Top 10 Richest Chartered Accountants in India
Get to know the richest chartered accountants in India, their achievements, and the lessons you can learn from their journey to success and prosperity.
Top 10 Richest Chartered Accountants
India has a high number of rich chartered accountants who have established themselves in the finance and accounting sector. These are not only doing well in their careers but have also accumulated a huge amount of wealth. In this article, we will go through the top 10 richest chartered accountants in India.
Chartered Accountancy (CA) is among India's most coveted and rewarding professions. Most CAs have established prosperous careers in accounting and auditing, business, investments, and entrepreneurship. Some have become very rich, and they are among the richest CAs in India.
Net Worth: ₹3,00,000+ crore (Approx.)
Profession: Chairman of Aditya Birla Group
Kumar Mangalam Birla is one of the richest Chartered Accountants in India, not only being the Chairman of the powerful Aditya Birla Group but also a billionaire businessman and philanthropist. His work goes beyond boardrooms to include public causes such as improving health and educational facilities for the underprivileged.
What tends to surprise most is his educational background, for he is a Chartered Accountant with the elite status and an MBA from the London Business College. This combination of financial acumen and philanthropy serves to highlight his leading role among India's richest chartered accountants.
Net Worth: ₹3000+ crore (Approx.)
Profession: Former Group General Manager & Country Head, HSBC India
Naina Lal Kidwai, an Indian business executive and the first woman Chartered Accountant in India, is the Country Head and Group General Manager at HSBC India. Apart from her impressive career, she created history by being the first Indian woman to graduate from Harvard Business School.
A pioneer and role model to numerous women in India, Kidwai's achievements go as far as receiving the Padma Shri award from the Government of India. Her life, apart from illustrating her business expertise, is a shining example to aspiring professionals and thus a distinguished figure among the Richest Chartered Accountants in India.
Net Worth: ₹50,800+ crore (At the time of death)
Profession: Investor, Stock Market Trader
Mr. Rakesh Jhunjhunwala, widely referred to as the "Indian Warren Buffett," has brought glory to the CA profession. This Indian billionaire, well known as a stock trader and investor, directly manages his portfolio and is a partner in Rare Enterprises, his asset management company.
With a reputation as "An Investor with a Midas Touch," Jhunjhunwala's investment acumen has catapulted him to an estimated net worth of $5.8 billion in December 2021, ranking him at 48 among India's Richest Chartered Accountants. His achievement is proof of the huge value chartered accountants can create in the area of wealth generation.
Net Worth: ₹4000+ crore (Approx.)
Profession: Former Chairman, HDFC Ltd.
Deepak Parekh is one of the richest chartered accountants in India and the Chairman of HDFC Group, a housing finance leader. Apart from his business skills, Parekh is a firm believer in corporate social responsibility, insisting that businesses should return to society the benefits they gain, keeping in mind all stakeholders' well-being, not only shareholders.
Energetically involved in advisory positions for major institutions such as the Indo-US CEO Forum and the City of London Finance Committee, Parekh's knowledge spans across the world. Known for his remarkable contributions, he has been honored with prestigious awards, such as the Padma Bhushan in 2006, establishing himself as a renowned personality in the field of India's richest chartered accountants.
Net Worth: ₹5000+ crore (Approx.)
Profession: Founder, Motilal Oswal Financial Services
Motilal Oswal, a Chartered Accountant turned Entrepreneur and Managing Director of Motilal Oswal Financial Services Ltd., is one of India's richest Chartered Accountants who shines brightly. Having started his business career in 1987, Oswal's financial achievements are highlighted by the fact that he was awarded the "Rashtriya Samman Patra" by the Government of India for being one of the top-income taxpayers for an unprecedented five years.
His contributions to the financial services industry were also honored by the Institute of Chartered Accountants of India, which gave him the "Excellent Business Achiever in Financial Services" honor. This double honor reflects the significant contribution made by Motilal Oswal towards both the economic and professional sides.
Net Worth: ₹20.500+ crore (Approx.)
Profession: Entrepreneur, Stock Market Expert
Radhe Shyam Agarwal, celebrated as being among the nation's most successful entrepreneurs, is the co-founder and executive chairman of the multifaceted Emami Group. The international conglomerate has operations in FMCG, paper, real estate, edible oils, healthcare, and cement. In addition to his entrepreneurial achievement, Agarwal is a chartered accountant and company secretary.
His educational background involves graduation from Kolkata's St. Xavier's College, in addition to pursuing LLB and M.Com. from Calcutta University. Agarwal's diverse skill set is the perfect example of how a chartered accounting background can lead to success across many industries, placing him on the list of the richest chartered accountants in India.
Net Worth: ₹1000+ crore (Approx.)
Profession: Former Chairman, Canara Bank & ICAI President
T.N. Manoharan, a renowned chartered accountant, has a powerful personality. Not only has he been the past president of the Institute of Chartered Accountants of India, but he was also an ex-chairman of Canara Bank, India's fourth-largest public sector bank.
Manoharan's notable achievements also include his involvement in the restructuring of scandal-ridden Satyam Computer Services, where he was selected as one of the six members on behalf of the Government of India. His outstanding contributions were recognized with the coveted Padma Shree award in 2010, establishing his position among the Richest Chartered Accountants in India.
Net Worth: ₹1,000+ crore (Approx.)
Profession: Union Minister of Commerce & Industry, Former CA & Investment Banker
Piyush Goyal, a chartered accountant by profession, shifted from finance to politics and is now India's Union Minister of Commerce & Industry. Bofer to politics, he was an investment banker and financial consultant, earning him a lot of money.
