B.R. Shetty

$2.80 B

Ranked #804 in World

About B.R. Shetty

Born in Udupi, India, in 1942, Bavaguthu Raghuram Shetty, a pharmaceutical education graduate from Manipal, emerged as a pioneering figure in the UAE's healthcare and financial sectors after immigrating in 1973. Shetty founded the New Medical Centre Health (NMC) and transformed it into the largest private healthcare provider in the UAE. Additionally, he acquired and expanded UAE Exchange, making significant inroads into the global remittance market. Shetty's business acumen led to the IPO of NMC on the London Stock Exchange in 2012, raising $330 million. Beyond his entrepreneurial ventures, Shetty has committed to philanthropy by signing The Giving Pledge. His contributions to society and business have earned him multiple accolades, including the Padma Shri in 2009. Shetty's initiatives extend into education and healthcare developments in India, promising investment in the healthcare sector and a focus on medical education.

Born

January 01, 1942 in Udupi, Madras Presidency, British India (now Karnataka, India)

Age

84 years

Source Of Wealth

Healthcare

Industries

Healthcare

Citizenship

India

Residence

Abu Dhabi

Spouse

Chandrakumari Shetty

Children

Binay Shetty, Bindu Shetty, Brahmavar Shetty

B.R. Shetty (Bavaguthu Raghuram Shetty) was born on August 1, 1942, in Udupi, India, into a Tulu-speaking Bunt family. He completed his pharmaceutical education in Manipal, India, and served as Vice-Chairman of the Municipal Council in Udupi. Shetty married Chandrakumari Shetty and has four children.

B.R. Shetty: Family

B.R. Shetty is married to Chandrakumari Shetty and has four children.

B.R. Shetty: Career Highlights

Shetty immigrated to the UAE in 1973 and founded New Medical Centre Health (NMC) in 1975. NMC grew to become the largest private healthcare provider in the UAE. Shetty acquired UAE Exchange from Daniel Varghese in 1980 and expanded it to over 31 countries with 800 direct offices. He also acquired Travelex, a major foreign exchange company, in 2014.

In addition to his healthcare and financial ventures, Shetty founded NMC Neopharma, a UAE-based pharmaceutical manufacturer, in 2003. He led NMC through an IPO on the London Stock Exchange in 2012, raising $330 million. Shetty announced plans to build the first medical university in Abu Dhabi in 2016 and invest $5 billion in developing healthcare facilities across India in 2019.

B.R. Shetty: Companies

B.R. Shetty founded or acquired several companies, including:

New Medical Centre Health (NMC)
UAE Exchange
Travelex
NMC Neopharma

B.R. Shetty: Major Achievements

Shetty's major achievements include:

Building NMC into the largest private healthcare provider in the UAE
Expanding UAE Exchange to over 31 countries
Acquiring Travelex, a major foreign exchange company
Leading NMC through an IPO on the London Stock Exchange
Announcing plans to build the first medical university in Abu Dhabi
Announcing plans to invest $5 billion in developing healthcare facilities across India

B.R. Shetty: Awards & Achievements

Shetty received numerous awards and recognitions, including:

Abu Dhabi Awards (2005)
Distinguished Entrepreneur Award by the U.S. India Friendship Society (2005)
Pravasi Bharatiya Samman award from the Indian government (2007)
Padma Shri by the President of India (2009)

B.R.
Shetty: Personal Life & Legacy

B.R. Shetty was known for his philanthropic efforts and signed The Giving Pledge, committing to donate the majority of his wealth to charitable causes. He was also involved in various other activities, including politics, education, and community service.

B.R. Shetty: Trivia

Shetty was an activist of the erstwhile Jan Sangh, the predecessor to the BJP.
He played a key role in organizing a visit of Modi to Abu Dhabi.
Shetty invested in a medical institution in Uttarakhand, India.
He was the founder and patron of the Indian Pharmaceutical Association in the Emirates.
Shetty served as a member of the Advisory Board (Financial Sector), Economic Department, Government of Dubai, UAE.
He was a member of the Pharmaceutical Committee, Dubai.
Shetty was the Chairman of Abu Dhabi Indian School, Abu Dhabi Indian School-Branch 1, Al Wathba, and Bright Riders School until 2019.
He was elected as the chairman to the board of directors of UAE Exchange in 2015.
Shetty was named chairman of The Indian Business/Professional Group in 2016.
He was nominated as a member of the UAE medical council by Sheikh Mohammed bin Rashid al Maktoum in 2016.
Shetty announced plans to invest Rs 1000 crore ($157.3 million) to produce a film based on the novel Randamoozham in 2017.

