Who is Ravi Ruia, the new owner of Rs 1,200 crore Hanover Lodge mansion in London?

Meet Ravi Ruia, a lesser-known but immensely wealthy figure in India. The co-founder of Essar Group recently made headlines for his purchase of the opulent Hanover Lodge property in London, worth a staggering 1,190 crore (USD 145 million), previously owned by Russian investor Andrey Goncharenko.

Until now, Mukesh Ambani was known for purchasing one of the most expensive properties in London, the Stoke Park Estate (USD 79 million). Now, Ravi Ruia has also joined the list.

Here are few things, you must know about Ravi Ruia:

• A Mechanical Engineer by profession, Ravi Ruia, born in April 1949, ventured into the family business alongside his brother, Shashi Ruia.
• Together, they founded Essar Global Fund Limited (EGFL), under the management of Essar Capital Limited, which has grown into a leading multinational conglomerate.
• The group's extensive operations encompass steel, oil, gas, power, communications, shipping, ports, logistics, projects, and minerals across 20 countries, employing nearly 75,000 people and generating a revenue of USD 17 billion.
• Notably, Ravi Ruia was recognized for his outstanding contribution to sustainability at the Asian Awards in London in April 2013.
• However, the journey was not without challenges. In 2011, the Essar Group faced an investigation by India's crime investigation agency, the Central Bureau of Investigation (CBI), regarding the sale of 2G Spectrum.
• After a lengthy legal process, the Supreme Court of India exonerated Ruia in 2017, citing the failure of the opposition to prove any charges against him.
• Married to Madhu Ruia, Ravi Ruia is a proud parent of two children residing in Mumbai, India.

With the acquisition of Hanover Lodge in London, Ravi Ruia joins the ranks of a select few Indian billionaires who own luxurious properties in the British capital.

A recent report by Knight Frank revealed that 17% of individuals globally, with a net worth of $30 million or more, purchased at least one home in 2022, reflecting the ongoing trend of high-net-worth individuals investing in exclusive properties worldwide.