What is Harshad Mehta Net Worth?
|Full Name||Harshad Shantilal Mehta|
|Net Worth in USD||$ 480+ Million [Approximately]|
|Net Worth in INR||₹ 3566+ Crores [Approximately]|
Based on the reports published by multiple media sources,
Harshad Mehta Net Worth is estimated to be more than $480 Millions, which is equivalent to be more than ₹ 3566 Crores in Indian Rupees.
Harshad Mehta was a very optimistic person, who always believed in himself and held a great potential.
Harshad used to work with his brother Ashwin, and they both used to handle the things in their business and Stocktrading.
Important Fact - It's an estimation that Ashwin Mehta also has a very high net worth.
In this article,
You’ll be getting all of the information related to Harshad Mehta’s Net Worth, Age, Bio, Wiki, Biography, Harshad Mehta’s scam and everything you need to know about him.
Who was Harshad Mehta?
Harshad Mehta was an Indian stocktrader.
Harshad had also achieved a lot in a very short period of time.
Apart from that,
Harshad’s involvement in the “1992 Indian securities scam” made him a market manipulator.
Some Information about Harshad Mehta
|Real Name||Harshad Mehta|
|Nickname||Big Bull, The Amitabh Bacchan of Stock Market|
|Hometown||Paneli Moti, Rajkot, Gujrat|
|Birth Date||July 29, 1954|
|Place of Death||Thane Civil Hospital, Mumbai|
|Date of Death||December 31, 2001|
|Death Cause||Heart Attack|
(At the time of his death)
|Estimated Harshad Mehta Net Worth||$ 480+ Million|
Harshad Mehta was born on July 29, 1954 in “Paneli Moti in Rajkot, Gujrat“.
He belonged to a traditional Gujrati Jain family.
His father “Shantilal Mehta” was a businessman and had a traditional beliefs, While his mother “Rasilaben Mehta” was a houesewife.
Harshad from his childhood always wanted to earn a lot of money, and that is the reason behind his unstability during his early years.
He always used to find numerous way to earn money and never settled.
Harshad completed his primary and higher secondary education from “Holy Cross Senior Secondary School, Raipur, Chattisgarh” and then completed his B.Com graduation from “Lala Lajpat Rai College of Commerce and Economics” from Mumbai.
Harshad started his career by doing multiple jobs such as jobs related to sales, by selling hosiery, Cement and sorting diamonds.
After these, Mehta started his career by working as a sales person in “New India Assurance Company Limited (NIACL)” in Mumbai office.
It was this time when Mehta developed huge interest in stock market.
So, after some months Harshad himself resigned and joined a brokerage firm,
In the early 1980s,
Mehta moved to a lower level clerical kind of job at one of the brokerage firm called, “Harjivandas Nemidas Securities” where he worked a ‘jobber‘ for the broker “Prasann Pranjivandas”
Harshad Mehta always referred to “Prasanna Pranjivandas” as his “Guru”.
So, from 1980 to 1990, Harshad joined and resigned multiple Brokerage firms in order to learn many of the things in stock market.
Harshad had already started to actively invest in the stock market,
With the financial help of his colleagues and associates, he also started his very own brokerage firm, and named it as “Grow More Research and Asset Management” with his brother “Ashwin Mehta“
Harshad had became so experienced in the "Indian securities industry", that the media including popular business magazines such as "Business Today" started to refer him as "Amitabh Bachchan of the Stock market".
It was this time, when People actually started investing in his firm and utilize it’s services, which in turn increased Harshad Mehta Net Worth.
In the year 1990,
Mehta started actively trading in the shares of companies like “Associated Cement Company (ACC).
Due to this, the price of its (ACC) shares increased from ₹ 200 to ₹ 9,000.
The reason behind buying ACC stocks excessively is that, the ACC stock had been undervalued, and after buying this much stocks at the same time,
The market simple corrected and revalued the stocks of the ACC company, which increased it’s stock price.
It was this time, when multiple medias covered Mehta’s story referring to him as a Big Bull and The Amitabh Bacchan of Stock Market.
He was also covered in a cover page article of a number of publications or news articles including the popular economic magazine “Business Today“, in an article titled “Raging Bull“.
Harshad Mehta Lifestyle
Due to such enormous successes in stock market, Harshad brought a sea facing 15,000 square feet penthouse in Worli.
It also had it’s very own Golf Course and a Swimming Pool. The magazines also covered the range of cars owned by Harshad Mehta, some of which are:
- Toyota Corolla
- Lexus LS400
- Toyota Sera
These were one of the most pretty expensive cars at that time, even the richest people from India did not own them in those times.
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harshad Mehta and his associates were later alleged for manipulating the stocks and the rise in “Bombay Stock Exchange” service.
It is known that, the loan amounts and receipts were used in short term bank to bank lending for brokering and investing in stocks.
Mehta was charged with 27 criminal charges before his death for using excessive stock manipulations and used financed but worthless bank receipts.
For using the loan amount from the banks, Harshad Mehta brokered for "Ready Forward" transactions between multiple banks.
The financial scam valued ₹ 100 Billion, which is equivalent to around $ 1.5 billion. The scandal was done in “Bombay Stock Exchange“.
Out of all the scams done by Mehta,
The total 1992 scam by Harshad Mehta was worth ₹ 4025 crore. The biggest case or charge in this was of ₹ 600 crores fraud done with SBI.
Harshad Mehta in his personal life was a very intelligent person.
He always believed in his instincts and loved to take risks.
Apart from that,
Mehta always tried to be a big Bull, whether it’s his personal life, work life or financial life.
He also was married to Jyoti Mehta and had a son together,
Harshad Mehta’s Son – Atur Mehta
His son’s name is Atur Mehta
Mehta with his brothers got arrested on November 9, 1992 by CBI.
After being in a criminal trial for 9 years, Mehta died of heart attack in the late 2001.
Sources of Earning
Harshad Mehta in his life earned through multiple sources and did not depend on any one source of income, such as
- Stock Market Trading
- Brokerage Firm
Harshad Mehta Net Worth 2021
As mentioned earlier,
Harshad Mehta in his life earned through multiple sources.
And, at the time of his death in the year 2001,
Harshad Mehta’s Net Worth was estimated to be more than around $ 480 millions, which is equivalent to be more than ₹ 3566 Crores in Indian Rupees.
Frequently Asked Questions
Was Harshad Mehta richer than Dhirubhai Ambani?
No, At the time of Dhirubhai Ambani’s death, Dhirubhai’s net worth was estimated to be more than ₹ 67,000 Crores and Harshad Mehta’s net worth was around ₹ 3566 Crores.
What does Harshad Mehta’s son do nowadays?
Harshad Mehta’s son is Atur Mehta. He is the Co-Founder of “Infivention Pvt Ltd” and he has completed Engineering.
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Harshad Mehta’s Real Interview
Conclusion and Final Thoughts of the Author
After researching a lot about Harshad Mehta Net Worth and Biography,
I came to know,
many of the hidden facts from his life,
From all of that, i can surely say that
Much effort, much prosperity– Euripides
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