Malvinder and Shivinder Singh net worth
Malvinder & Shivinder Singh Net Worth: Malvinder and Shivinder Singh are Indian brothers and businessmen who have a net worth of -$500 million (add up). At one point, the Singer brothers had a combined net worth of $2.5 billion. They lost their fortunes through a series of bad investments and loans to a supposedly proven fraud master.
Malvinder Singh is best known as the former chairman and chief executive of Ranbaxy Laboratories, the Indian subsidiary of Japanese drugmaker Daiichi Sankyo. Ranbaxy was founded by the siblings’ grandfather and then owned by their father, Malvinder and Shivinder, who inherited their family’s 33.5% stake in Ranbaxy in 1999 following the death of their father. After they decided to sell their estate for $2 billion in 2008, Malvinder resigned as chairman and CEO of the company. In addition to their share in Ranbaxy, they have also divested some international assets to focus on their home market in India. To date, they have sold an Australian dental company, a Hong Kong healthcare company and a Vietnamese medical chain for a total of $700 million. They have also reduced their stake in Religare to comply with minimum public shareholding laws and are keen to co-found a bank. Today, the Singh brothers oversee assets such as hospital chain Fortis Healthcare and financial services company Religare. The brothers lent a large sum of money to the guru. As of August 2018, they were fined $500 million for fraud related to the 2008 sale of their pharmaceutical company. They are accused of siphoned off billions of dollars from their financial and healthcare companies.
