Hinduja's $15-billion dynasty: Power, wealth, and succession

The Hinduja family stands among the world's wealthiest, their vast fortune woven into the fabric of global industry. At the heart of their empire is the Hinduja Group, a colossal, closely-held conglomerate whose origins stretch back over a century. .What began as a modest trading venture has transformed into a multinational powerhouse, with stakes in finance, media, and healthcare across nearly 40 countries.Their wealth is staggering — an estimated $15 billion, according to the Bloomberg Billionaires Index. But beyond the numbers, the true force behind the empire is the legendary sibling quartet: the "Fab Four" of global business. Bound by blood, driven by ambition, and fortified by an unbreakable vision, the Hinduja brothers have conquered industries and continents alike, leaving an indelible mark on the world of commerce.But as time weaves its inevitable complexities, even the strongest familial bonds are tested.Humble beginnings, global dominanceThe saga of the Hinduja empire began in 1914 with Parmanand Deepchand Hinduja, a visionary entrepreneur from Shikarpur (then part of undivided India, now in Pakistan). What started as a modest commodity trading business soon grew into a cross-border venture, spanning Mumbai and Iran, dealing in carpets, saffron, textiles, tea, and spices. .By 1919, Parmanand had established a significant presence in Iran, laying the bedrock for a business that would one day shape industries worldwide.But empires are not built without trials.When Parmanand passed away in 1971, his four sons — Srichand (SP), Gopichand (GP), Prakash (PP), and Ashok (AP) — stepped into his shoes. With sharp business acumen and relentless ambition, they navigated geopolitical upheavals, including the 1979 Islamic Revolution in Iran, which forced them to relocate their headquarters to London. This strategic shift marked the beginning of their global diversification, positioning the Hinduja Group as a titan across multiple industries..The Hinduja Group’s ascent to power was anything but accidental. Every acquisition was calculated, every move precise:Gulf Oil International Ltd (1984): The Hindujas’ foray into the oil and gas sector cemented their influence in the global energy market.Ashok Leyland (1987): By acquiring Land Rover Leyland International Holdings (UK), the brothers secured their stronghold in the automotive industry, redefining transportation in India and beyond.IndusInd Bank (1993): Their deep-rooted faith in India's economic future manifested in the launch of IndusInd Bank, a landmark moment in the nation’s financial sector.Fast forward to recent years, and the group’s expansion has only accelerated. In November 2023, the Reserve Bank of India approved their bid to acquire Reliance Capital through IndusInd International Holdings Ltd (IIHL), strengthening their grip on financial services. IIHL also forged a partnership with Invesco Ltd to acquire a 60 per cent stake in Invesco Asset Management India Ltd — yet another testament to their relentless pursuit of growth. Family disputes, succession battlesFor decades, the Hinduja brothers were an unbreakable force, their unity as formidable as their wealth. But even the grandest palaces have their fractures.In 2020, a letter signed by the four Hinduja brothers landed at the centre of a legal dispute over the future of the family’s multi-billion-dollar fortune.The 2014 document says that the assets held by one brother belong to all, and that each man will appoint the others as their executors. But Srichand Hinduja, 84, the patriarch of the family, and his daughter, Vinoo, want the letter declared “worthless”.The dispute between the UK-based family came to a light in a ruling delivered in June 2020 by a London judge, who said that the three other brothers, Gopichand, Prakash and Ashok, tried to use the letter to take control of Hinduja Bank - an asset that was in Srichand’s sole name.. Dispute over assetsSrichand and Vinoo want the court to rule that the letter should have “no legal effect” and cannot be used as a will, the judge said. She said that Srichand had insisted as early as 2016 that the July letter doesn’t reflect his wishes and that the family’s assets should be separated, Bloomberg reported.In a statement, the three brothers said that the litigation will have no impact on their business and that the proceedings “go against our founder’s and family’s values.” They said these principles have stood for decades, especially the idea that “everything belongs to everyone and nothing belongs to anyone.”“We intend to defend the claim to uphold these dearly held family values,” the three brothers said in an email.The dispute laid bare a deeper struggle—one of differing visions on wealth, power, and the future of the dynasty.. Philanthropy: Legacy beyond businessBeyond boardrooms and billion-dollar deals, the Hinduja family has long championed philanthropy. Their Diwali celebrations in London are legendary, drawing dignitaries, ambassadors, and celebrities—an extravagant display of their commitment to cultural integration and community engagement.Their generosity extends beyond festivities. In December 2023, the family made a substantial donation to ‘Zarach,’ a UK charity combatting bed poverty. This act of goodwill underscored their unwavering dedication to social causes, proving that their influence extends far beyond commerce. Opulence and grandeur: The Hinduja lifestyleFrom lavish estates to architectural masterpieces, the Hinduja name is synonymous with luxury. Their 67,000-square-foot mansion on Carlton House Terrace — one of London’s most extravagant private residences — stands as a symbol of their stature.In September 2023, they unveiled the Raffles Hotel at the Old War Office in London, an ambitious project merging heritage with opulence. The grand opening was a spectacle of power and prestige, attended by world leaders, industry magnates, and Hollywood’s elite—a fitting tribute to a family that has mastered the art of blending tradition with modernity..The future: A dynasty at a crossroadsThe Hinduja journey — from a modest trading enterprise to a global powerhouse — epitomises resilience, adaptability, and an unyielding entrepreneurial spirit. The passing of SP in 2023, however, complicated the already delicate family dynamics. As the brothers navigate succession planning and governance, the looming question remains: will the empire they built together withstand the test of time?One question lingers: can they uphold the unity that once defined them?Despite the uncertainties, their impact on global industries remains undeniable. Whether their legacy will be one of enduring strength or a clash of ambitions, the world watches as the Hinduja empire writes its next chapter.