Popular Indian billionaire, Nusli Wadia is the Chairman of the incredibly successful multinational conglomerate, Wadia Group. It was founded by Lovji Nusserwanjee Wadia and is one of the oldest companies in the country. The Wadia Group consists of several renowned companies that are listed on the Indian stock exchange.
However, some of their most famous companies are the likes of Bombay Burmah Trading Corporation Limited, Bombay Dyeing and Britannia Industries. From cookie-making to the aviation business, Nusli Wadia has taken the Wadia Group to even greater heights since he was appointed as the joint managing director back in 1970.
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Apart from being one of the richest billionaires in the world, Nusli Wadia is also known for his famous fights against the iconic business tycoons, the late Dhirubhai Ambani and Ratan Tata. However, before we talk about Nusli Wadia’s controversial fights with Ambani and Tata, let’s take a quick tour of his personal life!
Billionaire businessman, Nusli Wadia was born to Neville Wadia and Dina Wadia, on February 15, 1944, in Bombay (now Mumbai). However, not everyone is aware of the fact that the founder of Pakistan, the late Muhammad Ali Jinnah is his maternal grandfather. Talking about Nusli’s paternal grandfather, Sir Ness Wadia was an extremely successful and renowned textile industrialist, who had played an important role in turning Bombay into the world’s largest cotton trading centre.
The Indian businessman, Nusli Wadia is happily married to a former air hostess, Maureen Wadia. Currently, Maureen is one of the organisers of the Miss India beauty pageant. The much-in-love couple is blessed with two sons, Ness Wadia and Jehangir Wadia.
One of the biggest business families in India, Wadia and Ambani have been ruling the business industry for some decades now. Although Ambani is ruling the business industry at the moment, there was a time when the Wadias were way ahead of them. For the unversed, the Wadia Group’s company, Bombay Dyeing was the leading name in the textile industry a few decades back and was eyeing to dominate the polyester industry, which kickstarted their war against the Ambanis.
At that time, the Ambanis were the ones, who were Wadia’s only competition in the polyester industry. However, when the two business giants locked horns with each other, it brought a revolution in the textile industry. While it started quite well for the Wadia, it was Ambani, in the end, who took over the polyester industry, courtesy of the former’s bad business decisions.
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If the reports are to be believed, Wadia produced dimethyl terephthalate, whereas Ambani concentrated on purified terephthalic acid. The decision made by the Ambanis was a game-changer for them as they turned out to be a more efficient intermediate when it came to the manufacturing of polyester.
Wadia has always been one of the biggest competitors of Ambani when the latter was trying to dominate the corporate industry. For many years, Wadia and Ambani have locked horns with each other time and again. However, they never accepted their constant rivalry in their respective interviews. Once in a conversation with the media, when Nusli Wadia was asked about the same, he dodged the question saying that there’s no rivalry between them. However, the market and business analysts have offered a completely different story.
Being one of the oldest business families in India, Wadia is the only business family in India, that has a history of locking horns with industry giant, Tata Group. If you thought Nusli Wadia’s clash with Ambani was the only highlight of his career, it wasn’t, as he also had some major differences with J.R.D. Tata. For the unversed, Nusli Wadia’s father, Neville Wadia had once thought about selling the Bombay Dyeing and settling in the United Kingdom.
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However, the idea was heavily opposed by a young Nusli Wadia and with the help of J.R.D. Tata, the doting son, managed to take over Bombay Dyeing from his father. The billionaire businessman had always talked highly of J.R.D Tata in most of his interviews. However, things hit rock bottom when Nusli had decided to sue Ratan Tata during the infamous Mistry-Tata conflict. In the conflict, Wadia supported Mistry instead of Tata, and it kickstarted a never-ending rivalry between them.
The bond between Wadia and Tata got sour to the level that the former filed a defamation case against the latter in 2016. The legal fight between the two business giants shocked the entire nation and created a stir in the media. However, after some years of battle in the court, Wadia withdrew its criminal defamation suit against Ratan Tata and Tata Group.
The billionaire businessman, Nusli Wadia’s net worth is around Rs. 60,000 crores, and it keeps rising, as he is still one of the biggest names in the Indian corporate.
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