Shiv Nadar, an Indian IT billionaire and founder of HCL Technologies, is one of the richest people in his country and the entire continent of Asia today. He cofounded his multi-billion-dollar business in a garage back in 1976 with the simple mission to make microprocessors and calculators.
In 2024, Shiv Nadar’s net worth exceeds $36 billion, most of which comes from his stake and salaries at HCL, one of India’s largest software service providers.
Today, Nadar holds the third place as one of India’s richest people, right after Mukesh Ambani and Gautam Adani. To learn how he built his incredible wealth from scratch, keep reading.
How Much is Shiv Nadar Worth in 2024?
- Net Worth: Estimated at over $36 billion, primarily from his stake in HCL Technologies.
- HCL Technologies: Founded in 1976, now a global leader in IT services, bringing in over $12.6 billion in annual revenue.
- Philanthropy: The Shiv Nadar Foundation focuses on transforming education in India, contributing millions of dollars to education and social causes.
- Early Life: Raised in a small village in Tamil Nadu, he later attended PSG College of Technology, where he earned a degree in Electrical and Electronics Engineering.
- Legacy: Through his business and philanthropic ventures, Nadar has left an indelible mark on India’s technology and education sectors.
Shiv Nadar’s Net Worth Breakdown:
Despite being one of the three richest people in India, Nadar is a very private person, so there is scarce public information regarding his assets or investments outside of his business, HCL Technologies.
Based on what we found, here is what contributes to his exceptional net worth.
| Asset or Income Source | Contribution to Net Worth |
| Investment in Microcorp (later HCL) | Rs 187,000 (~$2,250) |
| Stake in HCL Technologies | 60.77% of $54.3 billion market cap |
| HCL Technologies revenue | $12.6 billion |
| Shiv Nadar Foundation stake in HCL | 0.79% |
| Car collection | ~$1 million |
| Real estate investments | $13.8+ million |
| Total Net Worth | $36 billion |
5 Fun Facts About Shiv Nadar
- Garage Start: Nadar, along with his colleagues, started HCL from a garage in 1976. Their initial product was a calculator, marking the beginning of one of India’s biggest tech companies.
- Philanthropic Passion: The Shiv Nadar Foundation has impacted over 30,000 students in India and continues to grow, with a strong focus on transforming educational opportunities for underprivileged communities.
- HCL’s Innovation: HCL introduced India’s first personal computer in 1978, ahead of global tech giants like IBM and Apple, demonstrating Nadar’s innovative foresight.
- Family Leadership: His daughter, Roshni Nadar Malhotra, now serves as the chairperson of HCL Technologies, making her one of the most powerful women in the tech world.
- Art Collector: Nadar’s wife, Kiran Nadar, is a prominent art collector and philanthropist, and she has established the Kiran Nadar Museum of Art, one of the largest private art museums in India.
Latest Updates & News
Shiv Nadar has stepped down from active management but remains influential in both the tech industry and philanthropy through his Shiv Nadar Foundation.
His company continues to expand, and his daughter, Roshni Nadar Malhotra, now leads HCL.
The company remains one of the largest IT firms globally, and Nadar is often celebrated for his contributions to both technology and education.
His philanthropic efforts continue to focus on transforming education in India
The Early Life of a Tech Monolith
Shiv Nadar was born on July 14, 1945, in the village of Moolaipozhi, in the Thoothukudi district of Tamil Nadu. His parents, part of a Tamil Hindu family, were Sivasubramaniya Nadar and Vamasundari Devi. Vamasundari Devi, his mother, is the sister of the founder of Dina Thanthi, a well-known Indian newspaper. His father, Sivasubramaniya Nadar, operated a small textiles trading business in Chennai.
Young Shiv received his early education at several schools:
- Town Higher Secondary School in Kumbakonam
- Elango Corporation Higher Secondary School in Madurai
- St. Joseph Boys Higher Secondary School in Trichy (where he completed his education)
Following his high school graduation, Nadar enrolled in the American College in Madurai, where he earned his pre-university degree. He then obtained his university degree in Electrical and Electronics Engineering from PSG College of Technology, based in Coimbatore.
