Paytm Founder Not A Billionaire Anymore, Nykaa's Falguni Nayar Is Nearly 5 Times Richer Than Him
The recent free fall of Paytm¡¯s parent company One97 Communications¡¯ shares has resulted in its Founder Vijay Shekhar Sharma getting stripped of the billionaire tag.
The recent free fall of Paytm¡¯s parent company One97 Communications¡¯ shares has resulted in its Founder Vijay Shekhar Sharma getting stripped of the billionaire tag.
Yes, Paytm founder is no longer a billionaire, with the share price of its parent company reportedly dropping more than 70% in the past four months, as per Forbes data on March 16, 2022.
This precipitous drop in share price highlights the turbulence Paytm has been facing, with the most recent being the RBI ban on Paytm Payments Bank, which restricts it from onboarding new customers.
According to Forbes, Vijay Shekhar Sharma's wealth now stands at $999 million, massively down from its peak of $2.35 billion before the IPO listing.
Reuters
On the day of listing, i.e. November 18th 2021, the firm was valued at ?1.39 trillion, ranking among the top 50 most valued companies in India, as per a Moneycontrol report. But it has since has lost around ?1 trillion in market cap which now stands at ?4,000 crore, ranking the firm at 112th on the list of most valued companies.
Nykaa Founder Falguni Nayar¡¯s Wealth
After Nykaa¡¯s bumper IPO last November, Falguni Nayar had become the wealthiest self-made woman billionaire in India.
On Forbes¡¯ real-time billionaires list, Falguni Nayar ranked 579, with her net worth being $4.9 billion, which is nearly five times more than that of Vijay Shekhar Sharma¡¯s $999 million.
Falguni Nayar, a former investment banker, had founded online beauty shopping platform Nykaa in 2012, and is the newest entrant in the research platform Hurun¡¯s Global Rich List for 2022, which was released yesterday.
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