(MENAFN- Live Mint) Raymond Group CMD Gautam Singhania made headlines for calling out Italian luxury carmaker Lamborghini for“arrogance” in not responding to his complaints about an issue with his ₹8.89 crore car from the brand.
Singhania had complained about his Lamborghini Revuelto being stranded on the trans-harbour LINK in Mumbai during a test drive due to an electrical failure, as per a PTI report.“It's a brand-new car'. Are there reliability concerns? This is the third one I've heard of experiencing issues within 15 days of delivery,” he had stated.
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And in posts on social media platform X (formerly known as Twitter) on October 27 and October 16 he blasted the company for not“reaching out”, for the leadership's“arrogance” and for not being“bothered” to check“what the problem with an old loyal customer is”.
Lamborghini India could not be immediately contacted, the report added.
Gautam Singhania's Net Worth
While it is not clear if Lamborghini has contacted Singhania yet, his social media callouts and the car's ₹8.89 crore price tag have generated much talk about the owner's net worth.
As of April 2024, Business Today and Hindustan Times reported the Raymond chief's net worth to be around $1.4 billion or ₹11,658 crore. While the majority of this wealth is derived from his 37 per cent stake in the company, Singhania also holds major real estate investments.
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In an interview with the Economic Times, while asserting that his company and private life are separate amid divorce settlement reports with estranged ex-wife Nawaz Modi , Singhania told the paper he is "sitting on cash", adding, "my net worth is over ₹5,000 crore".
The HT report added that Singhania is known for his luxurious lifestyle, including pricey purchases of fast cars, yachts and planes. According to a Financial Express report, his collection of fast luxury cars includes a range of Ferrari, Lamborghini, and Mustang, among others.
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As per BT, the real estate holdings include the ₹6,000 crore JK House in South Mumbai and 120 acres of land in Thane, of which 24 acres are under development. It cited the company's real estate division report to note that reported sales from the sector were at ₹1,115 crore in 2023.
JK House spread over 16,000 sq ft on Altamount Road - India's Billionaires' Row, which boasts Mukesh Ambani 's Antilla as an address, is a luxurious 30 floor residential complex, the FE report said. The property's ground floor also hosts a flagship Raymond Shop, it added.
(With inputs from Agencies)
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