Shiv Nadar then went on to complete his Master’s program in Business Administration (MBA) from the Indian Institute of Technology in Delhi, after which he embarked on his work journey, starting at a DCM company in Delhi.
Today, Shiv Nadar is married to Kiran Nadar, an art collector and philanthropist. His daughter, Roshni Nadar Malhotra, holds the position of chairwoman at HCL Technologies.
Shiv Nadar Net Worth: The Indian Billionaire’s Path to Success and Major Achievements
It didn’t take long for Nadar to build his fortune, though he did dip into the work pool before founding his billion-dollar business. Let’s see how he became a billionaire from scratch.
Early Career
When he completed his education, Shiv Nadar got a job at Walchand Group’s Cooper Engineering Ltd. in 1967. He then left the position to work at the Delhi Cloth Mills’ digital product division but didn’t remain for long in both these roles.
In 1975, Shiv Nadar teamed up with other partners, including some of his friends and colleagues, to start his first business. The partners were Ajai Chowdhry, the ex-chairman of HCL, as well as Arjun Malhotra, Subhash Arora, S. Raman, Yogesh Vaidya, Mahendra Pratap, and DS Puri.
Together, the group founded Microcomp, a company that sold teledigital calculators on the Indian market. Their products included Televista and other office supplies. The company was reportedly founded with Rs. 187,000, which equals around $2,250 today.
The group originally wanted to start a computer manufacturing business. At the time, India had only 250 computers in total, so this was an untapped market and a great opportunity. But there was a reason why there were so few computers in India. They were extraordinarily expensive, so they opted for digital calculators.
Nadar was the largest shareholder in the group. At about that time, IBM announced that they’d be leaving the country, which Nadar saw as a major opening.
The Uttar Pradesh government was very supportive of businesses in the IT industry, so Shiv Nadar came up with the idea to ask for funding from the government. He eventually presented his business idea to the publicly traded UP Electronic Corporation, after which Microcomp gave the government 26% interest in the business in return for 20 lakhs (1oo,000 Rupees) or around $35,000 in capital – to invest in what they originally planned.
Establishing HCL Technologies
When the government took a stake in the company, this led to the business becoming the first Public-Private Partnership or PPP.
The government advised the company to change the original name to “Uttar Pradesh Computers Limited”. However, Shiv Nadar decided to give it a different name, “Hindustan Computers Limited” or HCL, since this was an already popular name across the country. For context, Hindustan is the Persian name for the Indian subcontinent. The government liked the new name well enough and approved the change.
The Growth of HCL
In 1978, HCL introduced the country’s first personal computer and called it HCL 8C or the HCL Workhorse, which they constructed in Nadar’s garage. Keep in mind that this happened before IBM or Apple’s first PCs!
Soon enough, Shiv Nadar was able to expand HCL’s services to Singapore, and in 1979, the company was worth Rs 3 crore (10 million Rupees, worth around $360,000) and acquired sales of Rs 10 lakh (around $12,000) in its first year.
HCL expanded into the market by opening Far East Computers in Singapore by 1980.
At the time, Shiv Nadar was the largest shareholder of HCL, but he didn’t hold any management position. It wasn’t long before he obtained the position of managing director and chairman emeritus of the business, two positions that he no longer holds.
In 1984, the Indian government revised its policy regarding the importation of computers and technology, opening major opportunities that Nadar instantly pounced on. The founders of the business traveled around the world to bring back PCs to disassemble and research to build their own. Not long after, the first multi-processor version of Unix, the so-called HCL Busybee, was introduced in 1985.
In 1989, the company entered the US market with computer hardware, but this foray was a big failure.
The next step was to partner with Hewlett-Packard to form HCL HP Limited. In only three years, HCL established alliances with major brands like Ericsson and Nokia, which helped grow the business significantly.
The following decade was rather challenging since HCL’s revenue started to decline, especially when Arjun Malhotra, one of the co-founders of HCL, decided to quit the business and found his own company in California. Nadar then decided to launch an IPO in 1999, which was a major success during the dot-com bubble.
During Nadar’s leadership, the company diversified into many other industries including automotive, finance, chemicals, capital markets, aerospace and defense, consumer goods, life sciences, insurance, media and entertainment, oil and gas, telecom, travel, manufacturing, hospitality, and retail.