His profound financial knowledge has benefited him in policymaking and governance economically, making him among the richest CAs in India.
Net Worth: 6,868+ (Approx.)
Profession: Founder and Chairman of India Infoline Group
Indian billionaire business magnate Nirmal Jain is also a proud founder and chairperson of financial giant India Infoline Group (IIFL—India Infoline Finance Ltd). Many might be surprised to discover that he's an Institute of Chartered Accountants of India fellow member, proving his money background. Jain, who also did his post-graduation from IIM, Ahmedabad, started his career in 1989 with Hindustan Unilever Limited.
Later, in 1995, he started the IIFL Group, initially as an independent equity research firm in India. In the last 25 years, Jain has been instrumental in driving the group's growth, with a keen emphasis on financial services. His success is a testimony to the difference that chartered accountants can make in the business and finance sectors, and he is thus one of the richest chartered accountants in India.
Net Worth: 22.8+ crore (Approx.)
Profession: Founder and Chairman of India Today Group
Aroon Purie, India Today Group's founding chairman and former editor-in-chief, heads one of India's largest media conglomerates. Apart from his dynamic contribution to the media world, Purie is a Chartered Accountant by qualification. He is Managing Director of Thomson Press Limited and also holds the designation of Chairman and Managing Director at TV Today.
To appreciate his considerable contribution, he has been conferred with the noble Padma Bhushan Award. Aroon Purie's career showcases the varied success achievable in the field of chartered accounting, making him a prominent individual among the Richest Chartered Accountants in India.
Summary
Chartered accountants in India have also shown that their accounting skills can become keys to unparalleled success and fortune. In business, stock markets, banking, or politics, these chartered accountants have used their CA background to establish multi-crore empires.
From industrialists such as Kumar Mangalam Birla to investment geniuses such as Rakesh Jhunjhunwala, all these CAs have proven the strength of money wisdom and clever decision-making. Their paths serve as inspirations to millions of aspiring chartered accountants across the nation.
Important Points of Richest Chartered Accountants of India
Though the path of entrepreneurship is full of challenges and opportunities, for the richest chartered accountants in India, business success is determined by certain traits:
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Money Management Skill: CAs, with their finance skills, understand the vital function of money in business. Their experience in managing complex financial situations and their skill in taking advantage of opportunities help them succeed.
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Diverse Expertise: Aside from figures, most CAs are skilled in taxation laws, auditing, and commercial laws. Such wide-ranging knowledge makes them well-capable in handling many aspects of their businesses.
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Analytical Skills: Analytical skills, developed in the process of working, become a key strength for the richest chartered accountants. This skill allows them to interpret intricate business situations and make sound decisions.
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Fiscal Discipline and Prudence: Strict articleship develops discipline in most CAs, which is a strong foundation for entrepreneurship success. Fiscal prudence, backed by unshakeable discipline, goes a long way in their success.
- Risk Management Expertise: CAs, being used to dealing with financial intricacies, acquire a strong sense of risk. This ability proves invaluable in entrepreneurship, where informed risks are part of innovative and growth strategies for ensuring the longevity of their businesses.
FAQs
Who is the richest CA in India?
While other Indian Chartered Accountants (CAs) have achieved great success, Kumar Mangalam Birla, the chairman of the Aditya Birla Group, is usually considered the richest CA in India.
Who is India no. 1 Chartered Accountant?
While no one person has a widely recognized "number one" position among chartered accountants in India, the best-known such leader is generally believed to be Kumar Mangalam Birla, Chairman of Aditya Birla Group.
Who is highly paid CA in India?
Nirmal Jain, founder of India Infoline (IIFL), is reportedly the highest-paid chartered accountant in India, with a net worth of over ₹6,000 crores. His success in building IIFL into a leading financial services company has earned him a lucrative income and reputation.
Can a CA earn 50 lakhs per month?
Yes, a chartered accountant (CA) may earn ₹50 lakhs per month, provided that they are an expert in much-needed fields such as taxation, auditing, or financial consultancy. CAs who are senior in top companies or those with successful business ventures may attain such a high income.
Who is the youngest CA in India?
Nandini Agrawal, a 19-year-old from Morena, Madhya Pradesh, is hailed as India's youngest Chartered Accountant (CA) who achieved the 1st rank in CA Finals when she was 19 years old.
Can CA be a millionaire?
Yes, for best-performing chartered accountants, the remuneration potential is huge. With an international posting, a person can receive about INR 36 lakhs, and for a national posting, it can be approximately INR 22.50 lakhs. In general, a CA can easily earn 40 to 50 lakhs per year.
What is the salary of CEO per month?
Depending on the city and organization, a CEO's monthly compensation in India might range from ₹53,351 to ₹68,633.
Who earns more, an MBA or a CA?
Although both MBAs and CAs can result in well-paying jobs, CAs tend to have a slight edge in mean salaries over MBAs, particularly in the early years, with an average starting salary of Rs. 8.05 LPA as opposed to Rs. 7.64 LPA for MBAs in Finance.
Which stream is best for CA?
For those who aspire to become Chartered Accountants (CAs), the commerce stream is usually the most appropriate, as it lays a solid base in subjects such as accounting, business studies, and economics, which form the core of the CA syllabus.
What is the salary of Air 1 CA?
Though there is no specific salary for a CA with AIR 1, a fresher CA, particularly a rank holder, can look forward to a starting salary of ₹15-20 lakhs per annum, which can go up to ₹30+ lakhs or even more based on the company and job role.
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