From rags to riches: Meet India’s wealthiest beggar with a net worth of Rs 75 million
Jain earns Rs 60,000-75,000 monthly from 10-12 hour workdays
Dubai: Bharat Jain, who has spent over 40 years begging on the streets of Mumbai, is now one of the wealthiest individuals in the city, with a fortune of Rs 75 million (approximately Dh 3.2 million).
According to an Economic Times report, Jain, often referred to as the world's richest beggar, defies traditional views of begging. He owns several properties in Mumbai, including two flats worth Rs 14 million and two shops generating a monthly rental income of Rs 30,000.
Jain's journey from poverty to wealth is a testament to the power of determination, hard work, and smart financial decisions. His story challenges the conventional notion that begging is a sign of poverty and highlights the potential for success in even the most unconventional professions.
Humble beginnings, extraordinary success
Jain's journey began in poverty, with limited opportunities for education. However, he turned adversity into opportunity, working tirelessly to build a substantial income through begging. Despite his modest profession, Jain has managed to amass a fortune that surpasses many salaried individuals.
A lucrative trade
For over 40 years, Jain has relied on begging as his primary source of income, earning between Rs 60,000 and Rs 75,000 monthly. His daily earnings range from Rs 2,000 to Rs 2,500, depending on his location and the generosity of passers-by.
Smart investments, secure future
Jain's wealth isn't solely derived from begging. He has made strategic investments, including purchasing two flats in Mumbai worth Rs 1.4 crore and two shops in Thane, which generate a monthly rental income of Rs 30,000. These investments have secured a comfortable future for his family.
Family man
Despite his unconventional profession, Jain has prioritized his family's well-being. His two sons received quality education and now contribute to the family business, a stationery store.
Philosophical approach
Jain's perspective on begging is unique. He views it as a choice, not a necessity. He believes in giving back to society, donating to temples and charities. This philanthropic nature contrasts sharply with the stereotype of beggars as destitute individuals.
The dark side of begging
Jain’s story is not an isolated one. India’s begging industry is a multi-billion-rupee sector, valued at approximately Rs 1.5 lakh crore, with numerous beggars amassing significant wealth.
According to an Economic Times report, individuals like Sambhaji Kale, with a net worth of Rs 15 million, and Laxmi Das, with a net worth of Rs10 million, have also built considerable fortunes through begging. This reflects a thriving underground economy where begging has become a profitable business for those who know how to navigate it.
While Jain's success story is inspiring, it's important to recognize the darker side of begging. Many beggars, particularly vulnerable individuals, are exploited by organized crime syndicates. Despite government efforts to curb this illegal activity, including fines and arrests, these measures have been largely ineffective.