Net Worth of Sachin Bansal in Rupees: 2024 Update

Published On: August 13, 2024 7:14 pm

Discover the staggering net worth of Sachin Bansal, co-founder of Flipkart, and explore his journey from a small online bookstore to one of India’s youngest billionaires.

Who’s Sachin Bansal?

Sachin Bansal, the co-founder of India’s e-commerce giant Flipkart, has amassed a staggering net worth, making him one of the wealthiest individuals in the country. His journey from a small online bookstore to a multi-billion dollar company has been nothing short of remarkable, and his net worth reflects the immense success he has achieved. In this comprehensive article, we will delve into the details of Sachin Bansal’s net worth, exploring how he built his fortune and his current investments and ventures.

Flipkart: The Rise of an E-commerce Empire

Sachin Bansal co-founded Flipkart in 2007 with Binny Bansal (no relation), starting with an initial capital of just ₹400,000 (around $5,600). The duo began operating out of an apartment in Bangalore, focusing on selling books online. Over the years, Flipkart grew rapidly, expanding into various product categories and revolutionizing the e-commerce landscape in India.

In 2018, Walmart acquired a 77% stake in Flipkart for $16 billion, making it the world’s biggest deal for an internet firm. At the time of the acquisition, Sachin Bansal held a 5.5% stake in Flipkart, which he sold to Walmart, earning him over $1 billion.

Sachin Bansal’s Net Worth

According to Forbes, Sachin Bansal’s net worth as of 2024 is estimated to be around $1.4 billion, making him one of the youngest billionaires in India. His wealth primarily comes from his stake in Flipkart, which he built over the course of 11 years as the company’s CEO and chairman.

Bansal’s net worth has fluctuated over the years, with his stake in Flipkart being valued at over $1 billion in 2018 after the Walmart deal. However, his current net worth of $1.4 billion places him among the top 2,500 richest people in the world, according to the Forbes Billionaires List.

Post-Flipkart Ventures and Investments

After exiting Flipkart following the Walmart acquisition, Sachin Bansal has remained active in the startup ecosystem, making several investments and launching new ventures.

In December 2018, Bansal founded BACQ Acquisitions Private Limited, a venture that focuses on building and acquiring technology-driven businesses in diverse industry verticals. He has made over 18 investments in early-stage startups, with deal sizes ranging from $1 to $2 million.

Some of Bansal’s notable investments include:

Ola Cabs: In 2019, Bansal invested $100 million in the ride-hailing platform, acquiring a 0.37% stake.
Ather Energy: Bansal has invested in the electric vehicle startup, which is working on developing electric scooters.
Unacademy: The online learning platform has received investments from Bansal.

Navi Technologies

In December 2019, Sachin Bansal’s Navi Technologies acquired Bengaluru-based technology consulting firm Maven Hive. Navi Technologies is a financial services company that operates in various sectors, including general insurance, microfinance, and digital payments.

In 2020, Navi Technologies acquired the general insurance brand COCO, previously owned by the housing finance company Deewan Housing Finance Limited. The same year, Navi Technologies announced Sachin Bansal as its Managing Director, after raising ₹209 crore from Gaja Capital.

In March 2022, Navi Technologies filed a draft for an ₹3,350 crore IPO, seeking to raise funds for its growth and expansion plans. However, the company later abandoned its listing plans due to market volatility and the rejection of its banking licence application.

Despite the setback, Navi Technologies continues to grow, with its subsidiary Navi Finserv reporting a net profit of ₹172 crore in the financial year 2022-23 (FY23), compared to a loss of ₹67 crore in the previous fiscal year. The startup’s operating revenue surged 2.8 times to ₹1,283 crore in FY23 from ₹457.1 crore in FY22.

Recognition and Achievements

Sachin Bansal’s entrepreneurial journey has been recognized both nationally and internationally. In 2015, he was named the 86th richest person in India by Forbes India. The following year, Time Magazine included Bansal and his co-founder in the 100 most influential people in the world list.

In 2017, India Today included Sachin Bansal and Binny Bansal in India’s 50 most powerful people list. Bansal has also been named “Entrepreneur of the Year” by The Economic Times.

Controversies and Allegations

Despite his immense success, Sachin Bansal has not been immune to controversies and allegations. In March 2020, Bansal’s wife Priya filed a domestic violence case against him, alleging physical and mental abuse. However, the case was later withdrawn, and the couple reconciled.

Conclusion

Sachin Bansal’s net worth of ₹11,200 crore (around $1.4 billion) is a testament to his entrepreneurial prowess and the success of Flipkart, the e-commerce giant he co-founded. His journey from a small online bookstore to a multi-billion dollar company has been nothing short of remarkable, and his investments and ventures post-Flipkart showcase his continued involvement in the startup ecosystem.

As Navi Technologies continues to grow and expand, Bansal’s net worth is likely to fluctuate in the coming years. However, his status as one of India’s youngest billionaires and his impact on the country’s e-commerce landscape are undeniable. Sachin Bansal’s story serves as an inspiration for aspiring entrepreneurs, showcasing the potential for success in India’s rapidly growing startup ecosystem.