Meet Kolkata’s richest man, richer than Narayana Murthy, Nusli Wadia, his net worth is…, his business is…

Kolkata is one of the Top 10 Indian cities with the highest number of billionaires, according to the Hurun India Rich List 2023. This bustling city, known as the City of Joy, houses several industries run by prominent companies in both the public and private sectors. These industries primarily include steel, mining, minerals, and cement. But who holds the title of Kolkata’s wealthiest resident? He hails from the western state of Rajasthan and is Marwari—an ethnic group known for business and financial smarts.

Benu Gopal Bangur, the former Chairman of Shree Cement, has been named Kolkata’s wealthiest individual. According to Forbes, his real-time net worth stands at an impressive USD 7.6 billion (approximately Rs 63,120 crore). He ranks as the 319th richest person globally and the 26th richest person in India as of 2023. This puts him ahead of notable billionaires like NR Narayana Murthy and Nusli Wadia in terms of wealth. This immense fortune is due to his majority stake in the cement manufacturing company, which currently boasts a market capitalization of Rs 87,351 crore (as of August 2023), as reported by DNA India.

His family’s business legacy dates back to the late 1800s, when his grandfather, Mungee Ram Bangur, along with his brother Ram Coowar Bangur, laid the foundation for the Bangur business empire. The Bangurs became one of India’s top business families in the 1950s and 1960s, building a vast empire that included various industries.

Shree Cement, the cornerstone of Benu Gopal Bangur’s wealth, was founded in 1979 in Jaipur, Rajasthan, and later moved its headquarters to Kolkata. Following a family split in the 1990s, the Bangur empire was divided among Mungee’s grandsons—Balbhadra Das Bangur, Niwas Bangur, Kumar Bangur, and Benu Gopal Bangur—and Ram’s grandson, Laxmi Niwas Bangur. Benu Gopal Bangur took control of Shree Cement during this division and led it to become one of India’s leading cement manufacturers.

Benu Gopal Bangur’s education

Benu Gopal Bangur is an alumnus of Calcutta University, holding a B.Com (Hons.) degree. In October 2022, at the age of 92, he stepped down as Chairman of the Board of Shree Cement. His son, Hari Mohan Bangur, who is a chemical engineer and graduated from IIT Bombay, took over as the Chairman. Hari Mohan’s son, Prashant Bangur, serves as the Vice Chairman of the company. Prashant holds an MBA in finance and logistics from the Indian School of Business, Hyderabad, and a Mathematics Honours degree from St. Xavier’s College, Kolkata.

Benu Gopal Bangur, now widowed, has two sons. He resides in a luxurious mansion in Kolkata, which spans 51,000 square feet and features amenities such as a home theatre and gym, according to DNA India. Despite stepping down from his official role, his legacy remains significant through the continued success of Shree Cement under his family’s leadership.