From Rags To Riches: Mukesh Jagtiani's journey from taxi driver to a billionaire
Mukesh Jagtiani's foray into a successful businessman is a story of perseverance, patience and hard work. It's pretty unbelievable that he used to drive a taxi in London to support himself financially. Later in his life, he managed to start his own business and become one of the richest Indians in the UAE. Jagtiani founded the multinational conglomerate Landmark Group, which has a considerable presence in fashion, electronics, furniture and budget hotels in the Middle East and Southeast Asia and has a net worth of $5.2 billion, as per Forbes.
Jagtiani had a very humble beginning he came to London to study accountancy but he didn't complete his education and chose to drop out. He also drove a taxi in London to support himself financially before moving to Bahrain. Jagtiani lost both his parents and his brother in a very short span of time. He went to Bahrain in 1973 to manage his brother's toy shop and turned it into a baby products store. He ran that store for more than 10 years successfully and opened 6 more outlets.
He was again tested by fate as he was forced to move to the UAE due to the Gulf War. He founded the Landmark Group in Dubai which eventually forayed into businesses like fashion, electronics, furniture and budget hotels in the Middle East and Southeast Asia. His wife Renuka Jagtiani now runs the show as the company's Chairman and CEO.
The landmark group has grown into one of the largest retail and hospitality conglomerates in the Middle East, Africa and India. Currently, the Group operates over 2,200 outlets, encompassing over 30 million square feet across 21 countries. According to the Forbes Real Time Billionaires data, Jagtiani's net worth stands at $5.2 billion.
Landmark Group entered India in 1999 and now has a range of of retail formats including Lifestyle and Max for clothes and Home Center for furniture and home furnishings.