that most people can only dream of.
The Harshad Mehta house was made up of eight apartments that were combined to house Harshad Mehta’s family. The combined space of these apartments totaled 12 600 square feet. Harshad Mehta’s mother lived in one of the apartments in the society. Harshad Mehta’s family was a blended one, and he shared this home with his mother, wife, son Aatur Mehta, brothers, and their families.
Mehta’s property portfolio includes two more flats in one of Mumbai’s posh neighborhoods, besides a luxurious apartment in Worli and a collection of swanky cars. Harshad Mehta’s property is in Vandana CHS on Janki Kutir Road, Juhu; Mehta owns two apartments (No. 202 & 301), each of which is 1,150 square feet and has a breathtaking sea view.
Apart from Harshad Mehta’s homes, Mehta also owned the Growmore Research and Assets Management office in Nariman Point’s Maker Chambers. Mehta’s office took up an entire floor and was in one of the most expensive areas.
Awards & Achievements
Harshad Mehta has won no awards. The only achievement he is known for was the scam he pulled. The Harshad Mehta scam is the largest in Indian stock market history.
The scam is estimated to be worth around Rs 4,000 crore (present value of more than Rs 24,000 crore). The scam exposed many flaws in the Indian banking system.
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Quotes
Now here are some Harshad Mehta Quotes and dialogues for inspiration
- Success is a new chapter after failure
- Trust is the most expensive commodity on the planet. It is out of reach for the poor.
- The importance of self-branding cannot be overstated.
- “When there is no money in the pocket, it does not matter if there is Saturn in the horoscope.”
- Now the higher the risk, the more acute the market.”
He is not on any social media platforms.
Conclusion
This post contains everything you need to know about Harshad Mehta’s life. From his childhood memories and early days to today, how he got his massive wealth. Harshad Mehta’s net worth is estimated to be over $475 million.
FAQ
Ashwin Mehta is a well-known and respected Indian lawyer. He is also known as the late Harshad Mehta’s brother. Ashwin Mehta’s net worth is $4 million.
Harshad Mehta’s net worth was $475,000,000 before he died.
Harshad Mehta’s House is currently worth Rs. 32.6 crores. Ashok Samani purchased Harshad Mehta’s house.
References
- www.magicbricks.com– Harshad Mehta’s net worth
- www.caknowledge.com – Harshad Mehta’s net worth
- www.housing.com – Harshad Mehta’s properties
- En.wikipedia.org– Harshad Mehta
- www.hotgossips.in– Harshad Mehta’s net worth
- www.tripplezerobillionaires.com– Harshad Mehta’s net worth
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