Shahid Balwa: Shahid Balwa Net Worth, Biography, Age, Spouse, Children & More

About Shahid Balwa

Mumbai-based entrepreneur Shahid Usman Balwa, a key figure in the DB Group, has made significant strides both in business and philanthropy. Originating from the Chilya Sunni Muslim community with roots in Gujarat, Balwa gained notable recognition as the youngest Indian on Forbes' billionaire list in 2010, securing a spot among the world's ten youngest billionaires and being ranked as India's 50th richest man. His career faced a major challenge when arrested on 9 February 2011 due to allegations related to the 2G spectrum case, involving a ₹2 billion transfer to a DMK party-owned media company. Despite the controversy, which saw his acquittal by a Special CBI Court on 21 December 2017, Balwa has been active in charitable endeavors focusing on health and education in Gujarat, including the establishment of the Balwas High School and Charitable Medical Institution in Phirozpura.

Born

January 04, 1974 in Gujarat, India

Age

52 years

Source Of Wealth

Real Estate

Citizenship

India

Residence

Mumbai

Spouse

Asimah Balwa

Shahid Usman Balwa, a prominent entrepreneur based in Mumbai, Maharashtra, India, hails from the Chilya Sunni Muslim community. His forefathers originally came from Gujarat, where they established their roots.

Shahid Balwa: Family

Shahid Balwa belongs to a close-knit family. He has a brother named Asif Balwa, who was also involved in the 2G spectrum case.

Shahid Balwa: Career Highlights

Shahid Balwa rose to prominence as one of the promoters of the Mumbai-based DB Group, a conglomerate with diverse business interests. His entrepreneurial endeavors have significantly contributed to his success.

Shahid Balwa: Companies

Shahid Balwa's business ventures include DB Realty, a leading real estate company, and Swan Telecom, a telecommunications company. These companies have played a pivotal role in shaping his career and establishing his business empire.

Shahid Balwa: Major Achievements

Shahid Balwa achieved remarkable success at a young age. In 2010, he became the youngest Indian to be featured on the prestigious Forbes List, recognizing his immense wealth and business acumen. He was also ranked among the 10 youngest billionaires in the world and India's 50th richest man by Forbes in the same year.

Shahid Balwa: Awards & Achievements

Shahid Balwa's contributions to the business world have been widely recognized. He has received numerous awards and accolades, including the CNBC-TV18 Young Business Leader Award in 2008 and the Ernst & Young Entrepreneur of the Year Award in 2009.

Shahid Balwa: Personal Life & Legacy

Shahid Balwa leads a private personal life. He is known for his philanthropic endeavors, particularly in the areas of health and education. His charitable work includes the establishment of the Balwas High School and Charitable Medical Institution in Phirozpura, Gujarat.

Shahid Balwa: Trivia

Shahid Balwa's involvement in the 2G spectrum case garnered significant media attention. He was arrested by the CBI in 2011 and faced allegations of corruption and financial irregularities. However, he was acquitted of all charges in 2017 by a Supreme Court-appointed Special CBI Court.

Wealth History

Timeline

N/A

Shahid Usman Balwa, an entrepreneur based in Mumbai, Maharashtra, India, and one of the promoters of Mumbai-based DB Group, comes from the Chilya Sunni Muslim community. His forefathers were from Gujarat.

2010

Shahid Usman Balwa becomes the youngest Indian to feature on the Forbes List, ranking among the 10 youngest billionaires in the world. He is also ranked as India's 50th richest man by Forbes.

9 February 2011

Shahid Balwa is arrested by the CBI for his alleged role in the 2G spectrum case. The allegation is that DB Group transferred ₹2 billion to a media company owned by members of the DMK party.

2008

DB Realty floats Swan Telecom and purchases 2G licenses.

29 March 2011

The CBI also arrests two executives, including Balwa's brother, Asif Balwa, in connection with the 2G spectrum case.

29 November 2011

The Delhi High Court accepts the bail plea of Shahid Balwa and others in the 2G spectrum case.

21 December 2017

Shahid Balwa is acquitted of all charges relating to his role in the 2G spectrum case by a Supreme Court-appointed Special CBI Court.

N/A

Shahid Balwa focuses on charitable work, particularly in the areas of health and education. He has established the Balwas High School and Charitable Medical Institution in Phirozpura, Gujarat.

Shahid Balwa : FAQs

What is Shahid Balwa's net worth?

As of 2010, Shahid Balwa's net worth was $1.00 billion.

What are Shahid Balwa's main sources of wealth?

Shahid Balwa's main source of income comes from Real Estate.

How old is Shahid Balwa?

Shahid Balwa is 52 years old.

How many children does Shahid Balwa have?

Shahid Balwa has 2 children.

Who is Shahid Usman Balwa and what is his connection to the DB Group?

Shahid Usman Balwa is an entrepreneur based in Mumbai, Maharashtra, India, and one of the promoters of the Mumbai-based DB Group.

What is Shahid Usman Balwa's background and community?

Shahid Usman Balwa comes from the Chilya Sunni Muslim community, with his forefathers hailing from Gujarat.

What were Shahid Usman Balwa's achievements on the Forbes List in 2010?

In 2010, Shahid Usman Balwa was the youngest Indian to feature on the Forbes List, ranked among the 10 youngest billionaires in the world, and was listed as India's 50th richest man by Forbes.

What was Shahid Usman Balwa's involvement in the 2G spectrum case?

Shahid Usman Balwa was arrested by the CBI on 9 February 2011 for his role in the 2G spectrum case, with allegations involving a ₹2 billion transfer to a media company owned by members of the DMK party. He was acquitted of all charges by a Special CBI Court on 21 December 2017.

How does Shahid Usman Balwa contribute to charitable causes?

Shahid Usman Balwa focuses on charitable work in health and education, including contributions to the Balwas High School and Charitable Medical Institution in Phirozpura, Gujarat.