Ramamurthy Thyagarajan, the founder of Shriram Group, began his journey with a small company in the 1960s, which has now grown into a business valued at Rs 1.10 lakh crore. Despite his immense wealth, he leads a simple life, driving a car worth just Rs 6 lakh and not even owning a mobile phone. Thyagarajan is a billionaire, yet he remains distant from luxury. Let's read about the secret behind his success.

Shriram Group

Shriram Group was established in the 1960s when chit fund companies were relatively unknown. Ramamurthy Thyagarajan, the founder, leads a lifestyle similar to that of an ordinary person, staying away from modern technology. He has embraced simplicity and honesty as the core principles of his life. 

The Chennai-based company, founded in 1974 by Ramamurthy Thyagarajan, along with AVS Raja and T Jayaraman, started with chit funds and gradually expanded into the loan and insurance sectors. Thyagarajan identified a critical gap: people from lower-income groups and truck drivers often struggled to secure bank loans due to a lack of credit history. By catering to these needs, Shriram Group gained a strong reputation, especially in providing loans for commercial vehicles. This focus on understanding and solving real-world problems helped the company grow into a major business entity.

Company’s success

Ramamurthy Thyagarajan, who once worked in an insurance company, now leads the Shriram Group, which employs around 1,08,000 people. The company specializes in providing loans for trucks, tractors, and other vehicles. 

According to media reports, Thyagarajan treats his employees like family and credits them for the company’s success. He fostered a company culture where even the smallest employees feel valued and connected, contributing to the overall growth of the business.

Leading philanthropist

Ramamurthy Thyagarajan is also recognized as one of the leading philanthropists in the country. As per reports, he sold his stake in a company valued at $750 million and donated the entire proceeds. Despite his immense wealth, estimated at a market value of around $8.5 billion, he continues to live in a modest home. His commitment to giving back and maintaining a simple lifestyle is as remarkable as his business success.