The wave of separation during the Independence movement was significant to people on both sides. As the nations were divided, citizens altered their lives, while some lost their wealth and assets, many prospered. One such family, that flourished when Gandhi-Nehru tussled for power over the Independent nation, was the Wadia family — A Parsi family from Surat, currently residing in Mumbai. The family amassed immense wealth in the middle of the eighteenth century while working as shipbuilders for the British East India Company.
Beginning of the Wadia family
Neville Wadia, a descendant of the main line of the family, wed Dina Jinnah, the sole child of Pakistan’s founder Muhammad Ali Jinnah, in the final years of the British Raj. Despite being the only living ancestors of Pakistan’s founding fathers, the family chose to remain in India and continue operating their factories and mills there rather than immigrate to Pakistan. They enjoyed great prosperity during the Nehru-Gandhi era, and they currently own the Wadia Group of Enterprises, one of India’s largest industrial conglomerates.
Founded in 1736 by Lovji Nusserwanjee Wadia, laid grounds for the family’s long history in shipbuilding. In the years that followed, his company produced 355 ships, including the first vessels for the British navy outside of England. He obtained agreements with the British East India Company to construct docks and ships in Bombay. Lovji’s descendant Nusli Wadia is the group’s chairman at the moment.
The business portfolio of the Wadia family
150 years have passed since the founding of the Bombay Burmah Trading Corporation, Limited (BBTCL). As a publicly traded firm, the company built its reputation on teak in 1863, and the rest is history. BBTCL has expanded its business activities to include tea, coffee, other plantation products, auto electric and white goods parts, horticulture and landscaping services, healthcare items like dental, orthopedic, and eyeglasses, as well as white goods and other parts of the automotive industry. BBTCL is currently one of the few pre-independence era businesses still thriving with combined yearly revenue at $1.2 billion according to their official website.
Started in 1879 by Nowrosjee Wadia, for more than 125 years, Bombay Dyeing has consistently announced dividends. Through a network of more than 300 Exclusive Retail stores across India, the company distributes clothing for men, women, and children as well as bed, bath, and home furnishings products. The business sells to the best Bed and Bath businesses in the world on the global market.
One of India’s most well-known and esteemed brands is Britannia, which started in 1918, and has ranked as the top food brand for ten years running. Every day, almost 2 million individuals purchase food from Britannia as per the official website. Britannia’s Board of Directors has Ness and Jehangir Wadia as its members.
Go First was founded as GoAir on November 4, 2005, byJeh Wadia, son of Indian industrialist Nusli Wadia. The Wadia group has also ventured into real estate with Bombay Realty.
Wadia Family net worth
As per Bloomberg, Wadia family’s net worth is of Rs $7.90 billion. The tycoon’s net worth individually is estimated to be $4 billion, as per Forbes.