Renuka Jagtiani is among the 23 new billionaires on the Forbes New Billionaires list 2024, with a net worth of $4.8 billion. She is the CEO of Landmark Group, a retail company founded by her late husband Micky Jigtiani.
Forbes has just released its most-awaited billionaire list for 2024. The list includes many new names from all over the world and also features some familiar ones such as Elon Musk, Bernard Arnault, and Mukesh Ambani.
This year, India saw 23 new billionaire entries in the Forbes list, including Renuka Jagtiani, the Chief Executive Officer of Landmark Group, with a net worth of around $4.8 billion.
Landmark Group is a retail company founded by Late Micky Jagtiani in 1973. The company was later inherited by his wife Renuka Jagtiani, after his death in May 2023.
Renuka Jigtiani took the responsibilities of CEO after her husband's death and has been handling the company since then. She opened up about her experience in the retail business and her position in an interview with RetailME last year. She said, "At the age of 38 I joined Landmark Group with no prior experience in retail."
Landmark is a retail company based in the UAE. It is a multinational conglomerate that engages in the retailing of footwear, apparel, home improvement, baby products, cosmetics, beauty products, and electronics. The company has many subsidiaries such as Max Fashion, Lifestyle, CityMax Hotels, and Splash, operating worldwide.
Discussing her vision as a CEO and the future of the company, Renuka said, "In my role as Chairwoman my focus is to further enhance the strategic vision for the company and take the business to new heights."
"I also believe that the time is right to hand over the business to the next generation, including my three children, each of whom have their strengths and experience. I’m also fortunate to have Kabir Lumba, a long-time colleague, as the CEO of Landmark Retail and a great team of leaders across business lines," she added.
Forbes added 256 new billionaires to the 2024 list, a significant increase from the previous year's count of 150. This year's list features a diverse group of billionaires from various sectors, including Taylor Swift, who has accumulated a net worth of $1.1 billion based on her Eras tour, music catalogue, and real estate value.
According to the report, the manufacturing sector has seen the most wealth this year, with numerous new names emerging. One such individual from India is Anil Gupta, chairman of KEI Industries, which is involved in the manufacturing of stainless steel wires and power cables.
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