Achal Bakeri
Ahmedabad, India
Master of Business Administration, Marshall School of Business
India
air coolers, Self Made
$1,200,000,000
1941
#1941 Billionaires 2019
#89 India's Richest 2015
Property developer's son Achal Bakeri branched out into manufacturing in 1988 by borrowing $1,500 from his father. Today his Bombay Stock Exchange-listed Symphony is the world's biggest producer of air coolers selling 1.2 million units annually in 60 countries. Symphony also owns Munters Keruilai, a Swedish-Chinese joint venture, which gives it a foothold in China and the Asean region. In 2018, Symphony expanded its international footprint with the acquisition of Climate Technologies, an Australian air cooling firm.
Symphony air coolers are used in such places as the walkways at Heathrow airport, Wal-Mart stores and temples in India. Bakeri's assets include a share in the family's real estate holdings in and around Ahmedabad city.
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