On Tuesday, November 26, Shashi Ruia, a prominent Indian billionaire and co-founder of Essar Group, passed away at 81.
Beginning his career in 1965 under the mentorship of his father, Nand Kishore Ruia, Shashi Ruia emerged as a pioneering entrepreneur. Alongside his brother Ravi, he co-founded Essar and was instrumental in its strategic development and growth.
Shashi Ruia Death Reasons
Shashikant Ruia, a renowned industrialist and Chairman of the Essar Group, passed away on Monday at the age of 81 after a prolonged illness. A prolonged illness refers to a health condition or disease that lasts for an extended period, often requiring ongoing medical attention or treatment. Unlike acute illnesses, which are short-term, prolonged illnesses can persist for months or years, impacting the individual’s quality of life and requiring careful management and support. His leadership and strategic vision left a lasting impact on India’s industrial landscape, earning him respect in the business community. He will be remembered for his contributions and entrepreneurial spirit.
Shashi Ruia Age and Birthplace
Shashi Ruia Age is 81 years old. Shashi Ruia, born on July 8, 1943, in a family known for its entrepreneurial spirit, earned his degree in mechanical engineering from the College of Engineering, Guindy, Chennai.
Shashi Ruia’s Wife Name
Shashi Ruia’s wife, Manju Ruia, plays a significant role in the Essar Group as a shareholder. Her involvement reflects the family’s close connection to the business, contributing to its growth and success over the years. Together, the Ruia family has built Essar into a prominent global conglomerate.
Shashi Ruia Son Name
Shashi Ruia has two sons, Prashant Ruia and Anshuman Ruia. Prashant is married to Vasudha Ruia, while Anshuman is married to Radhika Ruia. Both sons have been actively involved in the Essar Group, continuing the family’s legacy in managing and expanding the conglomerate’s diverse business operations.
Shashi Ruia Grandsons and Grand Daughter Name
Shashikant Ruia is blessed with three grandsons and one granddaughter. His son Anshuman Ruia and daughter-in-law Radhika have two sons, Yuvraj and Yudhishtir Ruia. His other son, Prashant Ruia, and daughter-in-law Vasudha, have a son, Arvan Ruia, and a daughter, Ashna Ruia. Among his grandchildren, none are married yet, as they are still focused on their personal growth and future endeavours. Shashi Ruia’s grandchildren are part of the family’s legacy and are cherished members of the Ruia family, reflecting the close bond they share across generations.
Shashi Ruia Net Worth
Shashikant Ruia had an estimated net worth of $2.8 billion in 2024. In 1996, he set up a large steel plant in Hazira, Gujarat, with a production capacity of 10 million tonnes per year. He also chose Jamnagar, Gujarat, as the site for a massive 20 million tonnes per year oil refinery. In the power sector, his company invested $4.2 billion to build over 5,000 MW of electricity generation capacity, along with important transmission networks. Essar was also an early player in the mobile phone industry during the 1990s, making mobile handsets and working with global partners like Hutchinson. The company reached 28 million subscribers before eventually leaving the business.
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