B. R. Shetty Net Worth: In the corporate world, it is rare for a different name to shine so bright as B. R. Shetty. B. R. Shetty is characterized by forward-thinking leadership, an entrepreneurial mindset, and sheer unstoppable drive. He found a way to go from nothing to build an empire that stretched across healthcare, finance, and pharmaceuticals. B. R. Shetty has traveled from the lowest of lows to lead billion-dollar businesses; as such, has amassed great respect and admiration by people all over the world.
Over the years B. R. Shetty has made great advancements in industries, and amassed great wealth as well. The purpose of this article is to take you on a journey of B. R. Shetty’s net worth, income per year, the real estate, assets, he once owned and milestones in regards to his unique career.
About B R Shetty
Bavaguthu Raghuram Shetty is an Indian-born entrepreneur and founder and mastermind of several prominent UAE companies including Abu Dhabi’s NMC Health, Neopharma, BRS Ventures, and Finablr. He had previously focused solely on the hospitals and hospitality sectors before diversifying across multiple industries including financial services, pharmaceuticals, information technology, advertising, and retail. He was so successful, that he made the Forbes list of India’s 100 Richest People in 2015.
| Born | January 01, 1942 in Udupi, Madras Presidency, British India (now Karnataka, India) |
| Source Of Wealth | Healthcare |
| Industries | Healthcare |
| Citizenship | India |
| Residence | Abu Dhabi |
| Spouse | Chandrakumari Shetty |
| Children | Binay Shetty, Bindu Shetty, Brahmavar Shetty |
Early Life
Born into a working-class Tulu-speaking family on August 1, 1942, in Kapu, Udupi, Karnataka, India, Shetty was pursuing a degree in pharmacy. After completing his pharmacy studies in Manipal, he was the Vice-Chairman of the Municipal Council in Udupi before leaving to the UAE. In 1973, he went to Abu Dhabi with only eight dollars, looking for a better life. He worked as a medical representative and opened the New Medical Centre (NMC) in 1975; which ultimately became the largest private healthcare provider in the UAE.
B.R. Shetty – Career
B.R. Shetty migrated to the United Arab Emirates (UAE) in 1973. He began as the UAE’s first medical representative before founding New Medical Centre Health (NMC) in 1974, with the purpose of providing accessible, affordable, and personalized healthcare. At the time, my wife was the only doctor in the small clinic. Over time, the NMC has grown into the largest private healthcare provider in the UAE, treating more than four million patients a year with 45 facilities across 12 cities in eight countries, such as the UAE, Saudi Arabia, Oman, Spain, Italy, Denmark, Colombia, and Brazil.
NMC Health made history as the first healthcare company from the Gulf Cooperation Council (GCC) and the first company from Abu Dhabi to join the premium segment of the London Stock Exchange – even being listed on the FTSE 100 Index. However, once issues of potential financial irregularities came to light, the NMC board applied for delisting leading NMC to be relieved from being on the FTSE 100 Index.
In 1980, Then, B.R. Shetty expanded his business interests by acquiring the UAE Exchange from the founder, Daniel Varghese, with Emirati partners, including the former UAE Minister of Justice, Abdulla Humaid Al Mazroei. UAE Exchange which was originally intended to make a more straightforward process for expatriates to remit funds, had grown to become a giant, by 2016, in 31 countries with nearly 800 direct offices.
In 2014, UAE Exchange was remitting and collectively exchanging more than $50 billion in volumes. In the same year, Shetty expanded his financial services portfolio again by acquiring Travelex. Travelex was a leading global foreign exchange company with 1,500 stores and 1,300 ATMs in 27 countries.
More Resources:
Successful Entrepreneurs in India 2025
Young Entrepreneurs in India
MBA Chai Wala Net Worth 2024
Vivek Bindra Net Worth 2024
Aman Gupta Net Worth 2024
Emiway Bantai’s Net Worth 2024
Archana Puran Singh Net Worth 2024
B.R. Shetty – Neopharma
In 2003, B.R. Shetty launched Neopharma, a pharma manufacturing company based in Abu Dhabi, and inaugurated by former Indian President Dr. A.P.J. Abdul Kalam. . Neopharma incorporated modular manufacturing concepts, and aligned with international standards, technology, and quality control. Neopharma created r&d and was focused on the development of affordable high-quality medicines. Neopharma also engaged in contract manufacturing for large global pharmaceutical companies, including Merck, Pfizer, AstraZeneca, and Boots UK.
Shetty was able to successfully take NMC public through an IPO on the London Stock Exchange in 2012, and he raised $330 million – enough money to complete a specialty hospital in Khalifa City, Abu Dhabi.
In June 2016, Shetty announced to establish Abu Dhabi’s first medical university – named after Sheikh Zayed. In the same month, he was comfortably elected Chairman of the Indian Business/Professional Group.
The expansion continued further in August 2016, when he announced his intention to build a 400 bed super-specialty hospital in Udupi Karnataka though BRS Ventures. In fact, he had backed hospitals in Alexandria, Nepal, and Cairo, and then there was his healthcare associated portfolio.
In August 2019 BRS Ventures announced a $5 billion investment plan to develop healthcare facilities across India.
B.R. Shetty – Controversies
B.R. Shetty’s stellar career encountered severe setbacks beginning in 2020. In February 2020, Bloomberg News reported raising doubts over Shetty’s actual stake in his firms during a short-selling campaign by Muddy Waters Research. This resulted in Shetty’s removal from the board of NMC Health over corporate governance concerns.
