Recently, Bhavish Aggarwal, the founder of Ola Electric, became a new and prominent name in the list of billionaires. With the launch of Ola Electric’s IPO, his net worth saw a significant increase. However, it might surprise you to know that despite being a billionaire, Bhavish Aggarwal has never bought a single share in his life.
No Earnings from Stocks
During a recent event, Bhavish Aggarwal revealed this interesting fact. While speaking at a Business Today event, he shared that he does not like spending on luxury and has never earned a single rupee from stocks. According to him, all his wealth has come from his hard work and the companies he has built.
Ola’s Strong Start in the Stock Market
According to Bloomberg’s Billionaires Index, Bhavish Aggarwal’s total wealth has now reached $2.6 billion. Ola Electric’s IPO, which launched on August 2 and closed on August 6, boosted his net worth to this level. The stock performed exceptionally well, giving a 75% return in just 5 days after listing.
Prefers Savings Accounts and Fixed Deposits
Despite now being involved in the stock market with his company, Bhavish Aggarwal has always stayed away from the market before this. He claimed that he has never purchased any shares in his life. He mentioned that both he and his wife prefer keeping their money in savings accounts and fixed deposits (FDs) in banks.
Future Investment Plans
However, Bhavish Aggarwal hinted that he might start investing in the stock market soon. He stated that now he has more liquidity and might consider making some good investments in the market. He also clarified that even in the future, he would prefer spending his wealth on factories and new technology rather than luxury.