Wealth: 1.72 Billion
Karnataka-born Dr Bavaguthu Raghuram Shetty, better known as B R Shetty, is the managing director and CEO of the Abu Dhabi-based New Medical Centre (NMC) Group. Shetty, who initially trained as a pharmacist, moved to the UAE in 1973 and quickly spotted a gap in the market for providing healthcare services.
He opened his first pharmacy in the UAE in 1973 before establishing the New Medical Centre in 1977.
Today, the group has diversified investments across a wide range of sectors including financial services, retail, real estate and IT. Shetty’s contributions to the fields of trade and industry have not gone unnoticed back home in India.
In 2007, he was honoured with the Pravasi Bharatiya Samman award and two years later was given one of India’s highest civilian honours, the ‘Padma Shri’ for his contribution in the field of trade and industry.
In April, Shetty sold two of his healthcare facilities – National Hospital and New National Medical Centre — to the UAE-based company, Al Aseel Investments, for an undisclosed sum.