In India, many students have a dream to be a CA professional because Chartered Accountancy (CA) is one of the most rewarding professional courses i.e. once you invest your 3-5 years in the three-level CA program comprising Foundation, Intermediate, and Final courses with dedication and continuous hard work, you become sure about earning high income or high salary package. Chartered Accountancy has evolved into one of the country’s renowned professions. Adding to the superiority of the profession, below is the list of some Indian CAs who have notably excelled in their careers and made the country proud with their achievements.
This most sought professional course offers a promising career in the job sector and germinates many successful businessmen. There are many Chartered Accountants in India who have become successful entrepreneurs.
The article concerns the net worth and entrepreneurial triumphs of those Chartered Accountants (CA) who turned businessmen and have steered the business landscape, accumulating substantial wealth.
Let us Go Through The List For a Better Perspective:
This study examines the financial successes of the top 10 wealthiest chartered accountants in India as we progress into 2024, showcasing their paths to success in the fields of accounting, business, banking, and finance. Here are the 10 successful chartered accountants in India who are entrepreneurs:
Kumar Mangalam Birla – Chairman of Aditya Birla Group
Net worth (estimated): 1,970 crores USD
The well-known industrialist and the chairman of Aditya Birla Group, Kumar Birla is a certified Chartered Accountant. He is even the wise chancellor of the Birla Institute of Technology and Science and a patron who contributes to the health and education facilities for the weaker sections of society. Apart from his role as a billionaire industrialist, he is engaged in philanthropy, contributing to causes like health and education for the less privileged.
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#2. TN Manoharan -Former President of ICAI and Chairman of Canara Bank
Net Worth(as per reports): 5 Million USD
Another strong personality and a successful Chartered Accountant is TN Manoharan. The former president of the Institute of Chartered Accountants of India (ICAI) has been honoured with the most reputable award Padma Shree in 2010. He is currently working as the Chairman of Canara Bank which is also one of the largest public sector banks. He is the person behind re-organizing the accounting scandal-hit IT company, Satyam Computers.
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#3. Naina Lal Kidwai – Famous CA professional and Former President of the FICCI
Net Worth (estimated) : $ 20.82 Million
A famous CA professional and another achiever of the most prestigious Padma Shree Award, Naina Lal Kidwai was the former president of the Federation of Indian Chambers of Commerce and Industry (FICCI) and also the Group General Manager and Country Head of HSBC India. She is even the first woman to graduate from the prestigious Harvard Business School. Her pioneering journey, which includes becoming the first Indian woman to earn a degree from Harvard Business School, establishes her as a prominent figure among India’s wealthiest chartered accountants. Naina Lal Kidwai serves as the Country Head and Group General Manager for HSBC in India, and she is a banker, chartered accountant, and business executive.
#4. Motilal Oswal- Founder and Managing Director of Motilal Oswal Financial Services
Net Worth (estimated) : Rs. 19,116.0 Cr (in public holdings)
An inspiration for many CA aspirants, Motilal Oswal, Founder and Managing Director of Motilal Oswal Financial Services Ltd., is among India’s richest chartered accountants. He is the proud achiever of awards like ICAI’s “Excellent Business Achiever in Financial Services” award and the “Udyog Rattan Award” for his offerings to financial and industrial sectors. His financial achievement is highlighted by acknowledgement from the Government of India and the Institute of Chartered Accountants of India.
#5. Rakesh Jhunjhunwala – Stock Investors in India and a certified CA professional
Net Worth (estimated) : $5.8 billion
Indian billionaire investor, stock trader, and Chartered Accountant Rakesh Radheyshyam Jhunjhunwala (5 July 1960 – 14 August 2022) was a renowned stock trader, investor, and chartered accountant. Rakesh Jhunjhunwala was said to be the “Indian Warren Buffett,” and has been honoured by the CA profession via his success as a stock trader and investor. With a reputation as an “Investor with a Midas Touch,” he furnishes an example of the significant impact chartered accountants can make in wealth creation.
#6. Deepak Parekh
Net Worth (estimated) : 5.84 Million USD
Deepak Parekh is the Chairman of HDFC Group a leading housing finance company and is among India’s richest chartered accountants. He is known for his business acumen and devotion to corporate social responsibility. Through his advisory roles for companies such as the Indo-US CEO forum Parekh’s global impact is noticeable.
People are often surprised to learn that Parekh has less than 1% ownership in HDFC, despite their assumption that he has a significant stake in the financial business he founded. Remarkably, he has never held a higher stake. This can be attributed to his long-standing service at HDFC, where he progressed from deputy general manager to chairman. The stake he possesses stems from employee stock options, which adds a layer of surprise, particularly in light of the robust entrepreneurial spirit that Parekh has instilled in his business.
Parekh in an interview with Bloomberg cited that he owned nearly 0.4% in HDFC.
#7. Nirmal Jain
Net Worth (reported) : Rs. 6,868.4 Cr in Public Holdings
Nirmal Jain, who established the India Infoline Group and serves as its Chairman, is a billionaire businessman from India and a member of the Institute of Chartered Accountants of India. His journey demonstrates the considerable influence that chartered accountants can exert in the business and finance sectors.
#8. Radhe Shyam Agrawal
Net Worth (reported):: $2.5 billion, according to a Forbes report
Radhe Shyam Agarwal, Co-founder and Executive Chairman of the Emami Group, operates in diverse industries worldwide. With qualifications as a Chartered Accountant and Company Secretary, Agarwal’s diverse skills exemplify the achievements attainable with a chartered accountancy foundation.
#9. V. Mohandas Pai
Net Worth (reported):: 4.04 Million USD as per Reports
Recognized as the “Best CFO in India,” CA Mohandas serves as a source of pride for the CA profession. His varied experience, particularly his previous role as a Director at Infosys, emphasizes the crucial importance of chartered accountants in financial leadership.
#10. Aroon Purie
Net Worth (reported):: Rs. 22.8 Cr. (in publicly held shares)
Aroon Purie, the founding Chairman of India Today Group, runs one of biggest India’s media conglomerates. The journey of this qualified Chartered Accountant shows the distinct achievements feasible within the realm of Chartered Accountancy.
What Makes Them Stand Apart?
Challenges and opportunities are drawn from entrepreneurship, India’s Richest Chartered Accountants’ success is influenced by specific attributes:
- Money Management Expertise: Chartered accountants consider the importance of money in business, which has a major role in their success.
- Diverse Knowledge: apart from numbers many CAs progressed in the field such as taxation laws, auditing, and commercial laws, making them skilled in handling distinct facets of their businesses.
- Analytical Skills: This skill is directed to a substantial strength, allowing them to examine complex business scenarios.
- Fiscal Prudence and Discipline: Stringent articleship infuses the discipline, making a substantial base for success in entrepreneurship.
- Risk Management Expertise: CA infuses the skills to manage financial complexities, and develops the knowledge of risk, directing innovation and growth.
These CA’s success reports show the feasibility of financial expertise and entrepreneurial flair, serving as inspirations for aspiring professionals.
