#1573
Shashi & Ravi Ruia
Overview
- Source of Wealth
- diversified
- Industry
- Diversified
- Residence
- Mumbai
Assets
- Essar Shipping Limited81,000,000 shares @ --533704-IN
Biography
Mumbai brothers Shashi (pictured) and Ravi Ruia's Essar group has interests in shipping, oil refining, infrastructure, and metals and mining.
The sale of their Essar Steel to steel billionaire Lakshmi Mittal's ArcelorMittal and Japan's Nippon Steel was completed in 2019.
The Ruias still own the profitable Stanlow oil refinery in the U.K. through privately held Essar Energy.
Since 2017, the brothers have repaid $20 billion in debt.
In February 2020, the brothers celebrated the 50th anniversary of the group, which was founded in Chennai.
About
The siblings concluded a long-pending deal in August 2017 to sell their Essar Oil assets to Russian oil-producer Rosneft for $13 billion.
The brothers regard 13 as their lucky number.