Who Is The Richest Man In Uganda ? Sudhir Ruparelia
The Richest Man In Uganda – Sudhir Ruparelia as The Richest Man In Uganda is a business magnate and investor of Indian origin. He is the chairman and majority shareholder in the companies of the Ruparelia Group. His investments are mainly in the areas of banking, insurance, education, broadcasting, real estate, floriculture, hotels, and resorts.
Sudhir Ruparelia is the founder of Ruparelia Group, one of Uganda’s largest conglomerates. The company owns a commercial bank, a string of hotels and country clubs and more than 200 commercial properties. He started building his empire in Uganda in 1985 after returning from the United Kingdom, when he went after being expelled from Uganda by then President Idi Amin in 1972 along with the other Asians in the country.
How did Sudhir Ruparelia become rich?
Ruparelia began by importing beer and salt from Kenya and subsequently started a foreign exchange bureau which laid the foundation for his entry into commercial banking. In 2013 he acquired Victoria University, Kampala.
Sudhir Ruparelia Biography : Net worth and Lifestyle
Sudhir Ruparelia Profile summary
Full name: Sudhir Ruparelia
Born : January 17, 1956 (age 65 years), Kasese, Uganda
Net worth : US$1.2 billion (2019)
Education : A-Levels (United Kingdom)
Children : Rajiv Ruparelia, Sheena Ruparelia, Meera Ruparelia
Organization founded : Ruparelia Group
Sudhir Ruparelia Biography
Ruparelia was born in Kabatoro, Kasese District in the Western Region of Uganda to an upper-middle-class Indian Gujarati family. His great-grandfather reached Mombasa, Kenya in 1897 from India and set up a trading store there before coming to Uganda in 1903. His grandfather was born in Uganda in 1908 and his father in 1932.
Ruparelia has two sisters and one brother. He attended Bat Valley Primary School in Kampala, from P1 to P6, then Jinja Main Street Primary School in Jinja for P7 and Jinja Secondary School. In 1971, he joined Kololo Senior Secondary School.
Sudhir Ruparelia Career Life
He fled to the United Kingdom with his parents in 1972 at the age of 16, when the dictator Idi Amin expelled all Asians from Uganda.
He returned to Uganda in 1985, with US$25,000 earned from several casual jobs including working in supermarkets, factories, and butcheries. Ruparelia started selling beer and spirits imported from Kenya.
In 1989, beer importation was banned to encourage local brewing of alcohol and he realized he could not make beer. But since his customers, who were mainly foreigners, paid him in foreign currency, he started Crane Forex Bureau, the first in Uganda. With his profits, Ruparelia ventured into other businesses, including forming Crane Bank in 1995. Later, he organized his businesses under the umbrella of the Ruparelia Group.
In 2007, Sudhir Ruparelia was awarded an honorary Doctor of Laws degree in business, by the Uganda Pentecostal University, in recognition of his contribution to Uganda’s economic growth.
Sudhir Ruparelia Net Worth 2021
Sudhir Ruparelia is currently the richest man in Uganda , with an estimated net worth of USD1. 2 billion.
Where is Sudhir Ruparelia now?
Ruparelia is married to Jyotsna, since 1977. Together, they are parents to three children. Meera Ruparelia, the oldest, is married to Ravi Kotecha since 2014. You can Find hus present Times Here