Cyrus Poonawalla, the ninth richest billionaire in India and Pune’s wealthiest resident, is the owner of the Serum Institute of India, one of the country’s largest private pharmaceutical companies, as reported by Forbes India.
Dr. Cyrus Poonawalla began his journey as the son of a horse breeder and is now one of India’s wealthiest individuals. He founded the Serum Institute of India in 1966, which gained prominence during the COVID-19 pandemic as a key vaccine producer.
The institute is responsible for producing 1.5 billion doses of vaccines annually for diseases such as polio, flu, and measles, according to GQ India. In recognition of his significant contributions to vaccine development and distribution, he was awarded the Padma Bhushan, one of India’s highest civilian honors, in 2022.
The Serum Institute is recognized as the world’s largest vaccine manufacturer, producing more vaccines than any other company globally. Currently, the company is managed by Cyrus’s son, Adar Poonawalla, who has broadened the family’s business interests into various sectors.
As per the 2024 Hurun India Rich List, Cyrus Poonawalla has amassed a net worth of Rs. 2,89,900 crore as the chairman and managing director of the Cyrus Poonawalla Group, with the Serum Institute valued at Rs. 2,04,300 crore.
In addition to the Serum Institute, Poonawalla has significant investments in Poonawalla Fincorp, a non-banking financial firm focused on consumer and MSME financing, as well as The Ritz-Carlton hotel in Pune. Following in his father Soli Poonawalla’s footsteps, he also owns a large farm dedicated to breeding award-winning horses.
Among his valuable assets is a luxurious seaside mansion located in Mumbai’s Breach Candy area, purchased in 2015 from the U.S. government for Rs. 750 crore, making it one of India’s most expensive real estate transactions.
Recently, his son Adar Poonawalla ventured into the film industry by acquiring a 50 percent stake in filmmaker Karan Johar’s Dharma Productions for Rs. 1,000 crore.
