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Sudhir Ruparelia is one such name that pops up whenever we talk about opulent businessmen in the world. With that being said, you must have understood Raparelia’s profession. But still, who is Sudhir Rupareli, and what has he done in life to be this rich?
Sudhir Ruparelia is the CEO of Ruparelia Group, one of the largest conglomerates in Uganda. But why is that the largest?
The company owns hotels, banks, country clubs, and almost 200 other commercial properties. The billionaire was initially expelled from Uganda by Idi Amin, the then president., along with many other Asians, in 1972. By 1985, he had returned to Uganda from America and had started to build his empire.
Sudhir Ruparelia’s Biography
Dr. Sudhir Ruparelia, who is the chairman of the Ruparelia group, was born on January 17, 1956, in Kasese, Uganda. Initially, he attended Bat Valley Primary School in Kampala, where he completed his studies until P6, and then went to Main Street Primary School for primary education.
He also went to Kololo Senior Secondary School in 1971, but when the president at the time kicked him out of the country, he had to move to the UK at the age of 16.
He migrated along with his family, who, together with otherAsians,n moved out of Uganda as per the commands of dictator Idi Amin Dada.
But what is noteworthy is that Ruparelia was the third generation of the Gujarat family born in Uganda. They were asked to leave the country but were later allowed to return.
This is more than enough as an introduction to the affluent Sudhir Ruparelia. Now, you must be enthralled to learn what Sudhir Ruparelia’s net worth is. So, without further ado, let’s jump in.
Sudhir Ruparelia’s Net Worth in 2022
This is one of the interesting topics that even we love to talk about. After all, who doesn’t like to brag about money? So, the Ugandan businessman, Sudhir Ruparelia’s net worth is estimated to be $1.1 billion as of 2022. According to the list of the 10 richest people in Uganda compiled by LifeStyleUG, he comes in at number two.
Since we have already disclosed Sudhir Ruperlia’s net worth, the next thing you would be looking for could be his ‘Income Source,” or how Ruperelia made this much cash.
So, here is your answer. Ruperelia has made some very smart investments in insurance, real estate, banking, education, broadcasting, resorts, and hotels, among other things.
In what else can a person possibly invest? He hasn’t left any. That is one of the reasons Ruparelia has been named Uganda’s wealthiest person. He in fact owns a fourth of the buildings in the Central Business District in Kampala, which he has been denying so far.
Sudhir Ruparelia’s Career
How true is the saying, “Never judge a book by its cover”? It’s something that is applicable to billionaire Sudhir Ruparelia as well. When you first hear about a person having a staggering sum in his bank account, you naturally say, “How lucky is the guy?’ without knowing the back story.
While in the UK, Ruparelia struggled to meet his ends, working in supermarkets, butcheries, and factories. Since his entire family was in search of sustenance, he had to support himself through college.
From these odd jobs, he managed to save $25,000, which he took with him when he returned to his homeland, Uganda, in 1985.
He was more inclined toward business, and thus he grew up with a business mindset. Therefore, Ruparelia invested his entire savings in his start-up.
He initially began to sell Kenyan-imported spirits and beer. But he quickly gave up when a new law was passed in Uganda that made it illegal to bring beer into the country. This was done so that beer could be made better in Uganda. Following the ban, his business was interrupted.
But, Ruperalia was not among those who would easily accept their failure, saying it was fate. So he started from scratch by switching to another business line, which led to the establishment of Crane Forex Bureau.
It was possible because he had connections with foreigners who paid for the goods in foreign currency, ultimately making Ruparelia the only one to own a business of that kind in Uganda.
From whatever income he made, Ruparelia began to save, finally establishing a Crane Bank in 1995. Eventually, he brought his different businesses under one tag and called them “Ruparelia Group,” so obviously, he was the chairman of the Ruparelia Foundation.
In 2020, Nepal’s president, Devi Bhandari, made Rupoarelia the Honorary Consul of the Republic of Nepal in Uganda. He was chosen so that he could help the economy of Uganda get better.
Kampala Kingdom
Kampala Kingdom is a subsidiary of Ruparelia Group. It’s in the capital of Uganda, and it’s mostly a mall and a shipping complex. It has 12 floors with 200 rooms. But what’s praiseworthy is the jaw-dropping parking space that can hold roughly 450 vehicles.
Sudhir Ruparelia’s Family
Dr. Sudhir Ruparelia married Jyotsna in 1977. They are blessed with three children Rajiv, Meera, and Sheena. Since Meera, their elder daughter, married Ravi Kotecha in 2014, they also have a son-in-law to count on. Sheena is the younger daughter, and Ravi is the only son they have.
Conclusion
Sudhir Ruparelia is a billionaire who earned success and fame through business and investments. He is the head of the Ruparelia Group, which he started by putting together the businesses he had already started.
As a kid, he and his family had to leave their homeland, Uganda, as they were ordered by president Idi Amin Dada. After moving to the UK, he went on to work in factories, supermarkets, and butcheries to support his education.
With the money saved, he went back to Uganda and began a business of spirits and beer. Soon after the importation of beer was prohibited, once again dragging Ruparelia to its lowest.
But he stood up again after creating the Crane Forex Bureau, which was a find of its kind in Uganda. Later, he slowly began to own various businesses and brought everything under one shelter and called it “Ruparelia Group.”