Indian Tycoon Gave Away $750 Million. He Doesn't Even Own A Mobile Phone:
He built a fortune lending to low-income borrowers shunned by banks ...
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Indian Tycoon Shares Wealth with EmployeesR Thyagarajan gave away $750M in shares through a trust benefiting 44 executives while living a modest life in Chennai.
- R Thyagarajan built Shriram Group, employing 108,000 and lending to those excluded from formal banking.
- He demonstrated that lending to low-income borrowers can be safe and profitable despite their lack of credit history.
- Employees receive below-market wages but appreciate the job’s stability and flexibility at Shriram.
- Thyagarajan transferred his shares to a trust in 2006 now valued over $750 million benefiting senior staff.
I did not imagine that so much money was going to be distributed to so few.— R Thyagarajan, reflecting on his decision to give away his wealth.
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Shriram Group’s founder Thyagarajan says lending to poor is socialism and can be profitable: Report | Mint
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India Tycoon RT of Shriram Gave Away $750 Million, Sees Profit in Loans to Poor: He built a fortune lending to low-income borrowers shunned by banks ...
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'Lending to poor a form of socialism': Meet Indian tycoon who doesn't own mobile: R Thyagarajan, the founder of the Indian conglomerate Shriram Group ...
hindustantimes.com/business/lending-to-poor-a-form-of-socialism-meet-indian-tycoon-shriram-group-r-thyagarajan-who-doesnt-even-own-a-mobile-101691578096153.html
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