Shahid Balwa

Shahid Balwa Net Worth

1 week ago

Shahid Balwa is an Indian businessman who was born in India and dropped out of college. He migrated to Mumbai with his family from Gujarat to start a restaurant business. He eventually moved into hotels and partnered with Vinod Goenka in DB Realty and DB Etisalat. Their real estate firm has 60 million square feet under development, including the Turf Estate and the 108-storey Park Hyatt Hotel in South Mumbai. Balwa is a fitness fanatic and works out every day. He and Goenka are rumored to be politically well-connected.

Age, Biography and Wiki

Birth Place India
Residence Mumbai
Occupation Promoter, DB Group & Managing Director, DB Group
Website www.dbrealty.co.in

💰 Net worth: $1 Billion (2024)

Shahid Balwa, an Indian businessman, is expected to reach a net worth of $1 billion by 2024. Born in India, Balwa's journey began in a rather unconventional way as he decided to drop out of college. However, this decision did not hinder his entrepreneurial spirit and determination to succeed. Balwa ventured into various business ventures, particularly in the telecommunications sector, where he made significant strides. With his exceptional business acumen, Balwa managed to build an empire and amassed considerable wealth, firmly establishing himself as one of India's prominent businessmen.

Biography/Timeline

2006

Balwa dropped out of college and entered the family's hotel Business. His Father, Usman, started Balwa's restaurant at Marines Lines and Balwa's Hotel at Mumbai Central. He partnered with Billionaire real estate developer Vinod Goenka to form DB Realty in 2006. In a few years, the construction company claimed to have 21,000,000 square feet (2,000,000 m) of saleable area in ongoing projects and another 40,000,000 square feet (3,700,000 m) in upcoming projects.

2010

In 2010, Balwa was the youngest Indian to feature on the Forbes List and is amongst the 10 youngest billionaires in the world. He was ranked by Forbes as India's 50th richest man in 2010.

2011

Balwa was arrested for his role in the 2G spectrum case by the CBI on 9 February 2011 on the allegation that DB group transferred ₹2 billion to a media company owned by members of DMK party. Former Telecom minister A. Raja allegedly helped Swan bag licences for 13 circles, including Mumbai and Delhi, for ₹15.37 billion. DB realty is one among the companies that purchased 2G licenses in 2008. DB Reality floated Swan Telecom. The CBI also arrested two executives on 29 March 2011 including the brother of Balwa, Asif Balwa. A Delhi high-court on 29 November 2011 accepted the bail plea of Shahid Balwa and other under-trials. On the 21st of December, 2017, a Supreme Court appointed Special CBI Court acquitted him of all charges relating to his role in this case.

Some Shahid Balwa images

Tags Living people 1974 births Indian Muslims Indian billionaires Indian philanthropists Indian real estate businesspeople Businesspeople from Mumbai Indian prisoners and detainees Gujarati people Businesspeople from Gujarat 2G spectrum case DB Group

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Lisa Scholfield

As a Senior Writer at Famous Net Worth, I spearhead an exceptional team dedicated to uncovering and sharing the stories of pioneering individuals. My passion for unearthing untold narratives drives me to delve deep into the essence of each subject, bringing forth a unique blend of factual accuracy and narrative allure. In orchestrating the editorial workflow, I am deeply involved in every step—from initial research to the final touches of publishing, ensuring each biography not only informs but also engages and inspires our readership.