Age, Biography and Wiki
| Birth Day | March 15, 1959 |
| Birth Place | Mumbai, India, India |
| Age | 64 YEARS OLD |
| Birth Sign | Aries |
| Residence | Mumbai, Maharashtra State, India |
| Alma mater | Sydenham College of Commerce and Economics Jamnalal Bajaj Institute of Management Studies |
| Occupation | Founder and chairman of Kotak Mahindra Bank |
| Spouse(s) | Pallavi Kotak |
| Children | 2 |
Net worth: $12.9 Billion (2024)
Uday Kotak, a prominent figure in the Indian finance industry, is widely recognized for his significant net worth which is estimated to reach an impressive $12.9 billion in 2024. Renowned for his expertise and contributions to the financial sector, Kotak's success is a result of his astute business acumen and entrepreneurial spirit. As the Executive Vice Chairman and Managing Director of Kotak Mahindra Bank, he has played a pivotal role in transforming the institution into one of India's leading banks. With his remarkable achievements and wealth, Uday Kotak continues to have a profound impact on India's financial landscape.
Famous Quotes:
Things change so fast, you can't afford to be complacent.
Biography/Timeline
His talent in mathematics influenced his choice of career. He earned a bachelor's degree from Sydenham College and completed a postgraduate degree in management studies in 1982 from Jamnalal Bajaj Institute of Management Studies.
In early 1980s, while India was still a closed economy and economic growth was muted, Kotak decided to start out on his own, refusing a lucrative job option from a multinational. Over the next few years, he Diversified his Business into various areas of financial services, establishing a prominent presence in bills discounting, stockbroking, investment banking, car Finance, life insurance and mutual funds. On 22 March 2003, Kotak Mahindra Finance Ltd. became the first company in India’s corporate history to receive a banking license from Reserve Bank of India.
During 2014, Kotak almost doubled his wealth as shares of his Kotak Mahindra Bank hit an all-time high after he sealed a $2.4 billion deal in November 2014 for rival ING Vysya Bank, partly owned by Dutch financial services group ING.
In 2015, Kotak enters the general insurance Business and is partnering Telecom magnate Sunil Mittal's Bharti Airtel to start a small payments bank.
Kotak has reduced his stake in the Kotak Mahindra Bank to 40% as he is required to bring down his holding to 30% by 2016.
Forbes estimated his wealth to be $10.6 billion in 2018. In 2006 he ended a 14 year partnership with Goldman Sachs by acquiring its 25% stake in two subsidiaries for $72 million.
