M. M. Murugappan Net Worth: Former Chairman of the Murugappa Group

M. Murugappan is one of the biggest names in the Indian business scene today, and why is that exactly? Well, just so you know, he is part of the famous Murugappa family and currently serves as the Executive Chairman of the Murugappa Group, a business group that was established by his great-grandfather in 1900. For those of you who are particularly interested in the financial numbers, well, the Murugappa family has a net worth of about $7.3 billion, which makes them the 25th richest family on Forbes’ 2023 list of India’s richest families. With that said, how about if we go on to tell you his life story? That would be inspiring for many of you, for sure!

Background and Education

Born into the famous and wealthy Murugappa family, M. M. Murugappan continues a line of family businesses that were initiated by his great-grandfather, A. M. Murugappa Chettiar, who set up the firm way back in1900, with the specific purpose of lending out small personal loans, and from which arose the Murugappa Group, you know? As for his educational qualification, well, he finished up his time at The Lawrence School, Lovedale, in India where he attended this distinguished school, after which he achieved a Degree in Chemical Engineering from AC College of Technology, University of Madras. After that, he got a Masters degree in Chemical Engineering at the University of Michigan in the USA.

Career Overview

Yes, it was back in 2018, Mr. M. M. Murugappa was named Executive Chairman of the Murugappa Group, which has created a number of major companies such as Cholamandalam Investment and Finance, Coromandel International, and Tube Investments of India. Right now though, besides his function in the Murugappa Group, he is chairman of Carborundum Universal and Cholamandalam MS General Insurance, serving as Non-Executive Chairman at Cyient Ltd. He is also involved with charitable causes, working with the AMM Foundation, a charity that focuses on education, health, and community services, while also providing assistance in the area of steady start-ups in the country.

Role In The Murugappa Group

The Murugappa Group, which is led by M. M. Murugappan at the moment, is one of the longest-standing and most distinguished groups in India, did you know that already? A. M. Murugappa Chettiar started the company in 1900 as a money-lending scheme in Myanmar. Sure, since then, the company has penetrated into various sectors. It currently includes 29 dissimilar businesses, ten of which are publicly listed on the capital markets. Just so you know, the corporate office is located in Chennai and it operates in various sectors like abrasives, auto parts, bicycles, fertilizers, and sugar. As you know, brands like BSA, Hercules, and Parry’s are very popular under this brand group. The group has a workforce of roughly 73,000 employees thus making it among the top employers in India.

Personal Life and Interests

Chennai is the place where M. M. Murugappan currently lives and calls it home, and he is the fourth generation in the Murugappa family. Not just that though, even today, many of his family members, including those from the fifth generation, are actively involved in the group’s businesses. Besides his professional work, Murugappan passionately enjoys playing hockey and also carries forward the tradition of the MCC-Murugappa Gold Cup, the grand hockey tournament for more than 90 years now, organized in Chennai, you know? And yes, it also has Murugappa as its sponsor. Through the AMM Foundation, he engages in several charitable initiatives centering on education, healthcare, and rural development. So, he’s not just a typical businessman who’s only out there for the money part, he believes in helping those who are in need, and we can surely see that in his philanthropic works.