Pawan Munjal is a well-known name in the automotive industry. The Indian billionaire is the Executive Chairman and Whole-Time Director of Hero MotoCorp. The company is the world's largest producer of two-wheelers by volume. It was founded by his late father Brijmohan Lall Munjal.
Pawan Munjal's net worth
According to Forbes, Pawan Munjal has a net worth of USD 1.3 billion as of July 25, 2023. This is around Rs 10,640 crore. While Pawan Munjal & family had a net worth of USD 3.55 billion (around Rs 28,800 crore) as of December 10, 2022, the magazine reported. Pawan is ranked 2195 on the list of the richest people in the world today.
The 68-year-old inherited a stake in the Hero group after his father's demise in 2015. The market capitalisation of Hero Motocorp was 627.47 billion INR as of July 25, 2023. This is around Rs 62,747 crore. The share price of the company was Rs 3,139.85 on Tuesday.
Pawan's younger sibling Sunil stepped down as Hero' s joint managing director in 2016 to run his own independent businesses. Pawan is the third child of Brijmohan Lall Munjal and Santosh Munjal. Pawan has three children including daughter Vasudha, who founded Choko La, a brand of premium chocolates. She was appointed to Hero's board in April 2022.
Munjal has held executive positions at key Indian industry bodies CII and SIAM. Hero MotoCorp sells its products in over 47 countries across Asia, Africa, Latin America and the Middle East. The company started its operations in 1984 as a joint venture between Hero Cycles of India and Honda of Japan. The duo parted ways in 2011. After this, Pawan led a global expansion with factories in Colombia and Bangladesh.
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