NMC Health had been put under administration in the UK on April 8, 2020, due to insolvency. In the aftermath of the scandal, the UAE’s Central Bank had ordered that all the assets of Shetty and his relatives be frozen on April 27, 2020.
Allegations of financial mismanagement emerged, with probes revealing concealed borrowings of over $6.8 billion by the end of 2019. Shetty was thus compelled to step down from his directorial roles, and his wealth, previously valued at $3.15 billion, sank. Forbes later removed him from its Billionaires List for 2020.
Adding to his woes, Abu Dhabi Commercial Bank lodged a criminal complaint against NMC Health with the UAE Attorney General’s Office on April 15, 2020. Indian authorities also started investigating Shetty’s companies to evaluate potential risks to Indian banks. Later, Shetty is said to have returned to India amidst the unfolding scandal.
Investigations showed that most of the financial framework surrounding Shetty’s empire was rooted in illegal dealings and excessive lending, besmirching the legacy of what had been an inspiring success story.
Other Resources:
AdSense Plugins for WordPress 2025
WordPress AntiSpam Plugins 2025
WordPress Form Builder Plugins 2025
Google Analytics Plugins For WordPress 2025
WordPress Advertising Management Plugins 2025
WordPress Cache Plugins to Improve Speed and Core Web Vitals 2025
WordPress Backup Plugins For Automated Backup 2025
Best WordPress Membership Plugins 2025 (Free and Paid)
WordPress internal linking plugins to improve URL Rating for SEO 2025
Best WordPress Maintenance Mode Plugins 2025
Best WordPress Affiliate Plugins 2025
SEO Plugins for WordPress in 2025
Best WordPress FAQ Plugins 2025 (Free and Paid)
Best Comparison and Pricing Tables WordPress Plugins 2025
Best WordPress Newsletter Plugins 2025
Best Contact Form Plugins for WordPress 2025
B. R. Shetty Net Worth
At his height, Shetty’s net worth was valued at $3.15 billion in 2019. But due to financial scandal in 2019 involving undisclosed debts and accounting misstatements, his wealth drastically came down. In 2020, Forbes dropped him from its list of billionaires.
Assets
Initially, Shetty’s wealth consisted of a number of apartments in the world’s tallest building in Dubai. However, due to the financial losses, the most assets were disposed of.
B.R. Shetty – Awards and Achievements
B.R. Shetty has been recognized and appreciated on a global scale for his contributions to entrepreneurship and healthcare. In 2005, H.H. Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and the President of the UAE, presented to him the Abu Dhabi Award, which is the highest civilian award in Abu Dhabi. In the same year, he also got the Distinguished Entrepreneur Award from the U.S. India Friendship Society.
During his entire journey, Shetty was honored with the Pravasi Bharatiya Samman in 2007 and the Padma Shri in 2009, which was awarded by the President of India. He was further recognized with the Asian Achievers Award in 2011.
In 2013, Shetty was having a full year of rewarding achievements; such as the Lifetime Achievement Award at the International Achievers Summit and a Frost & Sullivan Lifetime Achievement Award. Besides that, he was listed as one of the Top Indian Leaders in the UAE by Forbes Middle East in 2014.
His astuteness in managing businesses was acknowledged through various awards at the Centenary award ceremonies in 2015, Deal of the Year, and Middle Eastern Business Leaders Award.
In 2017, he also became a laureate of the Annual Health Awards, as well as the Kempegowda International Award in the same year. He was also given the honor of the C3 Lifetime Achievement Award, which recognized his leadership in 2018.
However, in the same year he was part of the Annual Health Awards, Shetty was also given the honor of the BM & TV legendary award of the year. His leadership was also recognized with the C3 Lifetime Achievement Award in 2018.
Conclusion
B.R. Shetty’s life clearly demonstrates the success of entrepreneurship and is an excellent learning platform for all those who want to understand how business does not run like a well-working machine all the time, but is influenced by various factors that need to be regulated and controlled properly.
FAQs About B. R. Shetty Net Worth
1. What particular event led to the downslide of B.R. Shetty’s financial standing?
The financial crisis, in particular B.R. Shetty’s businesses in the field of healthcare, which was the main cause of this event, involved allegations of undeclared debts, and wrong financial reports, which resulted in the investigations, freezing of the assets as well as a decrease in net worth.
2. Is B.R. Shetty currently engaged in business?
It is undeniable that Shetty, after the controversies, had to depart from his business. Up to this point, he has not been traced to be carrying out any considerable business administration tasks.
3. What is the current state of NMC Health?
It is widely known now that the NMC Health company has declared bankruptcy due to the investigations made by the United Arab Emirate’s financial watchdog concerning fake cheques and other financial crimes. Furthermore, there has been litigation against this company by American courts, leading to fines and jail time for its CEO.
Source: Times Now
> My Response is on my own site
> Image Sharing Sites
> Profile Submission Sites
> Edu Sites for Backlinks
> Ping Submission Sites
> PDF Submission Sites
> Social Bookmarking Sites
More Resources:
> What is breadcrumb navigation for SEO?
> Mobile SEO Mistakes
> How do we improve page speed- The Complete Guide
> SEO Myths about website optimization
Disclaimer: The net worth, assets, and other information shared here are based on reports from News websites. Sometimes, celebrities or their teams also provide their input, which we include when available. We aim to provide accurate information, but unless stated otherwise, these numbers are approximate. We welcome feedback at info@eblogtalk.com.