Wealth History

Timeline

August 1, 1942

B.R. Shetty is born in Udupi, India.

1973

B.R. Shetty immigrates to the UAE.

1975

B.R. Shetty founds New Medical Centre Health (NMC).

1980

B.R. Shetty acquires UAE Exchange from Daniel Varghese.

2003

B.R. Shetty founds NMC Neopharma, a UAE-based pharmaceutical manufacturer.

2005

B.R. Shetty is awarded the Abu Dhabi Awards, the highest civilian distinction in the Emirate.

2005

B.R. Shetty is presented the Distinguished Entrepreneur Award by the U.S. India Friendship Society.

2007

B.R. Shetty receives the Pravasi Bharatiya Samman award from the Indian government.

2009

B.R. Shetty is awarded the Padma Shri by the President of India.

2012

NMC leads through an IPO on the London Stock Exchange, raising $330 million.

2014

B.R. Shetty acquires Travelex, a major foreign exchange company.

2015

B.R. Shetty is elected as the chairman to the board of directors of UAE Exchange.

2016

B.R. Shetty is named chairman of The Indian Business/Professional Group.

2016

B.R. Shetty is nominated as a member of the UAE medical council by Sheikh Mohammed bin Rashid al Maktoum.

2016

B.R. Shetty announces plans to build the first medical university in Abu Dhabi.

2017

B.R. Shetty announces plans to invest Rs 1000 crore ($157.3 million) to produce a film based on the novel Randamoozham.

2019

B.R. Shetty announces plans to invest $5 billion in developing healthcare facilities across India.

B.R. Shetty : FAQs

What is B.R. Shetty's net worth?

As of 2019, B.R. Shetty's net worth was $2.80 billion.

What are B.R. Shetty's main sources of wealth?

B.R. Shetty's main source of income comes from Healthcare.

In which industry does B.R. Shetty primarily operate?

B.R. Shetty is primarily involved in the Healthcare industry.

How old is B.R. Shetty?

B.R. Shetty is 84 years old.

How many children does B.R. Shetty have?

B.R. Shetty has 4 children.

Who is B.R. Shetty and what is his background?

B.R. Shetty, born on August 1, 1942, in Udupi, India, is a renowned businessman and philanthropist. He comes from a Tulu-speaking Bunt family and completed his pharmaceutical education in Manipal, India. Shetty also served as the Vice-Chairman of the Municipal Council in Udupi and married Chandrakumari Shetty, with whom he has four children.

How did B.R. Shetty establish his career in the UAE?

B.R. Shetty immigrated to the UAE in 1973 and founded New Medical Centre Health (NMC) in 1975, which grew to become the largest private healthcare provider in the UAE. He also acquired UAE Exchange in 1980, expanded it internationally, and acquired Travelex in 2014. Shetty further founded NMC Neopharma in 2003 and led NMC through a successful IPO in 2012.

What philanthropic efforts has B.R. Shetty been involved in?

B.R. Shetty has made significant contributions to philanthropy by signing The Giving Pledge, thereby committing to donate the majority of his wealth to charitable causes. His philanthropic efforts are a testament to his commitment to giving back to the community.

What are some of the other activities and roles B.R. Shetty has undertaken?

Apart from his business endeavors, B.R. Shetty has been actively involved in various activities including being an activist of the erstwhile Jan Sangh, organizing a visit of Modi to Abu Dhabi, investing in medical institutions, founding the Indian Pharmaceutical Association in the Emirates, and holding positions such as chairman and member on several advisory boards in UAE.

What awards and recognition has B.R. Shetty received for his contributions?

B.R. Shetty's contributions have been recognized with numerous awards, including the Abu Dhabi Awards, the highest civilian distinction in the Emirate, in 2005, the Distinguished Entrepreneur Award by the U.S. India Friendship Society in 2005, the Pravasi Bharatiya Samman award from the Indian government in 2007, and the prestigious Padma Shri by the President of India in 2009.