Raymond Group Chairman and Managing Director Gautam Hari Singhania sustained minor injuries in a speedboat accident in the Maldives. According to his spokesperson, Singhania is currently recovering in Mumbai and his condition is said to be stable.
A report from the Maldives claimed that a speedboat carrying tourists capsized near V Felidhoo early Friday morning.
Singhania was among the tourists and two other Indians, including rally driver Hari Singh, are missing and search operations are on, news agency PTI reported.
Singhania was saved.
Confirming the development, Singhania’s spokesperson was quoted by PTI as saying, “Gautam Singhania sustained minor injuries following an unfortunate accident. He is recovering under proper care in Mumbai.”
The spokesman went on to say: “We thank you for your wishes and pray for the well-being of the affected friends.”
Singhania is recovering under care at Mumbai’s Breach Candy Hospital, NDTV Profit reported.
Five swept into the sea
According to a PTI report, there were seven people on board the speedboat. They include two women from the UK and Russia and five men from India.
Citing police, the report said five people, including a woman from Russia and four men from India, were swept into the sea.
Gautam Singhania net worth
The Raymond Group chairman and CEO’s net worth is said to be $1.4 billion as of 2023, according to Forbes estimates.
In addition to the stake in the company from which most of his wealth originates, Singhania also holds significant real estate investments. The real estate holdings include JK’s house in South Mumbai and 120 acres of land in Thane, of which 24 acres are under construction, Livemint reported earlier.
Last year, the Indian billionaire was in Monaco for the Grand Prix and met Europe’s Royal Prince Albert II of Monaco on the sidelines of the international racing event.
Singhania was rooting for Kush Maini to become the first Indian to win a Formula 2 sprint race at the iconic Monaco Grand Prix in May 2025.
