As of October 2023, Harpal Randhawa has an estimated net worth ranging between $4 to $5 billion, solidifying his status as one of the wealthiest Indians globally and holding the distinction of being Zimbabwe’s wealthiest individual.
His primary sources of income were tied to two companies that he both founded and chaired:
GEM Holdings: This private equity firm boasts a diverse global portfolio, encompassing over 100 companies spanning multiple sectors, including mining, real estate, infrastructure, energy, technology, and healthcare. GEM Holdings is currently valued at $4 billion.
RioZim: Operating as a diversified mining company based in Zimbabwe, RioZim specializes in the production of various resources such as gold, coal, nickel, copper, and diamonds. Among its notable assets are the Renco Gold Mine, Cam and Motor Gold Mine, Dalny Gold Mine, Murowa Diamond Mine, Sengwa Coal Mine, and Empress Nickel Refinery. The estimated worth of RioZim stands at $3 billion.
In addition to his roles at GEM Holdings and RioZim, Harpal Randhawa also contributed significantly to his income by serving as a senior advisor at Safanad, a real estate company, and as a partner at Sabre Capital Worldwide, an investment banking firm.
More About Harpal Randhawa
- Name: Harpal Randhawa
- Born Date: 1963
- Birthplace: India
- Died: September 29, 2023
- Occupation: Businessman
Early Life & Career:
Harpal Randhawa, born in 1963, was an Indian billionaire who tragically lost his life in a plane crash in Zimbabwe on September 29, 2023.
He served as the owner of RioZim, a Zimbabwean company specializing in gold and coal production, toll refining of nickel and copper, as well as owning a partial stake in the Murowa diamond mine, which was linked to RioZim.
Furthermore, Harpal Randhawa was the esteemed founder and chairman of GEM Holdings, a private equity firm valued at $4 billion. His extensive business interests extended across the mining, real estate, and finance sectors, spanning Africa, Asia, and Europe.
Before his entrepreneurial ventures, he had a notable 12-year partnership at Sabre Capital Worldwide, a global financial services firm. Additionally, he served as a senior adviser at Safanad, a real estate investment firm, for a period of three years.
His academic journey led him to the Institute of Chartered Accountants in England and Wales (ICAEW) and the University of London.
In his personal life, he was a married man and a father to a son named Amer Kabir Singh Randhawa, who was also a trained pilot. Tragically, both father and son met their untimely demise in the same plane crash, alongside four others.
Harpal Randhawa held a prominent position within Zimbabwe, with close connections to both the government and the business community. He was also in the midst of planning a new venture in India.
Source: JanBharat Times