Former Teetotaller Emerges as India’s Latest Billionaire: Lalit Khaitan

India’s latest billionaire is Dr. Lalit Khaitan, a liquor magnate who, at 80 years old, has joined the ranks of the country’s elite. He achieved this feat by leveraging India’s rapid growth in the liquor market. Serving as the chairman of Radico Khaitan, a Delhi-based enterprise with a substantial $380 million in revenue, Dr. Khaitan has played a crucial role in shaping the industry landscape. Radico Khaitan is renowned for its iconic beverages, such as Magic Moments vodka, 8 PM whisky, Old Admiral brandy, and the prestigious Rampur single malt, crafted in the tranquil foothills of the Himalayas.

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Here are some facts about the newest billionaire Lalit Khaitan:

1) Shares of Dr Lalit Khaitan’s publicly traded company soared by more than 50% this year, reported Forbes. Taking into account his substantial 40% stake in the company, his estimated net worth has now reached an impressive $1 billion.

2) Dr Khaitan studied at Mayo College, Ajmer, and St. Xavier’s College, Kolkata. He has a Bachelor’s degree in Engineering from BMS College of Engineering, Bangalore, and has completed a Managerial Finance and Accounting course at Harvard, USA.

3) In 1972, Dr Khaitan’s father, GN Khaitan, took over what was formerly Rampur Distillery & Chemical Company Ltd, transforming the struggling company, which evolved into Radico Khaitan.

4) The liquor baron hails from a traditional Marwari family and was a teetotaler until his father acquired the Rampur distillery business.

5) He has received numerous professional accolades, with the most recent being the ‘Lifetime Achievement Award’ presented by the UPDA in December 2017. Dr Khaitan is also actively involved in developmental projects.

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