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02 September 2008
Sameer Gehlaut - Fobs - The World's Indian Billionaires
#962 Sameer Gehlaut
Fortune: self made
Net Worth: $1.2 bil
Country Of Citizenship: India
Residence: Bombay , India.
Industry: Finance Marital Status: married, 2 children
Education: Indian Institute of Technology, Bachelor of Arts / Science
India's youngest self-made billionaire. An engineer from India's elite Indian Institute of Technology, Delhi, started online brokerage Indiabulls with two college pals in 1999; still heads the company and is its largest shareholder. Early investors included steel tycoon Lakshmi Mittal and hedge fund Farallon Capital. Listed Indiabulls in 2004. Group moved into real estate. Scooped up prized land in Mumbai in public auctions that is being developed into commercial offices and malls. Spun off and listed real estate arm, Indiabulls Real Estate, in 2007. Plans to raise another $1.2 billion in Singapore for a separate property investment trust. Inked joint venture for life insurance with Societe Generale. Expanding into power. Plans include setting up India's fourth commodities exchange that will compete with fellow billionaire Jignesh Shah's MCX.