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Anand Mahindra, 64, the chairman of Mahindra & Mahindra, is set to put his papers down in March 2020.
Mahindra and Mahindra is the largest tractor selling brand in the world.
His net worth stood at $1.42 billion, according to Forbes.
He is the 88th richest person in India, according to Forbes rich list 2018.
The Mahindra & Mahindra conglomerate is estimated to generate revenue of $21 billion.
Anand Mahindra, who was at the helm of Mahindra & Mahindra group for 7 years will step Executive Chairman from April 1, 2020.
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"With effect from April 1, 2020, Mahindra will transition to the role of Non-Executive Chairman of the board of Mahindra & Mahindra. This is in accordance with the Sebi guidelines,"
Pawan Goenka will take over as MD & CEO as Mahindra himself will don the role of a mentor and sounding board for the Goenka, especially in the areas of strategic planning, risk mitigation and external interface, a company statement said.
The 64-year-old has a net worth of $1.6 billion, and controls a multinational conglomerate whose revenues are upwards of $21 billion.
Net Worth 2019 : $1.6 billion
Remuneration : Not disclosed
He joined Twitter ten years back and now has 7.15 million followers.
Net Worth 2018 : $1.7 billion
Remuneration : ₹8.03 crores
A generation of Indians follow Anand Mahindra on Twitter. Right from his opinions on political and economic events, to sharing pictures on women empowerment to funny videos, Mahindra is one of those few billionaires who bare it all on social media. He joined ten years back and now has 7.15 million followers.
Mahindra pursued a film major course at Harvard University in 1977.
Net Worth in 2017 : $1.3 billion
Remuneration : ₹7.67 crore
Surprisingly, Mahindra pursued a film major course at Harvard University in 1977. However, the heir to the Mahindra fortune followed up with an MBA course at Harvard Business School in Boston.
He started his career at Mahindra Ugine Steel Company in 1981 as an executive assistant to the finance director. The rest as we know is history.
Later, he went back and contributed $10 million to the humanities center at his alma mater.
Mahindra also took many bets, and one of them is buying Satyam Computer Services, a move that helped expand Tech Mahindra’s brand and reach.
Net Worth 2016: $1.1 billion
Remuneration : ₹6.59 crore
After he took over as the vice president of the Mahindra & Mahindra group, Anand put it on a path of fast growth. Its revenues were at $1.35 billion in 2003 when he took over. Within ten years, it grew manifold to $21 billion in 2013.
Anand Mahindra made it to the Barron's List of Top 30 CEOs worldwide, in 2016. He was also one of the Fortune Magazine’s World’s 50 Greatest Leaders in 2014.