Nadar led HCL Technologies for over four decades before he handed over the reins to his daughter, the first female chair of a listed Indian IT company. In July 2020, Nadar handed over the title of chairman emeritus to Roshni Nadar Malhotra, and in 2021, he passed the baton as the managing director of HCL Technologies to C Vijayakumar.
The company is now one of the largest IT companies in the world, bringing in $12.6 billion in revenue. The company employs over 225,000 people in 60 countries worldwide. Nadar reportedly has a 60.77% stake in the business.
Philanthropy and Impact on Education
Shiv Nadar is well known for the incredible positive influence that he has made through his philanthropy.
In 1994, Nadar founded the Shiv Nadar Foundation, which is committed to the creation of a merit-based, equitable society by empowering people through education.
Two years later, Nadar founded the SSN College of Engineering in Chennai in the name of his father. He also gifted the college with HCL shares worth Rs. 10 lakh (around $12,000 today), and in 2006, he announced that the college would promote high-end research.
In 2005, Nadar joined the executive board of the Indian School of Business. Three years later, his SSN Trust announced that Nadar would be setting up two Vidyagyan schools for rural students in Uttar Pradesh, and offer 200 free scholarships for students from 50 districts of the state.
Fast forward to 2011, and Nadar donated computers and equipment worth Rs. 80 lakh (around $96,000 today) to the Town Higher Secondary School.
Up until recently, Nadar was the chairman of the board of governors at the Technical Institute ‘Indian Institute of Technology Kharagpur’.
Nadar is also known as a major philanthropist. He now carries the tag of India’s most generous billionaire. Reportedly, his annual donations exceed $245,000.
Thanks to his numerous donations and philanthropic activities, Nadar has received prestigious honors, including the Padma Bhushan award for remarkable achievements in 2008. In 2015, he also won the Forbes India Award for Lifetime Achievement.
Awards and Accolades
In addition to the Padma Bhushan civilian award for his contribution to the IT industry, Nadar has received the following awards and honorable mentions:
- 2007: Honorary doctorate degree from Madras University
- 2007: E&Y Entrepreneur of the Year
- 2007: CNBC Asia Business Leader of the Year for outstanding contributions to the IT industry
- 2008: Business Today Lifetime Achievement Award
- 2011: One of Forbes‘ 48 Heroes of Philanthropy in Asia Pacific
- 2017: Ranked #16th in India’s 50 Most Powerful People of 2017 by India Today
Other Investments and Ventures of Nadar
Outside of his generous investments in education and scholarships for underprivileged children, Nadar’s investments aren’t publicly disclosed. We do, however, know about a few of his major assets.
In 2014, Nadar gifted his daughter, Roshni Nadar, a bungalow in Delhi’s Friends Colony East Area worth Rs 115 crore (around $13.8 million).
Nadar is also the owner of a Rolls-Royce Phantom Series 8 EWB and a Rolls-Royce Phantom 7 EWB, worth over $300,000 each. Along with these vehicles, he also owns:
- Mercedes 500 SEL AMG worth between $20,000 and $50,000
- Bentley Mulsanne EWB worth between $100,000 and $300,000
- Jaguar XJL worth around $50,000
What Can We Learn from Shiv Nadar’s Story?
Shiv Nadar’s remarkable journey to the top is full of many important lessons.
His success stems from his visionary leadership and his ability to jump on good opportunities quickly and with great determination. He founded HCL in 1976 with a vision to create an Indian company that could compete globally. Over the years, he has demonstrated an ability to foresee market trends and opportunities to great success, underscoring the importance of having a clear vision in the business world.
Under his leadership, the company has been known for its focus on technological excellence, emphasizing research and development as the key factors in the company’s success.
Nadar believes in fostering a culture of innovation and empowering employees. His employees first, customers second philosophy makes the importance of investing in employees, and recognizing them as critical assets of a business obvious.
Finally, Nadar shows how essential it is to give back to your community to help the less privileged.
Through his foundation, he focuses on rural development initiatives, healthcare, and education, which reflects his dedication to being a positive influence on society.