Early Life and Business Success
Savitri Jindal was born in 1950 in Tinsukia, a town in the Indian state of Assam. Her journey to becoming one of the world’s richest individuals began when she married Om Prakash Jindal, the founder of the Jindal Group, in 1970. Under her husband’s leadership, the company grew from a humble bucket manufacturer to one of India’s leading conglomerates.
Tragedy struck in 2005 when Om Prakash Jindal died in a helicopter crash, leaving Savitri to take over the reins of the Jindal Group. She assumed the role of Chairman and steered the company towards continued success and growth. Today, the Jindal Group is the third largest steel producer in India and has interests in various sectors including cement, power and infrastructure.
The O.P. Jindal Group: A Family Legacy
Savitri Jindal’s considerable wealth comes primarily from her family’s O.P. Jindal Group. After her husband’s death, she inherited his stake in the conglomerate. The Jindal Group has several subsidiaries and investments, including stakes in publicly traded companies such as JSW Steel, Jindal Steel & Power, JSW Energy, Jindal Saw, Jindal Stainless, and JSW Holdings.
To ensure a smooth transition and maintain family control, Om Prakash Jindal implemented a unique structure within the group. He divided family ownership among his four sons, with each son holding one-fifth of the family’s stake in each company. He also retained a 20% stake in each company. Savitri Jindal oversees her husband’s stake in the O.P. Jindal Group and is credited with her sons’ shares, solidifying her position as the matriarch of the family and the driving force behind its collective success.
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Fluctuations in Net Worth
Like many billionaires, Savitri Jindal’s net worth has fluctuated significantly over the years. Economic uncertainties and global events have played a role in shaping her fortune. In April 2020, at the onset of the COVID-19 pandemic, her net worth shrank to $3.2 billion. By April 2022, however, her fortune reached an astounding $15.6 billion, thanks to a spike in commodity prices following Russia’s invasion of Ukraine.
These fluctuations highlight the influence of external factors on the fortunes of even the wealthiest individuals. Savitri Jindal’s ability to navigate these challenges and adapt to changing circumstances has allowed her to maintain her status as one of the world’s richest individuals.
Contributions to Politics and Philanthropy
Savitri Jindal’s influence extends beyond business. She has made notable contributions to both politics and philanthropy. As a member of the Indian National Congress, she served as a minister in the Haryana government and as a member of the Haryana Vidhan Sabha from the Hisar constituency. Her involvement in politics demonstrates her commitment to public service and the betterment of society.
In addition to her political endeavors, Savitri Jindal is also a prominent philanthropist. Her contributions to women’s empowerment have received international recognition. She was honored with an international award at the 14th edition of the Pride of the Nation Series Awards and Business Summit for her achievements in this field. Furthermore, she continues a longstanding family tradition of establishing schools and hospitals with each new Jindal factory, demonstrating her commitment to improving access to education and healthcare.
