Lalit Khaitan: India’s Newest Billionaire Is A Teetotaller-turned-Liquor Baron

The newest billionaire in India is Dr. Lalit Khaitan, a liquor mogul. The 80-year-old has become one of the exclusive few in India after profiting from the nation’s explosive expansion in the alcoholic beverage industry.

Dr. Khaitan has been instrumental in influencing the industrial landscape as chairman of Radico Khaitan, a $380 million-a-year firm situated in Delhi. The company’s well-known products include Magic Moments vodka, 8 PM whisky, Old Admiral brandy, and the esteemed Rampur single malt, which is produced in the tranquil Himalayan foothills.

The following details pertain to the most recent billionaire:

1) According to Forbes, Dr. Lalit Khaitan’s publicly listed company’s shares increased by more than 50% this year. Considering that he owns a significant forty percent of the firm, his projected net worth has increased to an astounding $1 billion.

2) Dr. Khaitan attended St. Xavier’s College in Kolkata and Mayo College in Ajmer. He finished a course at Harvard University in the United States on managerial finance and accounting and has a bachelor’s degree in engineering from BMS College of Engineering, Bangalore.

3) The ailing Rampur Distillery & Chemical Company Ltd. was taken over by Dr. Khaitan’s father, GN Khaitan, in 1972. Under his leadership, the business changed its name to Radico Khaitan.

4) The whiskey baron was a teetotaler before his father bought the Rampur distillery firm. He comes from a traditional Marwari household.

5) He has won several professional honors; the UPDA’s “Lifetime Achievement Award” being the most recent one, given in December 2017. Dr. Khaitan regularly participates in programs aimed at development as well.