Last updated on June 24th, 2022 at 07:04 am
In this article, We are going to deep dive into Harshad Mehta Net Worth, Harshad Mehta assets, and Harshad Mehta Properties. Harshad Mehta was an Indian Stock Broker. He was a millionaire and with his intelligence, he had earned a lot more money than an average stockbroker. Harshad Mehta was born in Rajkot in the year 1954 on 29th July and died in the year 2001 on 31st December. His net worth was $475 million which is calculated to be around 3542 crores of rupees INR. In the stock market, he was called The Big Bull, and also people used to call him The Amitabh Bachchan of the Stock Market. Here, in this article, we will about the detailed net worth of Harshad Mehta, his income, his salary, his assets, and many more things about him.
Harshad Mehta Net Worth:
Harshad Mehta took advantage of the loopholes in the market and earned a huge amount of money in the year 1992. His total net worth was $475 million which is equal to 3542 crores of rupees INR. His monthly income was more than 1.5 million rupees. In a year, Harshad Mehta use to make more than 18 million rupees. At that time, he was the highest taxpayer in our country. Harshad and his brother Ashwin Mehta use to do business together, however, after the death of Harshad Mehta he handled business alone. He alone cleared all the debts and the NPAs on his brother’s name after his death. As per the sources, he paid around 1700 crores of rupees. He did a big scam on the securities in the year 1992 and earned a huge amount with the scam.
Harshad Mehta’s cars:
Harshad Mehta was very rich and he had many expensive cars. His car collection is huge and very expensive. His collection consists of the cars such as Lexus Starlet, Toyota Corolla, BMW, Toyota Sera, Mercedes, Range Rover and many other expensive cars.
Harshad Mehta’s Property:
The financial fraud that Harshad Mehta did in the year 1992, was calculated to be $1.4 billion. However, it is believed that he did not do fraud but took advantage of the loopholes present in the law at that time. He had his office Growmore Research and Asset Management in Nariman Point. It covers a whole floor and is very expensive. Nariman Point is one of the most expensive places where he owned his office. Harshad Mehta use to live in Worli in a Sea Facing Area. The area, where his house is situated is one of the most expensive places. The worth of his house is in Crores. Harshad Mehta also owns many other expensive real estate properties around the country.
What did Harshad Mehta do?
Harshad Mehta took advantage of certain loopholes that were present in our law in the year 1992. He did a systematic financial fraud in the stock market from which he earned a tremendous amount of $1.4 billion. He created a huge diversion of amounts from the banking industry of our country to the stock market of our country. He did a fraud of billions to buy stocks from the Bombay Stock Exchange from the banking industry.
The banking industry in that year had to get through the loss of more than 4000 crores of rupees INR. The stock market crashed very badly and had to go through a huge loss. Many investors also had to through big losses at that time due to this scam. It is believed that this was the biggest scam ever happened in the history of our country. Harshad Mehta use to take such loans from banks now and then and he use to manage to return those loans easily and even he use to earn a lot more than the other investors. But in the year 1992, he failed to return his loans taken from the banks, and the biggest collapse ever happened in the market.
About Harshad Mehta:
Harshad Mehta was born in the year 1954 on 29th July. He was born in Rajkot and spend some years of his in Mumbai and then he moved to Raipur. He completed his basic studies at Janta Public School and then he moved to Mumbai for his further studies. He completed his graduation degree from Lala Lajpat Rai College. Then after graduation, he did different kinds of jobs. He did diamond sorting, he did a job selling cement, he worked as an accountant, and did many other various kinds of jobs.
Then he got exposure to the stock market and he developed an interest in it more than any other job. He first worked as a jobber in the stock market. He learned how the stock market works and then soon in the late 80s he started his own company called Growmore. It was a research and asset management company. He started doing good and their company use to get many big investors. He started earning more and more from the stock market and very soon he became the highest taxpayer in our country. He use to trade in shares of various popular companies.
Harshad Mehta’s Wiki:
|Date of Birth
|29th July 1954|
|Date of Death
|31st December 2001|
|Shantilal Mehta and Rasilaben Mehta|
|Sudhir Mehta, Hitesh Mehta and Ashwin Mehta|
Harshad Mehta’s Wealth Dependency:
Harshad Mehta has to not depend on anyone for his income. He was very brainy and used to invest in Stock Market very passionately and get huge returns. In the 90s he was the highest taxpayer in our country. Harshad Mehta net worth used to grow a lot over the last years due to his accurate investments in the stock market.
Facts about Harshad Mehta:
- Harshad Mehta was from a Gujarati Jain Family.
- He was a stockbroker who did the biggest scam in the stock market in the history of our country in the year 1992.
- His father was a businessman in textile and Harshad spent some years of his childhood in Mumbai and then went to Raipur and then again came to Mumbai to complete his further education.
- He did jobs for eight years in different sectors after completing his graduate degree from Lala Lajpat Rai College in commerce.
- In the year 1984, he became a member of the Bombay Stock Exchange as a jobber and soon he learned more about stocks and established his own company called Growmore Research and Asset management company.
- Harshad Mehta had invested in several popular companies such as Apollo Tyres, Reliance, Videocon, BPL, and many other popular companies.
- His business was so successful and he was so talented and smart that people started to know him by the name The Big Bull also some people use to call him The Amitabh Bachchan of the Stock Market.
- However, in the year 1992 Journalist Sucheta Dalal dig into the case of Harshad Mehta and investigated various sources, and after a lot of effort and hard work she bought a notice to people the biggest scam ever happened in the history of India that Harshad Mehta did.
Frequently Asked Questions about Harshad Mehta and his Net Worth:
What was the total net worth of Harshad Mehta?
Harshad Mehta Net worth was calculated to be $475 million which is equal to 3542 crores of rupees INR.
How much does Harshad Mehta use to make in a year?
In a year, Harshad Mehta use to make an income of more than 18 million rupees INR.
How much does Harshad Mehta use to make in a month?
In a month, Harshad Mehta used to make an income of more than 1.5 million rupees INR.
What does Harshad Mehta use to do?
Harshad Mehta was an Indian Stockbroker.
When did Harshad Mehta die?
Harshad Mehta died in the year 2001 on 31st December due to some heart complications.
Was Harshad Mehta married?
Yes, Harshad Mehta was married to Jyoti Mehta. The couple has a son named, Atur Mehta.
What nationality was Harshad Mehta of?
Harshad Mehta was of an Indian Nationality.
What qualification did Harshad Mehta have?
Harshad Mehta was a Bcom graduate.
Who were the parents of Harshad Mehta?
Harshad Mehta’s parents were Shantilal Mehta and Rasilaben Mehta.
What was the birthplace of Harshad Mehta?
Harshad Mehta was born in the Panel Moti, Rajkot, Gujarat.
Harshad Mehta was one of the stockbrokers of the stock market who was very rich and also he was the highest taxpayer in our country. Harshad Mehta net worth was estimated to be around $475 million which is equal to 3542 crores of rupees INR. In a month it was estimated that Harshad Mehta use to make more than 1.5 million rupees INR. In a year, it was estimated that he use to make more than 18 million rupees INR.