Abhay Firodia served as the managing director of the company until 2009 when he made the decision to pass the baton to his son Prasan, who took over as the new managing director.
In India, there are numerous companies that have been operating successfully in the market for over five decades. These companies were initially established by the first generation of a family and have been seamlessly transitioned to subsequent generations. Force Motors is one such company that stands as a prime example of this legacy. The current chairman of Force Motors, Abhay Firodia, is a distinguished billionaire businessman who leads the company to great heights. Notably, Force Motors is also recognized for its engine manufacturing capabilities, supplying engines to prestigious brands such as Mercedes Benz, BMW, and Rolls Royce. In this article, we delve into the accomplishments and contributions of Abhay Firodia in his role as the chairman of Force Motors.
Abhay Firodia is a highly successful Indian billionaire businessman and the esteemed chairman of Force Motors, the country’s leading van manufacturer in terms of volume. Born into a Jain family, Firodia’s journey with the company began in 1975, and he has since made remarkable contributions to its growth and success. While previously serving as the managing director of the firm, he made a significant decision in 2009 to pass on the reins to his son, Prasan, who has been successfully leading the business ever since. With his extensive experience and astute leadership, Firodia continues to play a vital role as the chairman of Force Motors and various other group companies.
Abhay Firodia’s net worth
As of May 14, 2023, Abhay Firodia’s net worth, as reported by Forbes, stands at an impressive USD 3 billion, which is equivalent to approximately Rs 24,660 crore. This remarkable fortune has earned him the 1104th position on Forbes’ Billionaires list for 2023. In addition, Firodia achieved the notable ranking of 67th on India’s Richest list in 2022. His significant wealth is a testament to his business acumen and successful ventures.
Forbes reports that a significant portion of Abhay Firodia’s wealth is derived from his ownership stakes in various Bajaj companies, most notably Bajaj Auto. As of May 14, 2023, the market capitalization of Force Motors, the company he currently chairs, stands at Rs 1,800 crore. Force Motors specializes in the manufacturing of vans, pickup trucks, SUVs, and tractors. It was previously known as Bajaj Tempo, as it originated as a joint venture with the Bajaj family.
Abhay Firodia completed his schooling in Gwalior and went on to graduate from Fergusson College in Pune, where he obtained a BE (Hons.) degree in Economics. He currently resides in Pune and is the proud father of four children. Force Motors, the company he chairs, was originally founded by his late father, Navalmal Firodia, in 1958. In addition to his business ventures, Firodia is reportedly involved in the establishment of a museum that will showcase the rich culture, history, and philosophy of the Jain community in India.