⬅ # 374 André Esteves|# 376 Law Kar Po

# 375 Hasmukh Chudgar 


Real Time Net Worth
as of 5/18/2024

# 375 Hasmukh Chudgar 


Real Time Net Worth
as of 5/18/2024
OccupationFounder, Intas Pharmaceuticals
Source of WealthPharmaceuticals
ResidenceAhmedabad, India
Marital StatusMarried
Age-Adjusted Net Worth$1.00B
Hasmukh Chudgar
Hasmukh Chudgar
Net worth: $7.64B

Self-Made Score 

Wealth History

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Hasmukh Chudgar is the founder of Intas Pharmaceuticals, a multinational pharmaceutical company headquartered in Ahmedabad, India.
He established Intas in 1977 and formally incorporated it in 1985.
Chudgar's sons, Nimish and Binish, now oversee operations of the company.
Intas Pharmaceuticals boasts a revenue of $2.5 billion and operates 15 factories globally.
The company's factories are located in India, Europe, and Mexico, with 10 in India and the rest spread across Europe and Mexico.

Investment and Ownership

In 2013, ChrysCapital acquired a 16.14% stake in Intas Pharmaceuticals.
Singapore-based Temasek Holdings purchased 10.13% stake from ChrysCapital in 2015.
Chudgar family retains the majority ownership of Intas Pharmaceuticals, with 83.85% stake.
As of May 2020, ChrysCapital bought back Capital International's 3.01% stake in the company.
Temasek Holdings currently holds 10.13% stake, while ChrysCapital owns 6.02%.

Global Operations

Intas Pharmaceuticals operates 22 manufacturing plants globally.
These facilities include 17 in India, and others in Greece, the United Kingdom, and Mexico.
The company's manufacturing capabilities allow for the production and export of over 1 billion solid dosages and 5 million injectables.

Biologics Division

Intas Biopharmaceuticals, a subsidiary focusing on biosimilar products, was incorporated in 2006.
It develops and manufactures biosimilar products based on recombinant DNA and monoclonal antibodies.
The division gained EU-GMP certification in 2007, becoming the first Indian company to receive such certification.
Intas Biopharmaceuticals launched its first biosimilar product, Filgrastim, in Europe in 2015.

Investment Activity

In 2022, the Abu Dhabi Investment Authority acquired a 3% stake in Intas Pharmaceuticals from Temasek Holdings.

How long would it take you to become as rich as Hasmukh Chudgar?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Hasmukh Chudgar's net worth of $7.64B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

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Hasmukh Chudgar is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Hasmukh Chudgar, Pharmaceuticals is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey